2011 ORS § 701.114¹
Change in responsible managing individual or persons exercising control of contractor

(1) Except as provided in this subsection, a contractor licensed under this chapter shall immediately notify the Construction Contractors Board of any change in the identity, name or address of a person who holds a position with the contractor that is described in ORS 701.046 (License application) (1)(h) or (i) or of a responsible managing individual for the contractor as defined in ORS 701.091 (Responsible managing individual). A contractor described in ORS 701.046 (License application) (2) is not required to report a change in the identity, name or address of a person described in ORS 701.046 (License application) (1)(h) or (i).

(2) Except as provided in this subsection, if a partner or joint venturer departs from a contractor that is a partnership or joint venture, the contractor must obtain a new license before continuing to conduct activities that require a license under this chapter. A contractor described in ORS 701.046 (License application) (2) that is a partnership or joint venture is not required to obtain a new license upon departure of a partner or joint venturer. [2007 c.114 §7; 2007 c.478 §1a; 2009 c.226 §7]