Some entrepreneurs in Oregon choose to make changes to their companies after some time. If you are one of them, you have to make sure you are ready to go through the process. You can start by understanding the changes that require you to file formal paperwork.
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Oregon requires all businesses that decide to change items on their formation documents to file an amendment. Doing this will formalize the changes. So, if the changes you want to adopt will affect the structure of the business, you have to file an amendment.
Generally, if your Oregon company decides to make changes to the items that you reported on the company’s Articles of Incorporation/Organization, you need to file an amendment with the state.
A. Changing The Company Name –
The Secretary of State has to be aware of the name that your company uses for its operations in Oregon. You have to report any changes in the company name. Submitting an amendment will let the state know about your plan. You also need to update the name of your company on all legal records.
If your corporation wants to operate under a new name, it has to follow the legal process. Filing an amendment will inform the Secretary of State of your plan to change the company name. Aside from this, you also need to make sure that all government records reflect the new name of your corporation.
B. Changing Members Of The Business –
Oregon requires LLCs to include information about their members and/or managers in the Articles of Organization. So, you have to file an amendment even if there are changes related to the members or managers. These may include their names, addresses, and contact information. Amendment of information regarding members and/or managers is free. You may also choose to update these pieces of information when you file the Annual Report.
The same rule applies to corporations. Since you have to include information about the officers and directors of your company in the Articles of Incorporation, you have to file an amendment. However, if the only amendment is a change of President or Secretary, the filing is free.
C. Changing Address Related To The Business –
The Secretary of State has to know how to reach your Oregon LLC. You have to report any changes to the contact information of your company. You can include this update if you file for other types of amendments. However, if the address is the only change you want to report, you can just use the Change of Business Mailing Address form.
On the other hand, Oregon corporations can include the update if you file for other types of amendment. However, you do not have to use the amendment form to inform the state about the change in your business address. Your corporation can just file a Change of Business Mailing Address form. The filing of this form is free.
D. Changing Contact Information –
The Secretary of State has to have a way to reach your LLC. You have to inform them of any changes in your company’s contact information. You can put the phone number of the contact person on the amendment form.
Oregon corporations also need to report changes to their contact information. This way, you can be sure that all legal queries reach your company. The amendment form includes a section where you can put the phone number of your corporation’s contact person.
E. Changing The Number Of Shares That A Corporation Is Authorized To Issue – Oregon does not authorize LLCs to issue stock. So, these business entities do not have to worry about this amendment. As for corporations, if your company wants to change the number of shares that it is authorized to sell, you have to inform the state about it by filing an amendment.