Oregon Statutes 671.605 – Effect of change in partners or corporate owners; fee
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A partnership or corporation licensed as a landscape contracting business shall notify the State Landscape Contractors Board immediately upon any change in partners or corporate owners or in the percentage of an ownership interest in the landscape contracting business. Upon a change in partners, a licensed partnership immediately shall apply for a new license and pay to the board the fee required by ORS § 671.650 for an original license. [1983 c.452 § 11; 2007 c.541 § 26]
Terms Used In Oregon Statutes 671.605
- 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.
- 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.