Oregon Statutes 63.671 – Judgment 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 judgment 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 judgment to the office for filing. The Secretary of State shall file the certified copy of the judgment.
Terms Used In Oregon Statutes 63.671
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Distribution: means a direct or indirect transfer of money or other property, except of a limited liability company's own interests, or a limited liability company's incurrence of indebtedness to or for the benefit of the limited liability company's members in respect of a member's interests, whether in the form of a declaration or payment of profits, a purchase, retirement or other acquisition of interests, a distribution of indebtedness, or otherwise. See Oregon Statutes 63.001
(2) After entering the judgment 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; 2003 c.576 § 328]
(Disposition of Assets)