Oregon Statutes 726.050 – Requirements for issuance of license
Current as of: 2023 | Check for updates
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The Director of the Department of Consumer and Business Services may not issue a license to a corporation, limited liability company or limited liability partnership or to a person using an assumed business name unless:
Terms Used In Oregon Statutes 726.050
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
(1) The limited liability company or limited liability partnership has filed the required documents under ORS Chapter 63 or 67;
(2) The person using the assumed business name has registered the name under ORS Chapter 648; or
(3) The corporation is an Oregon corporation in good standing or a foreign corporation legally qualified to do business in this state. [Amended by 2007 c.360 § 1]