Oregon Statutes 63.239 – Nature of membership interest
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A membership interest is personal property. A member is not a co-owner of and has no interest in specific limited liability company property. [1993 c.173 § 48]
Terms Used In Oregon Statutes 63.239
- Member: means a person with both an ownership interest in a limited liability company and all the rights and obligations of a member specified under this chapter. See Oregon Statutes 63.001
- Membership interest: means a member's collective rights in a limited liability company, including the member's share of profits and losses of the limited liability company, the right to receive distributions of the limited liability company's assets and any right to vote or participate in management. See Oregon Statutes 63.001
- Personal property: All property that is not real property.
[1959 c.660 § 4; repealed by 1981 c.68 § 1]