Oregon Statutes 705.638 – Company defined; organization requirements for companies conducting banking business
Current as of: 2023 | Check for updates
|
Other versions
(1) For purposes of this section, ‘company’ means a corporation, nonprofit corporation, cooperative, limited liability company, partnership, limited liability partnership, limited partnership, business trust, association or other business entity.
Terms Used In Oregon Statutes 705.638
- 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.
(2) A company organized under the laws of this state for the purposes of conducting a banking business as defined in ORS § 706.005 (6) either within or outside this state shall be organized under ORS Chapter 707. [2001 c.315 § 44; 2009 c.541 § 26]