{"data":{"id":"us-or/ors-67.340","jurisdiction":"us-or","citation":"ORS 67.340","heading":"Definitions for ORS 67.340 to 67.365.","body":"As used in ORS 67.340 to 67.365:\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 this chapter, 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 ORS chapter 62, predecessor law or comparable law of another jurisdiction.\n      (2) “General partner” means a partner in a partnership and a general partner in a limited partnership.\n      (3) “Limited partner” means a limited partner in a limited partnership.\n      (4) “Limited partnership” means a limited partnership created under ORS chapter 70, predecessor law or comparable law of another jurisdiction.\n      (5) “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      (6) “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) Partner of a limited partnership.\n      (7) “Partner” includes both a general partner and a limited partner.","path":["02 - Business Organizations, Commercial Code","7. Corporations and Partnerships","Chapter 67 — Partnerships; Limited Liability Partnerships"],"source_url":"https://www.oregonlegislature.gov/bills_laws/ors/ors067.html","current_through":"2025 Edition","vintage":"","retrieved_at":"2026-09-03T23:50:10Z","sha256":"60db76983b792bd3ded00b02eb61e3c022fd4d371bdb04682d4e0a3fd361638f","source_id":"us-or","stale":false,"prev":"us-or/ors-67.315","next":"us-or/ors-67.342"},"notice":"GroundRules: Original legal text. Not legal advice."}