Distribution means a transfer of money or other property from a partnership to a partner in the partners capacity as a partner or to the partners transferee.
Foreign limited liability partnership means a partnership that:
Is formed under laws other than the law of this state; and
Has the status of a limited liability partnership under those laws.
Limited liability partnership means a partnership that has registered under ORS 67.603 (Application for registration), and has not registered or qualified in any other jurisdiction other than as a foreign limited liability partnership.
Partnership means an association of two or more persons to carry on as co-owners a business for profit created under ORS 67.055 (Creation of partnership), predecessor law, or comparable law of another jurisdiction. A partnership includes a limited liability partnership.
Partnership agreement means the agreement, whether written, oral or implied, among the partners concerning the partnership, including amendments to the partnership agreement.
Partnership at will means a partnership in which the partners have not agreed to remain partners until the expiration of a definite term or the completion of a particular undertaking.
Partnership interest or partners interest in the partnership means all of a partners interests in the partnership, including the partners transferable interest and all management and other rights.
Person means an individual, corporation, business trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency, instrumentality or any other legal or commercial entity.
Real estate appraisers licensed under ORS chapter 674 or the laws of another state; and
Other persons providing to the public types of personal service or services substantially similar to those listed in paragraphs (a) to (L) of this subsection that may be lawfully rendered only pursuant to a license.
Professional service means the service rendered by a professional.
Property means all property, real, personal or mixed, tangible or intangible, or any interest therein.
State means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico or any territory or insular possession subject to the jurisdiction of the United States.
Transfer includes an assignment, conveyance, lease, mortgage, deed, encumbrance, creation of a security interest and any other disposition.
Transferable interest of a partner in the partnership means the partners share of the profits and losses of the partnership and the partners right to receive distributions. [1997 c.775 §1; 2003 c.14 §25; 2009 c.294 §8; 2009 c.833 §28; 2013 c.129 §22; 2013 c.196 §18]