Inclusion of limited liability companies and managers and members of limited liability companies in definitions.

1. Law
2. Oregon Revised Statutes
3. Business Organizations, Commercial Code
4. Limited Liability Companies
5. Inclusion of limited liability companies and managers and members of limited liability companies in definitions.

(1) Wherever the term "person" is defined to include both a corporation and a partnership, the term "person" shall also include a limited liability company.

(2) Wherever a section of Oregon Revised Statutes applies to both "partners" and "directors," the section shall also apply:

(a) In a limited liability company with one or more managers, to the managers of the limited liability company.

(b) In a limited liability company without managers, to the members of the limited liability company.

(3) Wherever a section of Oregon Revised Statutes applies to both "partners" and "shareholders," the section shall also apply to members of a limited liability company. [1995 c.93 §25]

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