Limited Liability Companies

ORS 63.467
Definitions for ORS 63.467 to 63.497


As used in ORS 63.467 (Definitions for ORS 63.467 to 63.497) to 63.497 (Effect of merger):

(1)

“Business entity” means:

(a)

Any of the following for-profit entities:

(A)

A professional corporation organized under ORS chapter 58, predecessor law or comparable law of another jurisdiction;

(B)

A corporation organized under ORS chapter 60, predecessor law or comparable law of another jurisdiction;

(C)

A limited liability company organized under this chapter or comparable law of another jurisdiction;

(D)

A partnership organized in Oregon after January 1, 1998, or that is registered as a limited liability partnership, or that has elected to be governed by ORS chapter 67, and a partnership governed by law of another jurisdiction that expressly provides for conversions and mergers; and

(E)

A limited partnership organized under ORS chapter 70, predecessor law or comparable law of another jurisdiction; and

(b)

A cooperative organized under ORS chapter 62, predecessor law or comparable law of another jurisdiction.

(2)

“Organizational document” means the following for an Oregon business entity or, for a foreign business entity, a document equivalent to the following:

(a)

In the case of a corporation, professional corporation or cooperative, articles of incorporation;

(b)

In the case of a limited liability company, articles of organization;

(c)

In the case of a partnership, a partnership agreement and, for a limited liability partnership, its registration; and

(d)

In the case of a limited partnership, a certificate of limited partnership.

(3)

“Owner” means a:

(a)

Shareholder of a corporation or of a professional corporation;

(b)

Member or shareholder of a cooperative;

(c)

Member of a limited liability company;

(d)

Partner of a partnership; and

(e)

General partner or limited partner of a limited partnership. [1999 c.362 §31; 2003 c.80 §27]
Chapter 63

Law Review Citations

30 WLR 291 (1994); 73 OLR 5, 25, 43, 133, 151 (1994)


Source

Last accessed
Jun. 26, 2021