(1) A notary public who is a shareholder, director, officer, employee, member or partner of a business entity may:

Terms Used In Oregon Statutes 194.385

  • Acknowledgment: means a declaration by an individual before a notarial officer that the individual has signed a record for the purpose stated in the record and, if the record is signed in a representative capacity, that the individual signed the record with proper authority and signed it as the act of the person identified in the record. See Oregon Statutes 194.215
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Notary public: means an individual commissioned to perform a notarial act by the Secretary of State. See Oregon Statutes 194.215
  • Oath: A promise to tell the truth.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.

(a) Take the acknowledgment of any party to any written instrument executed to or by the business entity; or

(b) Administer an oath to any other shareholder, director, officer, employee, member or partner of the business entity or to any agent of the business entity.

(2) A notary public may not take the acknowledgment of an instrument executed to or by a business entity of which the notary public is a shareholder, director, officer, employee, member or partner, if the notary public is a party to the instrument, either individually or as a representative of the business entity.

(3) As used in this section:

(a) ‘Business entity’ means a financial institution, trust company, corporation, professional corporation, cooperative, limited liability company, nonprofit corporation, partnership, limited liability partnership or limited partnership.

(b) ‘Financial institution’ has the meaning given that term in ORS § 706.008.

(c) ‘Trust company’ has the meaning given that term in ORS § 706.008. [2013 c.219 § 36 (enacted in lieu of 194.100)]

 

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