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Oregon Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act

Category:
Limited Liability Company - Operating Agreements
State:
Multi-State
Control #:
US-01931BG
Format:
Word
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Description

A Limited Liability Company (LLC) is a separate legal entity that can conduct business just like a corporation with many of the advantages of a partnership. It is taxed as a partnership. Its owners are called members and receive income from the LLC just as a partner would. There is no tax on the LLC entity itself. The members are not personally liable for the debts and obligations of the entity like partners would be. Basically, an LLC combines the tax advantages of a partnership with the limited liability feature of a corporation.


An LLC is formed by filing articles of organization with the secretary of state in the same type manner that articles of incorporation are filed. The articles must contain the name, purpose, duration, registered agent, and principle office of the LLC. The name of the LLC must contain the words Limited Liability Company or LLC. An LLC is a separate legal entity like a corporation.


Management of an LLC is vested in its members. An operating agreement is executed by the members and operates much the same way a partnership agreement operates. Profits and losses are shared according to the terms of the operating agreement.

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  • Preview Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act
  • Preview Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act
  • Preview Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act
  • Preview Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act
  • Preview Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act
  • Preview Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act
  • Preview Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act
  • Preview Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act

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FAQ

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.

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). Professional LLC - Northwest Registered Agent northwestregisteredagent.com ? types ? pllc northwestregisteredagent.com ? types ? pllc

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.

A limited liability company (LLC for short) is the United States-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. Limited liability company - Wikipedia wikipedia.org ? wiki ? Limited_liability_comp... wikipedia.org ? wiki ? Limited_liability_comp...

Delaware does NOT require an operating agreement. However, it is highly recommended to have a LLC operating agreement even if you are only a single member LLC. The state of Delaware recognizes operating agreements and governing documents.

A limited liability company (LLC) offers liability protection and tax advantages, among other benefits for small businesses. LLC formation in Oregon is easy. Just follow these six steps, and you'll be on your way. Ready to start your business? Plans start at $0 + filing fees. How to start an LLC in Oregon | .com ? articles ? how-to-start-an-ll... .com ? articles ? how-to-start-an-ll...

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. Oregon LLC Operating Agreement | UpCounsel 2023 upcounsel.com ? oregon-llc-operating-agree... upcounsel.com ? oregon-llc-operating-agree...

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