Rajneesh Foundation International v. Corporation Commissioner

In this case, petitioner appeals the Corporation Commissioner’s denial of its petition seeking adoption of a rule. The Commissioner denied the petition, because petitioner had not offered any evidence establishing that the securities it would offer would meet the appropriate criteria. We affirm.

Petitioner is a non-profit corporation qualified to do business in Oregon. It is organized and operated exclusively for religious, educational, benevolent and fraternal purposes and has been accorded tax-exempt status as a religious organization by the Internal Revenue Service.1

On August 12, 1982,…