Uniform Law on Notarial Acts

ORS 194.385
Powers of notary public connected with corporation

  • limitations

(1)

A notary public who is a shareholder, director, officer, employee, member or partner of a business entity may:

(a)

Take the acknowledgment of any party to any written instrument executed to or by the business entity; or

(b)

Administer an oath to any other shareholder, director, officer, employee, member or partner of the business entity or to any agent of the business entity.

(2)

A notary public may not take the acknowledgment of an instrument executed to or by a business entity of which the notary public is a shareholder, director, officer, employee, member or partner, if the notary public is a party to the instrument, either individually or as a representative of the business entity.

(3)

As used in this section:

(a)

“Business entity” means a financial institution, trust company, corporation, professional corporation, cooperative, limited liability company, nonprofit corporation, partnership, limited liability partnership or limited partnership.

(b)

“Financial institution” has the meaning given that term in ORS 706.008 (Additional definitions for Bank Act).

(c)

“Trust company” has the meaning given that term in ORS 706.008 (Additional definitions for Bank Act). [2013 c.219 §36 (enacted in lieu of 194.100)]

Notes of Decisions

Under former similar statute (ORS 194.100)

On reconsideration legislature did not intend taxpayer action under this section to be “tort” within meaning of Oregon Tort Claims Act. Burt v. Blumenauer, 87 Or App 263, 742 P2d 626 (1987)

Source

Last accessed
May 26, 2023

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