Oregon Statutes 744.602 – Definitions
As used in ORS § 744.602 to 744.665:
Terms Used In Oregon Statutes 744.602
- 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
(1) ‘Business entity’ means a corporation, limited liability company, partnership, limited liability partnership, association or other legal entity that is incorporated, organized or authorized to engage in business in this state.
(2) ‘Insurance consultant’ means a person that meets the description in ORS § 744.605 of a person that engages in business as an insurance consultant.
(3) ‘Licensee’ means a person that holds a valid and unexpired license to engage in business as an insurance consultant that the person obtained under ORS § 744.614.
(4) ‘Person’ means an individual or a business entity.
(5) ‘Resident’ means a licensee that resides or maintains a principal place of business in this state. [2019 c.151 § 11]