ORS 70.300
Assignee of partnership interest as limited partner


(1)

An assignee of a partnership interest, including an assignee of a general partner, may become a limited partner if and to the extent that:

(a)

The assignor gives the assignee that right in accordance with authority described in the partnership agreement; or

(b)

All other partners consent.

(2)

An assignee who has become a limited partner has, to the extent assigned, the rights and powers, and is subject to the restrictions and liabilities, of a limited partner under the partnership agreement and this chapter. An assignee who becomes a limited partner also is liable for the obligations of the assignor to make and return contributions as provided in ORS 70.225 (Form of contribution) to 70.275 (Liability of partner who receives return of contribution). However, the assignee is not obligated for liabilities that were unknown to the assignee at the time the assignee became a limited partner and that could not be ascertained from the certificate of limited partnership.

(3)

If an assignee of a partnership interest becomes a limited partner, the assignor is not released from the assignor’s liability to the limited partnership under ORS 70.105 (Remedy for false statements in certificate) and 70.230 (Obligation of partner). [1985 c.677 §43; 1987 c.543 §26]

Source: Section 70.300 — Assignee of partnership interest as limited partner, https://www.­oregonlegislature.­gov/bills_laws/ors/ors070.­html.

70.005
Definitions
70.010
Name of limited partnership
70.015
Reservation of limited partnership name
70.020
Office in state
70.025
Registered agent
70.030
Change of address and resignation procedures for registered agent
70.035
Scope of agency of registered agent
70.040
When Secretary of State to serve as agent
70.045
Effect of ORS 70.020 to 70.040
70.050
Records required in office in state
70.055
Authority of limited partnership
70.060
Authority of partner to do business with limited partnership
70.065
Filing, service, copying and certification fees
70.067
Forms
70.070
Filing duty of Secretary of State
70.075
Formation of limited partnership
70.080
Amendment of certificate
70.085
Cancellation of certificate
70.090
Execution of certificate
70.095
Remedy for failure to execute certificate
70.100
Filing with Office of Secretary of State
70.105
Remedy for false statements in certificate
70.110
Filing as notice of limited partnership
70.115
Duty of general partners to deliver copy of certificate to each limited partner
70.125
Date person becomes limited partner
70.130
Voting rights
70.135
Liability of limited partner
70.140
Liability of person who erroneously believes person is limited partner
70.145
Powers of limited partner
70.175
Admission of additional general partners
70.180
When person ceases to be general partner
70.185
Rights, restrictions and liabilities of general partner
70.190
Rights and powers of general partner as general and limited partner
70.195
Voting rights
70.225
Form of contribution
70.230
Obligation of partner
70.235
Allocation of profits and losses
70.240
Allocation of distributions of assets
70.250
Entitlement to distributions
70.255
Withdrawal of partner
70.260
Entitlements of withdrawing partner
70.265
Rights of partner regarding distribution
70.270
Limit on distribution
70.275
Liability of partner who receives return of contribution
70.285
Partnership as personal property
70.290
Assignability of partnership interest
70.295
Rights of judgment creditor of partner
70.300
Assignee of partnership interest as limited partner
70.305
Death, incompetency, dissolution or termination of partner
70.325
When dissolution occurs
70.330
Judgment of dissolution
70.335
Who may wind up partnership affairs
70.340
Distribution of assets
70.350
Law applicable to foreign limited partnership
70.355
Registration of foreign limited partnership
70.365
Name requirements
70.370
Correction of application
70.375
Cancellation of registration
70.380
Registration prerequisite to suing in state
70.385
Attorney General’s enforcement
70.400
Action by limited partner upon refusal of general partner
70.405
Status of plaintiff
70.410
Content of complaint
70.415
Remittance of proceeds received by plaintiff
70.430
Grounds for administrative action to inactivate certificate or registration of limited partnership
70.435
Notice of administrative inactivation
70.440
Reinstatement following administrative inactivation
70.500
Definitions for ORS 70.500 to 70.540
70.505
Conversion
70.510
Action on plan of conversion
70.515
Articles and plan of conversion
70.520
Effect of conversion
70.525
Merger
70.530
Action on plan of merger
70.535
Articles and plan of merger
70.540
Effect of merger
70.600
Construction to promote uniformity
70.605
Application to partnerships existing prior to July 1, 1986
70.610
Annual report
70.615
Application of ORS chapter 67
70.620
Correction of documents
70.625
Short title
70.990
Penalty for signing false document
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