As used in ORS § 744.602 to 744.665:

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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]