As used in this section and ORS 62.607 to 62.623:\n(1) 'Business entity' means:\n(a) Any of the following for-profit entities:\n(A) A professional corporation organized under ORS chapter 58, predecessor law or comparable law of another jurisdiction;\n(B) A corporation organized under ORS chapter 60, predecessor law or comparable law of another jurisdiction;\n(C) A limited liability company organized under ORS chapter 63 or comparable law of another jurisdiction;\n(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\n(E) A limited partnership organized under ORS chapter 70, predecessor law or comparable law of another jurisdiction; and\n(b) A cooperative organized under this chapter, predecessor law or comparable law of another jurisdiction.\n(2) 'Organizational document' means the following for an Oregon business entity or, for a foreign business entity, a document equivalent to the following:\n(a) In the case of a corporation, professional 'Organizational document' means the following for an Oregon business entity or, for a foreign business entity, a document equivalent to the following:\n(a) In the case of a corporation, professional corporation or cooperative, articles of incorporation;\n(b) In the case of a limited liability company, articles of organization;\n(c) In the case of a partnership, a partnership agreement and, for a limited liability partnership, its registration; and\n(d) In the case of a limited partnership, a certificate of limited partnership.\n(3) 'Owner' means a:\n(a) Shareholder of a corporation or of a professional corporation;\n(b) Member or shareholder of a cooperative;\n(c) Member of a limited liability company;\n(d) Partner of a partnership; and\n(e) General partner or limited partner of a limited partnership. [1957 c.716 §42; 1995 c.195 §38; 1999 c.362 §18; 2003 c.80 §17b]
Oregon Legal Code