Oregon Revised Statutes Chapter 63 § 63.245 — Admission of members

Admission of members. (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. [1993 c.173 §49; 1995 c.93 §13; 1997 c.646 §4]