(2) A defective corporate action that results directly or indirectly from a previous defective corporate action, or a corporate action that a corporation takes in reliance on the previous defective corporate action, is valid and effective as of the date the corporation took the corporate action or the defective corporate action if the corporation ratified the previous defective corporate action under ORS 65.266 or validated the previous defective corporate action under ORS 65.278.
(3) A corporation’s ratification, validation or other approval of a corporate action under ORS 65.260 to 65.281 and a determination, finding, order or judgment in a proceeding under ORS 65.281 does not affect a cause of action or remedy, other than a cause of action or remedy under ORS 65.281, that relates to the corporate action or the corporation’s ratification, validation or other approval of the corporate action under ORS 65.260 to 65.281. [2019 c.325 §16]