Source: https://www.oregonlegislature.gov/bills_laws/ors/ors070.html
Timestamp: 2018-08-19 17:43:45
Document Index: 411260499

Matched Legal Cases: ['§2', '§65', '§1', '§53', '§36', '§5', '§5', '§9', '§5', '§28', '§17', '§33', '§23', '§36', '§24', '§46', '§332', '§50', '§28', '§9', '§19', '§16', '§21', '§52', '§30', '§20', '§22', '§56', '§29', '§57', '§20', '§24', '§23', '§59', '§11', '§10', '§61', '§21', '§25', '§63', '§22', '§11', '§23', '§37', '§12', '§24', '§13', '§4', '§10']

70.005 Definitions
70.010 Name of limited partnership; registration of assumed business name; application of other law
70.015 Reservation of limited partnership name
70.025 Registered agent; registered office; changing agent
70.030 Change of address and resignation procedures for registered agent
70.040 When Secretary of State to serve as agent; service on Secretary of State; when default may be entered
70.050 Records required in office in state; inspection
70.065 Filing, service, copying and certification fees
70.067 Forms; rules
70.075 Formation of limited partnership; certificate of limited partnership; rules
70.080 Amendment of certificate
70.085 Cancellation of certificate
70.090 Execution of certificate
70.095 Remedy for failure to execute certificate
70.100 Filing with Office of Secretary of State
70.105 Remedy for false statements in certificate
70.110 Filing as notice of limited partnership
70.115 Duty of general partners to deliver copy of certificate to each limited partner
70.125 Date person becomes limited partner; admission of additional limited partner
70.130 Voting rights
70.135 Liability of limited partner
70.140 Liability of person who erroneously believes person is limited partner
70.145 Powers of limited partner
70.175 Admission of additional general partners
70.180 When person ceases to be general partner
70.185 Rights, restrictions and liabilities of general partner
70.190 Rights and powers of general partner as general and limited partner
70.195 Voting rights
70.225 Form of contribution
70.230 Obligation of partner
70.235 Allocation of profits and losses
70.240 Allocation of distributions of assets
70.250 Entitlement to distributions
70.255 Withdrawal of partner
70.260 Entitlements of withdrawing partner
70.265 Rights of partner regarding distribution; remedies
70.270 Limit on distribution
70.275 Liability of partner who receives return of contribution
70.285 Partnership as personal property
70.290 Assignability of partnership interest
70.295 Rights of judgment creditor of partner
70.300 Assignee of partnership interest as limited partner
70.305 Death, incompetency, dissolution or termination of partner
70.325 When dissolution occurs
70.330 Judgment of dissolution
70.335 Who may wind up partnership affairs
70.340 Distribution of assets
70.350 Law applicable to foreign limited partnership
70.355 Registration of foreign limited partnership; rules
70.365 Name requirements
70.370 Correction of application
70.375 Cancellation of registration
70.380 Registration prerequisite to suing in state; effect on contracts, liability; agent
70.385 Attorney General’s enforcement
70.400 Action by limited partner upon refusal of general partner
70.405 Status of plaintiff
70.410 Content of complaint
70.415 Remittance of proceeds received by plaintiff; attorney fees
70.430 Grounds for administrative action to inactivate certificate or registration of limited partnership
70.435 Notice of administrative inactivation; effect of inactivation on authority of registered agent
70.440 Reinstatement following administrative inactivation
70.500 Definitions for ORS 70.500 to 70.540
70.510 Action on plan of conversion
70.520 Effect of conversion; assumed business name
70.530 Action on plan of merger
70.600 Construction to promote uniformity
70.605 Application to partnerships existing prior to July 1, 1986
70.610 Annual report; updates; rules
70.615 Application of ORS chapter 67
70.620 Correction of documents; effective date of correction
70.625 Short title
70.990 Penalty for signing false document
(1) “Certificate of limited partnership” means the certificate referred to in ORS 70.075, and the certificate as amended, articles of conversion and articles of merger.
(2) “Contribution” means any cash, property, services rendered, or a promissory note or other binding obligation to contribute cash or property or to perform services, that a partner contributes to a limited partnership in the capacity as a partner.
(3) “Corporation” or “domestic corporation” means a corporation for profit incorporated under ORS chapter 60.
(4) “Domestic limited liability company” means an entity that is an unincorporated association having one or more members and that is organized under ORS chapter 63.
(5) “Domestic nonprofit corporation” means a corporation not for profit incorporated under ORS chapter 65.
(6) “Domestic professional corporation” means a corporation organized under ORS chapter 58 for the purpose of rendering professional services and for the purposes provided under ORS chapter 58.
(7) “Event of withdrawal of a general partner” means an event that causes a person to cease to be a general partner as provided in ORS 70.180.
(8) “Foreign corporation” means a corporation for profit incorporated under laws other than the laws of this state.
(9) “Foreign limited liability company” means an entity that is an unincorporated association organized under laws other than the laws of this state and that is organized under a statute under which an association may be formed that affords to each of the entity’s members limited liability with respect to liabilities of the entity.
(10) “Foreign limited partnership” means a partnership formed under laws other than the laws of this state and having as partners one or more general partners and one or more limited partners.
(11) “Foreign nonprofit corporation” means a corporation not for profit organized under laws other than the laws of this state.
(12) “Foreign professional corporation” means a professional corporation organized under laws other than the laws of this state.
(13) “General partner” means a person who has been admitted to a limited partnership as a general partner in accordance with the partnership agreement and named in the certificate of limited partnership as a general partner.
(14) “Limited partner” means a person who has been admitted to a limited partnership as a limited partner in accordance with the partnership agreement.
(15) “Limited partnership” and “domestic limited partnership” mean a partnership formed by two or more persons under the laws of this state and having one or more general partners and one or more limited partners.
(16) “Partner” means a limited or general partner.
(17) “Partnership agreement” means any valid agreement, written or oral, of the partners as to the affairs of a limited partnership and the conduct of the business of the limited partnership.
(18) “Partnership interest” means a partner’s share of the profits and losses of a limited partnership and the right to receive distributions of partnership assets.
(19) “Person” means an individual, partnership, limited partnership (domestic or foreign), association or corporation. [1985 c.677 §2; 1987 c.414 §65; 1987 c.543 §1; 1999 c.362 §53; 2001 c.315 §36; 2005 c.107 §5; 2009 c.14 §5; 2009 c.294 §9]
70.020 Office in state. Each limited partnership shall continuously maintain in this state an office at which the records referred to in ORS 70.050 shall be kept. The office may be but need not be a place of business of the limited partnership in this state and may not be a commercial mail receiving agency, a mail forwarding business or a virtual office. [1985 c.677 §5; 2017 c.705 §28]
70.025 Registered agent; registered office; changing agent. (1)(a) A domestic limited partnership and a foreign limited partnership that does business in this state and all general partners of each domestic limited partnership or foreign limited partnership must continuously maintain in this state a registered agent and a registered office. The registered office must be located at a physical street address where process may be personally served on the registered agent. The registered office may not be a commercial mail receiving agency, a mail forwarding business or a virtual office.
70.067 Forms; rules. Upon request, the Secretary of State may furnish forms for documents required or permitted to be filed by this chapter. The Secretary of State may by rule require the use of the forms. [1995 c.215 §17]
70.075 Formation of limited partnership; certificate of limited partnership; rules. (1) To form a limited partnership, a certificate of limited partnership must be executed and submitted for filing to the Office of Secretary of State. The certificate shall set forth the following:
(2) A limited partner may withdraw from a limited partnership at the time or upon the happening of events specified in writing in the partnership agreement. If the partnership agreement does not specify in writing the time or the events upon the happening of which a limited partner may withdraw or a definite time for the dissolution and winding up of the limited partnership, a limited partner may withdraw upon not less than six months’ prior written notice to each general partner at the general partner’s address on the books of the limited partnership at its office in this state. [1985 c.677 §§33,34; 1987 c.543 §23]
(2) When a partner becomes entitled to receive a distribution, the partner has the status of and is entitled to all remedies available to a creditor of the limited partnership with respect to the distribution. [1985 c.677 §§36,37; 1987 c.543 §24]
70.330 Judgment of dissolution. On application by or for a partner, the circuit court may enter a judgment for the dissolution of a limited partnership whenever it is not reasonably practicable to carry on the business in conformity with the partnership agreement. [1985 c.677 §46; 2003 c.576 §332]
70.355 Registration of foreign limited partnership; rules. (1) Before transacting business in this state, a foreign limited partnership shall register with the Secretary of State. In order to register, a foreign limited partnership shall submit for filing to the office of Secretary of State an application for registration as a foreign limited partnership. The application must be signed by a general partner and must set forth the following:
(c) The foreign limited partnership’s registry number in the state or country under whose law the foreign limited partnership is registered.
(d) The name and street address of the initial registered agent which the foreign limited partnership and all general partners of the foreign limited partnership are required to maintain in this state under ORS 70.025.
(e) A mailing address to which the Secretary of State may mail notices required by this chapter.
(f) The address of the office where the records listed in ORS 70.050 are maintained together with an undertaking by the foreign limited partnership to keep these records until the foreign limited partnership’s registration in this state is canceled.
(g) The name and business address of each general partner.
(h) Any additional identifying information that the Secretary of State may require by rule.
(3) A general partner’s executing the application for registration as a foreign limited partnership constitutes an affirmation under the applicable penalties of false swearing or perjury that the facts stated in the application are true.
(4)(a) Except as provided in paragraph (b) of this subsection, the foreign limited partnership shall deliver with the completed application a certificate of existence or a similar document that is current within 60 days of the date of delivery. The certificate or document must be authenticated by the official having custody of limited partnership records in the state or country under whose law the partnership is organized.
(b) A foreign limited partnership need not submit a certificate of existence or document in accordance with paragraph (a) of this subsection if the official who has custody of limited partnership records in the state or country under whose law the limited partnership is registered provides free access via the Internet to a searchable database that contains evidence of limited partnership registrations. [1985 c.677 §50; 1987 c.543 §28; 1991 c.132 §9; 1995 c.215 §19; 1999 c.486 §16; 2011 c.147 §21]
70.365 Name requirements. The Secretary of State shall not register a foreign limited partnership whose name does not meet the requirements of ORS 70.010 (1)(c) unless the foreign limited partnership states its name on its application as (name of limited partnership), a limited partnership of (place of registration), which shall be the “real and true name” of the limited partnership. [1985 c.677 §52; 1987 c.543 §30]
70.440 Reinstatement following administrative inactivation. (1) A limited partnership that the Secretary of State administratively inactivated under ORS 70.430 may apply to the Secretary of State for reinstatement within five years from the date of inactivation. The application must:
(a) State the name of the limited partnership and effective date of the limited partnership’s administrative inactivation; and
(3) When effective, the reinstatement relates back to and takes effect as of the effective date of the administrative inactivation and the limited partnership is considered to resume carrying on the limited partnership’s business as if the administrative inactivation had never occurred.
(4) The Secretary of State may waive the requirement under subsection (1) of this section that the limited partnership apply for reinstatement within five years after the date of administrative inactivation if the limited partnership requests the waiver and provides evidence of the limited partnership’s continued existence as an active concern during the period of administrative inactivation. [1995 c.215 §20; 2011 c.147 §22]
(E) A limited partnership organized under this chapter, predecessor law or comparable law of another jurisdiction; and
(e) General partner or limited partner of a limited partnership. [1999 c.362 §56; 2003 c.80 §29]
70.505 Conversion. (1)(a) A business entity may be converted to a limited partnership organized under this chapter.
(b) A limited partnership organized under this chapter may be converted to another business entity organized under the laws of this state if the statutes that govern the other business entity permit the conversion.
(2) A limited partnership organized under this chapter may be converted to a business entity organized under the laws of another jurisdiction if:
(b) The converting limited partnership approves a plan of conversion;
(e) The limited partnership complies with any requirements that the laws of the other jurisdiction impose with respect to the conversion.
(3) A plan of conversion must set forth:
(4) The plan of conversion may set forth other provisions relating to the conversion. [1999 c.362 §57; 2001 c.315 §20; 2003 c.80 §24; 2011 c.147 §23]
70.515 Articles and plan of conversion. (1) After the owners approve a conversion, the converting business entity shall:
(a) The time and date on which the articles of conversion are filed;
(b) The time and date on which any additional filing requirements imposed pursuant to the statutes that govern the surviving business entity are satisfied; or
(c) On the delayed effective date and time set forth in the filings. [1999 c.362 §59; 2001 c.315 §11; 2015 c.28 §10]
70.520 Effect of conversion; assumed business name. (1) When a conversion to or from a limited partnership pursuant to ORS 70.505 takes effect:
70.525 Merger. (1) One or more business entities may merge into a limited partnership organized under this chapter if the merger is permitted by the statutes governing each other business entity that is a party to the merger, a plan of merger is approved by each business entity that is a party to the merger and articles of merger are filed. A limited partnership organized under this chapter may be merged into a business entity organized under the laws of this state or under the laws of another jurisdiction if:
(d) The limited partnership complies with all requirements imposed under the laws of this state and, if applicable, the laws of the other jurisdiction with respect to the merger.
(b) Other provisions relating to the merger. [1999 c.362 §61; 2001 c.315 §21; 2003 c.80 §25]
70.535 Articles and plan of merger. (1) After each business entity that is a party to a merger has approved a plan of merger, the surviving business entity shall deliver to the Office of Secretary of State for filing:
(c) A written declaration that states that any party that was a limited partnership approved the plan of merger in accordance with ORS 70.525 and any party that was another business entity approved the plan of merger in accordance with the statutes that govern the other business entity.
(a) The time and date on which the articles of merger are filed;
(b) The time and date on which all documents required to be filed by the statute that governs any party to the merger that is a business entity other than a limited partnership are filed; or
(c) Any later effective date specified in the articles of merger. [1999 c.362 §63; 2001 c.104 §22; 2015 c.28 §11]
70.610 Annual report; updates; rules. (1) A domestic limited partnership and a foreign limited partnership registered to transact business in this state shall submit for filing an annual report to the office of the Secretary of State that includes:
(a) The name of the domestic or foreign limited partnership and the state or country under the law of which the domestic or foreign limited partnership is formed;
(b) The street address of the domestic or foreign limited partnership’s registered office in this state and the name of the domestic or foreign limited partnership’s registered agent at the registered office;
(d) A description of the primary business activity of the domestic or foreign limited partnership;
(f) A mailing address to which the Secretary of State may mail notices required by this chapter; and
(g) Additional identifying information that the Secretary of State may require by rule.
(2) The annual report must be on forms prescribed and furnished by the Secretary of State. The information contained in the annual report must be current as of 30 days before the anniversary of the domestic or foreign limited partnership.
(3) The annual report must be signed by at least one general partner, or by an agent of a general partner, if the general partner authorizes the agent to sign the document, or if the domestic or foreign limited partnership is in the hands of a receiver or trustee, the receiver or trustee must sign the annual report on behalf of the partnership.
(4) The Secretary of State shall mail the annual report form to the address shown for the domestic or foreign limited partnership in the current records of the office of the Secretary of State. The domestic or foreign limited partnership’s failure to receive the annual report form from the Secretary of State does not relieve the limited partnership of the limited partnership’s duty under this section to deliver an annual report to the office.
(6)(a) A domestic or foreign limited partnership may update information that is required or permitted in an annual report filing at any time by delivering to the office of the Secretary of State for filing:
(B) A statement with the change if the update occurs before the domestic or foreign limited partnership files the first annual report.
(b) This subsection applies only to a change that is not required to be made by an amendment to the certificate of limited partnership.
(A) The name of the limited partnership as shown on the records of the office; and
(B) The information as changed. [Formerly 70.460; 2001 c.104 §23; 2001 c.315 §37; 2007 c.186 §12; 2011 c.147 §24; 2013 c.159 §13; 2015 c.27 §4]
70.615 Application of ORS chapter 67. In any case governing limited partnerships that is not provided for in this chapter, the provisions of ORS chapter 67 govern. [Formerly 70.465]
70.990 Penalty for signing false document. (1) A person commits the crime of signing a false document for filing if the person:
(2) Signing a false document for filing is a Class A misdemeanor. [2013 c.158 §10]