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Oregon · Through 2025 Edition

ORS 63.245: Admission of members.

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Where this section sits in the code
  1. 02 - Business Organizations, Commercial Code
  2. 7. Corporations and Partnerships
  3. Chapter 63 — Limited Liability Companies

(1) A person becomes a member of a limited liability company on the later of:

      (a) The date the initial articles of organization are filed; or

      (b) The date stated in the records of the limited liability company as the date the person becomes a member.

      (2) After the filing of the limited liability company’s initial articles of organization, a person may be admitted as a member of the limited liability company upon compliance with the articles of organization or any operating agreement, or, if neither the articles of organization nor any operating agreement so provide:

      (a) In the case of a person acquiring a membership interest directly from the limited liability company, upon the consent of a majority of the members;

      (b) In the case of an assignee of a limited liability company membership interest not governed by paragraph (c) of this section, upon the consent of a majority of the members other than the assignor; or

      (c) In the case of an assignee of a membership interest in a limited liability company in which, immediately following the assignment, the limited liability company otherwise would have no members, simultaneously with and upon the assignment of the membership interest.

Collected 2026-09-03T23:50:10Z. Source file · JSON

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