Source: http://paperadvantage.org/ORS/063.html
Timestamp: 2018-10-21 05:44:18
Document Index: 93963279

Matched Legal Cases: ['§48', '§2', '§1', '§1', '§1', '§28', '§34', '§25', '§3', '§8', '§9', '§9', '§21', '§5', '§24', '§27', '§48', '§31', '§32', '§16', '§34', '§9', '§90', '§36', '§17', '§92', '§38', '§54', '§18', '§10', '§56', '§62', '§63', '§106', '§64', '§11', '§65', '§66', '§68', '§69', '§77', '§16', '§86', '§88', '§100', '§23', '§18', '§101', '§13', '§1', '§1', '§102']

Note: Section 48, chapter 315, Oregon Laws 2001, provides:
Sec. 48. Applicability provisions. (1) On and after October 23, 1999, the following apply to all limited liability companies:
(a) The amendments to ORS 63.001, 63.034, 63.047, 63.130, 63.140, 63.160, 63.165, 63.229, 63.235, 63.437, 63.441, 63.629, 63.707, 63.771, 63.784 and 63.787 by sections 1 to 5, 9 to 18 and 22, chapter 86, Oregon Laws 1999; and
(b) The repeal of ORS 63.135, 63.145 and 63.150 by section 23, chapter 86, Oregon Laws 1999.
(2) Before January 1, 2005, ORS 63.155, as amended by section 8, chapter 86, Oregon Laws 1999, and section 23 of this 2001 Act, governs only:
(a) Limited liability companies created on or after October 23, 1999; and
(b) Limited liability companies created before October 23, 1999, that elect, in the manner provided in the limited liability company’s operating agreement or by law for amending the operating agreement, to be governed by ORS 63.155, as amended by section 8, chapter 86, Oregon Laws 1999, and section 23 of this 2001 Act.
(3) On and after January 1, 2005, ORS 63.155, as amended by section 8, chapter 86, Oregon Laws 1999, and section 23 of this 2001 Act, governs all limited liability companies.
(4) The amendments to ORS 63.155 by section 23 of this 2001 Act are intended to clarify the meaning and application of ORS 63.155, as amended by section 8, chapter 86, Oregon Laws 1999, and shall be effective as if enacted as part of section 8, chapter 86, Oregon Laws 1999. [2001 c.315 §48]
(2) "Articles of organization" means the document described in ORS 63.047 for the purpose of forming a limited liability company, including articles of organization as they may be amended or restated, articles of conversion and articles of merger.
(11) "Foreign limited liability company" means an entity that is an unincorporated association that is organized under the laws of a state other than of this state or under the laws of any foreign country and that is organized under a statute pursuant to which an association may be formed that affords to each of its members limited liability with respect to the liabilities of the entity.
(31) "United States" includes a district, authority, bureau, commission, department or any other agency of the United States. [1993 c.173 §2; 1995 c.93 §1; 1997 c.646 §1; 1999 c.86 §1; 1999 c.362 §28; 2001 c.315 §34]
63.002 "Person" includes limited liability company; "partners," "directors" or "shareholders" includes managers or members of limited liability company. Unless the context otherwise requires, throughout Oregon Revised Statutes:
(1) Wherever the term "person" is defined to include both a corporation and a partnership, the term "person" shall also include a limited liability company.
(2) Wherever a section of Oregon Revised Statutes applies to both "partners" and "directors," the section shall also apply:
(3) Wherever a section of Oregon Revised Statutes applies to both "partners" and "shareholders," the section shall also apply to members of a limited liability company. [1995 c.93 §25]
63.004 Filing requirements. (1) A document must satisfy the requirements of this section, as modified by any other provision of this chapter, to be entitled to filing by the Secretary of State.
(2) This chapter must require or permit filing the document with the office.
(6) Unless otherwise specified in this chapter, each document or report required by this chapter to be filed with the office shall be executed in the following manner:
(a) Articles of organization shall be signed by or on behalf of one or more persons wishing to form the limited liability company.
(b) Articles of amendment shall be signed by at least one member or manager.
(c) Each annual report shall be signed by one member or manager.
(d) If the limited liability company is in the hands of a receiver, trustee or other court-appointed fiduciary, a document or report shall be signed by that receiver, trustee or fiduciary.
(7) The person executing the document shall state beneath or opposite the signature the name of the person and the capacity in which the person signs. The document may, but is not required to, contain an acknowledgment, verification or proof.
(8) If the Secretary of State has prescribed a mandatory form for the document under ORS 63.016, the document must be in or on the prescribed form.
(9) The document must be delivered to the office accompanied by the required fees.
(10) Delivery of a document to the office is accomplished only when the document is actually received by the office. [1993 c.173 §3]
63.017 Filing duty of Secretary of State. (1) If a document delivered to the Office of the Secretary of State for filing satisfies the requirements of ORS 63.004, the Secretary of State shall file it.
(2) The Secretary of State files a document by indicating thereon that it has been filed by the Secretary of State and the date of filing. After filing a document, the Secretary of State shall return an acknowledgment of filing to the domestic or foreign limited liability company or its representative.
(3) If the Secretary of State refuses to file a document, the Secretary of State shall return it to the domestic or foreign limited liability company or its representative within 10 business days after the document was delivered together with a brief written explanation of the reason for the refusal.
(5) The Secretary of State’s refusal to file a document does not create a presumption that the document is invalid or that information contained in the document is incorrect. [1993 c.173 §8; 1999 c.486 §9]
63.021 Appeal from Secretary of State’s refusal to file document. If the Secretary of State refuses to file a document delivered to the office for filing, the domestic or foreign limited liability company, in addition to any other legal remedy which may be available, shall have the right to appeal from such order pursuant to the provisions of ORS 183.310 to 183.550. [1993 c.173 §9]
63.047 Articles of organization. (1) The articles of organization shall set forth:
(a) The name of the limited liability company which satisfies the requirements of ORS 63.094;
(g) If a limited liability company is to render professional service or services, as defined in ORS 58.015, the professional service or services to be rendered through the limited liability company.
63.074 Purposes. (1) Except as otherwise provided by the laws of this state and in this section, a limited liability company formed under this chapter may conduct or promote any lawful business or purpose which a partnership, corporation or professional corporation as defined in ORS 58.015 may conduct or promote, unless a more limited purpose is set forth in the articles of organization.
(2) Subject to the laws of this state, the rules and regulations of the regulatory board of the profession, if any, and the standards of professional conduct of the profession, if any, a limited liability company or its members may render professional service in this state. Notwithstanding any other law, members, including members who are managers, of a limited liability company who are also professionals, as defined in ORS 58.015, shall be personally liable as members of the limited liability company to the same extent and in the same manner as provided for shareholders of a professional corporation in ORS 58.185 and 58.187 and as otherwise provided in this chapter.
63.094 Limited liability company name. (1) The name of the limited liability company shall contain the words "limited liability company" or the abbreviation "L.L.C." or "LLC."
(2) A limited liability company name shall not contain the word or abbreviation "cooperative," "corporation," "corp.," "incorporated," "Inc.," "limited partnership," "L.P.," "LP," "Ltd.," "limited liability partnership," "L.L.P.," "LLP" or "partnership" or any derivation of any of the foregoing.
(3) A limited liability company name shall be written in the alphabet used to write the English language and may include Arabic and Roman numerals and incidental punctuation.
(4) A limited liability company name shall be distinguishable upon the records of the office from any other limited liability company name, corporate name, professional corporate name, nonprofit corporate name, cooperative name, limited partnership name, business trust name, reserved name, registered corporate name or assumed business name of active record with the office.
(b) Derogate from the common law, the principles of equity or the statutes of this state or of the United States with respect to the right to acquire and protect trade names. [1993 c.173 §21; 1995 c.93 §5]
63.111 Registered office and registered agent. (1) Each limited liability company shall continuously maintain in this state a registered agent and registered office that may be, but need not be, the same as any of its places of business.
(c) A foreign limited liability company, foreign corporation, foreign professional corporation or foreign nonprofit corporation authorized to transact business in this state whose business office is identical to the registered office. [1993 c.173 §24; 2001 c.315 §27]
63.239 Nature of membership interest. A membership interest is personal property. A member is not a coowner of and has no interest in specific limited liability company property. [1993 c.173 §48]
(4) Change the limited liability company’s name by substituting "limited liability company" for the abbreviation "L.L.C." or "LLC," substituting the abbreviation "L.L.C." for "limited liability company" or "LLC," or substituting the abbreviation "LLC" for "limited liability company" or "L.L.C."; or
(d) A limited liability company organized under this chapter or comparable law of another jurisdiction;
(f) A limited partnership organized under ORS chapter 70, predecessor law or comparable law of another jurisdiction.
(e) General partner or limited partner of a limited partnership. [1999 c.362 §31]
63.470 Conversion. (1) A business entity other than a limited liability company may be converted to a limited liability company organized under this chapter, and a limited liability company may be converted to another business entity organized under the laws of this state, if conversion is permitted by the statutes governing the other business entity, by approving a plan of conversion and filing articles of conversion. A limited liability company organized under this chapter may be converted to a business entity organized under the laws of another jurisdiction if:
(b) A plan of conversion is approved by the converting limited liability company;
(e) The limited liability company complies with any requirements imposed under the laws of the other jurisdiction.
(3) The plan of conversion may set forth other provisions relating to the conversion. [1999 c.362 §32; 2001 c.315 §16]
63.476 Articles of conversion. (1) After conversion is approved by the owners, the converting business entity shall file articles of conversion, which shall state the name and type of business entity prior to conversion and the name and type of business entity after conversion, and shall include the plan of conversion.
(2) The conversion takes effect at the later of the date and time determined pursuant to ORS 63.011 or the date and time determined pursuant to the statutes governing the business entity that is not a limited liability company. [1999 c.362 §34; 2001 c.315 §9]
63.481 Merger. (1) One or more business entities may merge into a limited liability company organized under the laws of this state if the merger is permitted by the statutes governing each 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 liability company organized under this chapter may be merged into a business entity organized under the laws of another jurisdiction if:
(a) The merger is permitted by the laws of that jurisdiction;
(d) The limited liability company complies with any requirements imposed under the laws of the other jurisdiction.
(b) Other provisions relating to the merger. [1993 c.173 §90; 1999 c.362 §36; 2001 c.315 §17]
63.494 Articles of merger. (1) After a plan of merger is approved by each business entity that is a party to the merger, the surviving business entity shall deliver to the office of the Secretary of State, for filing, articles of merger setting forth:
(b) A statement that the plan of merger was duly authorized and approved by each business entity that is a party to the merger in accordance with ORS 63.487.
(2) The merger takes effect on the later of the date and time determined pursuant to ORS 63.011 or the date and time determined pursuant to the statutes governing any party to the merger that is a business entity other than a limited liability company. [1993 c.173 §92; 1999 c.362 §38]
(6) Upon entry of a decree of judicial dissolution under ORS 63.671. [1993 c.173 §54; 1995 c.93 §18; 1997 c.646 §10]
(4) For purposes of this section, "claim" does not include a contingent liability or a claim based on an event occurring after the effective date of dissolution. [1993 c.173 §56]
(2) The limited liability company does not deliver its annual report to the Secretary of State when due;
(3) The limited liability company is without a registered agent or registered office in this state;
(4) The limited liability company does not notify the Secretary of State that its registered agent or registered office has been changed, that its registered agent has resigned or that its registered office has been discontinued; or
(5) The limited liability company’s period of duration stated in its articles of organization expires. [1993 c.173 §62]
(2) If the limited liability company does not correct each ground for dissolution or demonstrate to the reasonable satisfaction of the Secretary of State, within 45 days after notice is given, that each ground determined by the Secretary of State does not exist, the Secretary of State shall dissolve the limited liability company.
(3) A limited liability company administratively dissolved continues its existence but may not carry on any business except that necessary to wind up and liquidate its business and affairs under ORS 63.637 and notify claimants under ORS 63.641 and 63.644.
(4) The administrative dissolution of a limited liability company does not terminate the authority of its registered agent. [1993 c.173 §63; 1993 c.173 §106]
63.654 Reinstatement following administrative dissolution. (1) A limited liability company administratively dissolved under ORS 63.651 may apply to the Secretary of State for reinstatement within five years from the date of dissolution. The application shall:
(a) State the name of the limited liability company and the effective date of its administrative dissolution; and
(3) When the reinstatement is effective, it relates back to and takes effect as of the effective date of the administrative dissolution and the limited liability company resumes carrying on its business as if the administrative dissolution had never occurred. [1993 c.173 §64; 1995 c.215 §11]
(2) The limited liability company may appeal the denial of the reinstatement pursuant to the provisions of ORS 183.310 to 183.550. [1993 c.173 §65]
63.661 Grounds for judicial dissolution. The circuit courts may dissolve a limited liability company:
(a) The limited liability company obtained its articles of organization through fraud; or
(b) The limited liability company has continued to exceed or abuse the authority conferred upon it by law.
(2) In a proceeding by or for a member if it is established that it is not reasonably practicable to carry on the business of the limited liability company in conformance with its articles of organization or any operating agreement.
(3) In a proceeding by the limited liability company to have its voluntary dissolution continued under court supervision. [1993 c.173 §66]
63.671 Decree of dissolution. (1) If after a hearing the court determines that one or more grounds for judicial dissolution described in ORS 63.661 exist, it may enter a decree dissolving the limited liability company and specifying the effective date of the dissolution. The clerk of the court shall deliver a certified copy of the decree to the office for filing. The Secretary of State shall file the certified copy of the decree.
(2) After entering the decree of dissolution, the court shall direct the winding up and liquidation of the limited liability company’s business and affairs in accordance with ORS 63.637, the notification of claimants and enforcement of claims in accordance with ORS 63.641 and 63.644, and the distribution of limited liability company assets in accordance with ORS 63.625. [1993 c.173 §68]
63.674 Deposit with Division of State Lands. Assets of a dissolved limited liability company that should be distributed to a creditor, claimant or member of the limited liability company who cannot be found or who is not competent to receive them shall be reduced to cash and, within six months after the final distribution of such liquidation or winding up is payable, deposited with the Division of State Lands. The receiver or other liquidating agent shall prepare in duplicate and under oath a statement containing the names and last-known addresses of the persons entitled to such funds. One of the statements shall be filed with the Division of State Lands and another shall be delivered to the office for filing. The funds shall then escheat to and become the property of the State of Oregon and shall become a part of the Common School Fund of the state. The owners, heirs or personal representatives of the owner may reclaim any funds so deposited in the manner provided for estates which have escheated to the state. [1993 c.173 §69]
63.707 Application for authority to transact business. (1) A foreign limited liability company may apply for authority to transact business in this state by delivering an application to the office for filing. The application shall set forth:
(a) The name of the foreign limited liability company or, if its name is unavailable for filing in this state, another name that satisfies the requirements of ORS 63.717;
(b) The name of the state or country under whose law it is organized;
(c) Its date of organization and either the date on which the period of its duration expires or a statement that its duration is perpetual;
(d) The address, including street and number, and mailing address, if different, of its principal office;
(e) The address, including street and number, of its registered office in this state and the name of its registered agent at that office;
(f) A statement that the foreign limited liability company satisfies the requirements of ORS 63.714 (3); and
(g) A statement whether the foreign limited liability company is member-managed or manager-managed, or shall specify whether the foreign limited liability company is managed by a manager or managers.
(2) The foreign limited liability company shall deliver with the completed application a certificate of existence, or a document of similar import, current within 60 days of delivery and authenticated by the official having custody of limited liability company records in the state or country under whose law it is organized. [1993 c.173 §77; 1999 c.86 §16]
(1) The foreign limited liability company does not deliver its annual report to the Secretary of State within the time prescribed by this chapter;
(3) The foreign limited liability company has failed to appoint or maintain a registered agent or registered office in this state as prescribed by this chapter;
(4) The foreign limited liability company does not inform the Secretary of State under ORS 63.724 or 63.727 that its registered agent or registered office has changed, that its registered agent has resigned or that its registered office has been discontinued;
(5) An organizer, manager, member or agent of the foreign limited liability company signed a document knowing it was false in any material respect with intent that the document be delivered to the office for filing;
(6) The foreign limited liability company no longer satisfies the requirements of ORS 63.714 (3);
(7) The Secretary of State receives a duly authenticated certificate from the official having custody of the limited liability company records in the state or country under whose law the foreign limited liability company is organized stating that it has been dissolved or has ceased to exist as the result of a merger or other reorganization transaction; or
(8) The period of duration of the foreign limited liability company expires. [1993 c.173 §86]
63.744 Appeal from revocation. In addition to any other legal remedy which may be available, a foreign limited liability company shall have the right to appeal the Secretary of State’s revocation of its authority to transact business in this state pursuant to the provisions of ORS 183.310 to 183.550. [1993 c.173 §88]
63.787 Annual report; rules. (1) Each domestic limited liability company, and each foreign limited liability company authorized to transact business in the state, shall by its anniversary deliver to the office of the Secretary of State for filing an annual report that sets forth:
(a) The name of the limited liability company and the state or country under whose law it is organized;
(b) The street address of its registered office and name of its registered agent at that office in this state;
(e) The category of the classification code established by rule of the Secretary of State most closely designating the primary business activity of the limited liability company;
(f) The federal employer identification number of the limited liability company; and
(2) The information contained on the annual report shall be current as of 30 days before the anniversary of the limited liability company.
(3) The Secretary of State shall mail the annual report form to any address shown for the limited liability company in the current records of the office. The failure of the limited liability company to receive the annual report form from the Secretary of State shall not relieve the limited liability company of its duty to deliver an annual report to the office as required by this section.
(4) If an annual report does not contain the information required by this section, the Secretary of State shall notify the reporting domestic or foreign limited liability company in writing and return the report to it for correction. The domestic or foreign limited liability company must correct the error within 45 days after the Secretary of State gives such notice.
(5) A domestic or foreign limited liability company may deliver to the office for filing an amendment to the annual report if a change in the information set forth in the annual report occurs after the report is delivered to the office for filing and before the next anniversary. This subsection applies only to a change that is not required to be made by an amendment to the articles of organization. The amendment to the annual report must set forth:
(b) The information as changed. [1993 c.173 §100; 1995 c.93 §23; 1999 c.86 §18]
63.810 Taxation of limited liability companies and members. For purposes of ORS chapters 305 to 324, a limited liability company formed under this chapter or qualified to do business in this state as a foreign limited liability company shall be classified in the same manner as it is classified for federal income tax purposes. For purposes of ORS chapters 305 to 324, a member or an assignee of a member of a limited liability company formed under this chapter or qualified to do business in this state as a foreign limited liability company shall have the same status as the member or assignee of a member has for federal income tax purposes. [1993 c.173 §101; 1997 c.646 §13; 1999 c.557 §1]
63.951 Short title. This chapter shall be known and may be cited as the "Oregon Limited Liability Company Act." [1993 c.173 §1]
63.990 Penalty for signing false document. (1) A person commits the crime of falsely signing a document for filing under this chapter if the person signs a document knowing it is false in any material respect with intent that the document be delivered to the office for filing.
(2) Falsely signing a document for filing is a Class B misdemeanor. [1993 c.173 §102]