{"data":{"id":"us-or/ors-70.500","jurisdiction":"us-or","citation":"ORS 70.500","heading":"Definitions for ORS 70.500 to 70.540.","body":"As used in ORS 70.500 to 70.540:\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 this chapter, 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) “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.","path":["02 - Business Organizations, Commercial Code","7. Corporations and Partnerships","Chapter 70 — Limited Partnerships"],"source_url":"https://www.oregonlegislature.gov/bills_laws/ors/ors070.html","current_through":"2025 Edition","vintage":"","retrieved_at":"2026-09-03T23:50:10Z","sha256":"dcd562e3f4e7e6d76447e3efa848da24e17e9de4524237f6daae52155c4bb11d","source_id":"us-or","stale":false,"prev":"us-or/ors-70.490","next":"us-or/ors-70.505"},"notice":"GroundRules: Original legal text. Not legal advice."}