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While an LLC Operating Agreement in Oregon is not mandatory, it is highly recommended that you create one. An Operating Agreement is a written document that outlines the LLC's ownership, capital contributions, rights and responsibilities of management, rules, and operations.
The Oregon Revised Statutes are the codified laws of the State of Oregon. The ORS is published every two years. Each edition incorporates all laws, and changes to laws, enacted by the Legislative Assembly through the odd-numbered year regular session referenced in the volume titles for that edition.
Other states, such as Delaware and Oregon, don't recognize PLLCs. Instead, Delaware licensed professionals can form Registered Limited Liability Partnerships (RLLPs) or Professional Corporations (PCs).
The Oregon Business Corporation Act includes laws and regulations for corporations doing business in the state of Oregon. By forming a corporation, the owner's personal assets aren't at risk for legal or financial issues relating to the business.
Section 63.130 - Rights of members and managers; matters requiring consent of all or majority of members (1) In a member-managed limited liability company, unless otherwise provided in the articles of organization or any operating agreement: (a) Each member has equal rights in the management and conduct of the limited ...
The Oregon Limited Liability Company Act allows companies to enjoy the taxation that partnerships do as well as the personal liability that corporations enjoy.
The state of Oregon does not require an LLC to have an operating agreement. Nonetheless, it is highly advisable that an LLC create this document because it can protect its members from being held personally liable if it is sued.
To start an LLC in Oregon, you'll need to choose an Oregon registered agent, file business formation paperwork with the Oregon Secretary of State's Corporations Division, and pay a $100 state filing fee.