Section 60.227 - Voting entitlement of shares(1) Except as provided in subsections (2) and (3) of this section and in ORS 60.807, or unless a corporation's articles of incorporation provide otherwise, each outstanding share, regardless of class, is entitled to one vote on each matter voted on at a shareholders' meeting. Only shares are entitled to vote.(2) The shares of a corporation are not entitled to vote if they are owned, directly or indirectly, by a second domestic or foreign corporation, and the first corporation owns, directly or indirectly, a majority of the shares entitled to vote for directors of the second corporation.(3) Subsection (2) of this section does not limit the power of a corporation to vote any shares, including the corporation's own shares that the corporation holds in a fiduciary capacity.(4) Redeemable shares are not entitled to vote after notice of redemption is delivered to the holders and a sum sufficient to redeem the shares has been deposited with a bank, trust company or other financial institution under an irrevocable obligation to pay the holders the redemption price on surrender of the shares.Amended by 2017 Ch. 55,§ 9, eff. 1/1/2018.1987 c.52 §57; 1989 c.4 §7