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Current as of January 01, 2023 | Updated by Findlaw Staff
(1) A person becomes a member of a limited liability company on the later of:
(a) The date the initial articles of organization are filed; or
(b) The date stated in the records of the limited liability company as the date the person becomes a member.
(2) After the filing of the limited liability company's initial articles of organization, a person may be admitted as a member of the limited liability company upon compliance with the articles of organization or any operating agreement, or, if neither the articles of organization nor any operating agreement so provide:
(a) In the case of a person acquiring a membership interest directly from the limited liability company, upon the consent of a majority of the members;
(b) In the case of an assignee of a limited liability company membership interest not governed by paragraph (c) of this section, upon the consent of a majority of the members other than the assignor; or
(c) In the case of an assignee of a membership interest in a limited liability company in which, immediately following the assignment, the limited liability company otherwise would have no members, simultaneously with and upon the assignment of the membership interest.
Cite this article: FindLaw.com - Oregon Revised Statutes Corporations and Partnerships § 63.245 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-7-corporations-and-partnerships/or-rev-st-sect-63-245/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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