Oregon Code § 63.431·Enacted ·Last updated March 01, 2026
Statute Text
Operating agreement.
(1) An operating agreement of a limited liability company may provide for the
regulation and management of the affairs of the limited liability company in
any manner not inconsistent with law or the articles of organization.
(2) The power to
adopt, alter, amend or repeal an operating agreement of a limited liability
company shall be vested in the members of the limited liability company, or for
a single member limited liability company, in the sole member of the limited
liability company, unless otherwise vested in a manager or managers of the
limited liability company by the articles of organization or any operating
agreement.
(3) The members
may amend or repeal any operating agreement even if the articles of
organization or any operating agreement provide that a manager or managers may
amend or repeal an operating agreement. [1993 c.173 §70; 1997 c.646 §8]
Plain English Explanation
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 63.431
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Operating agreement. Read the full statute text above for details.
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