Oregon Statutes 701.094 – Definition for ORS 701.098 and 701.102; rules
(1) As used in ORS § 701.098 and 701.102, ‘owner’ means:
Terms Used In Oregon Statutes 701.094
- Board: means the Construction Contractors Board. See Oregon Statutes 701.005
- 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
(a) A sole proprietor of, partner in or holder of a controlling interest in a business; or
(b) A person defined as an owner by Construction Contractors Board rule.
(2) The board shall adopt rules defining an owner for purposes of subsection (1) of this section. The rules may not define an owner in a manner that includes an investor who has no right to manage a business, including but not limited to:
(a) A person who is solely a minority shareholder in a corporation;
(b) A member of a manager-managed limited liability company; or
(c) A limited partner in a limited partnership who does not participate in the control of the business of the limited partnership. [Formerly 701.077]
[1971 c.740 § 11; 1975 c.721 § 4; 1981 c.618 § 5; repealed by 1987 c.414 § 172]