§ 70.500 — Definitions for ORS 70.500 to 70.540

Oregon § 70.500

• Jurisdiction: Oregon
• Vol.: 2
• Title 7: Corporations and Partnerships
• Ch. 70: Limited Partnerships

Text

As used in ORS 70.500 to 70.540:
(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 ORS chapter 63 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 this chapter, 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.

Legislative History

1999 c.362 §56; 2003 c.80 §29