Oregon Statutes 67.603 – Application for registration; effective date; fee; duration of status as limited liability partnership
(1) After the approval required by ORS § 67.600 (3), a partnership may become a limited liability partnership by delivering an application for registration to the office of the Secretary of State for filing.
Terms Used In Oregon Statutes 67.603
- Business: includes every trade, occupation, profession and commercial activity. See Oregon Statutes 67.005
- Limited liability partnership: means a partnership that has registered under ORS § 67. See Oregon Statutes 67.005
- 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.
- Partnership: means an association of two or more persons to carry on as co-owners a business for profit created under ORS § 67. See Oregon Statutes 67.005
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
- Professional service: means the service rendered by a professional. See Oregon Statutes 67.005
- State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico or any territory or insular possession subject to the jurisdiction of the United States. See Oregon Statutes 67.005
(2) The application for registration shall set forth the following information:
(a) The name of the partnership;
(b) The address, including street and number, and mailing address, if different, of the principal office from which the partnership conducts its business;
(c) A mailing address to which notices as required by this chapter may be mailed until an address has been designated by the limited liability partnership in its annual report;
(d) A brief statement describing the primary business activity of the partnership and, for a partnership rendering a professional service or services, the professional service or services to be rendered through the partnership;
(e) A representation by the partner or partners executing the application for registration that the application for registration has been approved by a vote of the partners as required by ORS § 67.600 (3); and
(f) The names and addresses of at least two partners of the partnership.
(3) The application for registration may set forth any other provisions, not inconsistent with law, that the partnership may decide to include in the application.
(4) The filing of an application for registration establishes that the partnership has satisfied all conditions precedent to the qualification of the partnership as a limited liability partnership.
(5) The status of the partnership as a limited liability partnership is effective upon filing of the application for registration or, if applicable, upon the delayed effective time and date set forth in the application for registration in accordance with ORS § 67.017, and the payment of the required fee. The status remains effective, regardless of changes in the partnership, until the registration is voluntarily canceled pursuant to ORS § 67.606 or the registration is revoked pursuant to ORS § 67.660. The cancellation or revocation of the registration shall not affect the personal liability of any partner with respect to any obligations of the limited liability partnership that are incurred by the limited liability partnership prior to the effective date of the cancellation or revocation of the registration.
(6) A partnership that is a limited liability partnership on January 1, 1998, shall not be required to file a new registration by reason of this chapter to continue its status as a limited liability partnership. [Formerly 67.590]