What is a certificate of Organization do for your business in Oregon?
A Certificate of Organization is a document issued by the Secretary of State’s office that provides proof of a corporation’s existence. A COF is not a license; however, it does provide legal recognition for a company. In order to obtain a COF, a person or entity must file Articles of Incorporation with the Secretary of State. Once filed, the articles become public records. Anyone who wants to verify whether a company exists may request a copy of the articles from the Secretary of State. If no articles have been filed, then the company cannot exist legally.
The purpose of filing articles of incorporation is to protect shareholders and creditors. Shareholders are protected because they receive notice of the company’s creation and its status as a legal entity. Creditors know that if someone owes money to the company, the company can sue them in court to collect.
In addition to protecting shareholders and creditors, filing articles of incorporation gives the company a name and address. The company cannot open bank accounts or conduct any transactions without a name. An address helps customers find the company online.
Once a COF is obtained, the company can begin doing business. However, before opening a business account at a financial institution, the company should check to make sure it has a valid COF. The company cannot open a checking account if it does not have a COF.
If a company wishes to operate under a different name than what was originally filed, it must amend the original articles of incorporation. The company must submit a written application to the Secretary of State to amend the articles. The application includes the proposed amendments along with supporting documents. After reviewing the application, the Secretary of State issues a letter stating whether the amendment is approved.
An amended COF is effective immediately upon issuance. Any changes to the company’s name or address require a separate application.
The procedures for filing a certificate of organization in the state of Oregon
1. Filing a Certificate of Organization (CO)
A CO is filed with the Secretary of State’s office in each county where a corporation is formed. A CO is not a license; rather, it serves as proof that a business entity was legally organized under the laws of the state of Oregon. In order to file a CO, the following information must be provided:
• Name of the corporation
• Address of the registered agent
• Date of formation
• Number of shares issued
• Purpose of the corporation
• Names of directors
• Registered agent
• Shareholders’ names
• Articles of incorporation
• Seal of the corporation
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How much does it cost to file a certificate of organization in Oregon?
The filing fee for a Certificate of Organization (CO) is $50.00. If paying by mail, please make checks payable to ORDOT. Mail payments to:
Oregon Department of Transportation
Attn: Business License Division
PO Box 64400
Salem, OR 97301-6400
Payments should be mailed to us no later than 30 days after the date of application. We do not accept cash or personal checks.
If you have any questions about how to apply for a business license, please contact our office at 503-378-4540.
What are the benefits of having a certificate of organization filed in Oregon for your business?
1. A Certificate of Organization Filed in Oregon provides proof of legal existence for any type of business entity. If you have already registered your company name, then you do not need to file a Certificate of Organization. However, if you want to register your company name, you should consider filing a Certificate of Organization. You may choose to file a Certificate of Incorporation instead of a Certificate of Organization.
2. A Certificate of Organization helps protect your personal assets. When you file a Certificate of Organization, you become personally liable for any debts incurred by your business. In addition, you cannot transfer ownership of your business without first transferring ownership of your personal assets.
3. A Certificate of Organization gives you access to government services. If you file a Certificate of Incorporated, you can apply for state licenses and permits. If you file a separate Certificate of Organization, you can only apply for state licenses and permit if you are incorporated.
4. A Certificate of Organization makes it easier to obtain financing. Financing companies require documentation showing that you have been legally established before they provide loans. Therefore, if you have a valid Certificate of Organization, you will receive faster approval rates than those who do not have a valid Certificate of Incorporated.
5. A Certificate of Organization prevents fraud. Fraudsters often use fake names to set up businesses. By registering your business under your own name, you prevent others from using your identity.
6. A Certificate of Organization increases your credibility. People are more likely to trust you if you have a valid document proving your legal status.
7. A Certificate of Organization shows your commitment to running a legitimate business. If you are planning to start a business, you should ensure a valid Certificate Of Organization.
8. A Certificate of Organization is helpful if you plan to sell your business. If you decide to sell your business, you should file a Certificate of Dissolution at least 30 days before selling your business. Otherwise, you risk losing control over your business’s assets.
9. A Certificate of Organization saves time and money. You do not need to apply for a Certificate of Organization if you already have a valid corporation name. Also, you do not need to pay fees to register your company name. Instead, you can simply file a Certificate of Incorporation.
10. A Certificate of Organization protects your reputation. If someone files a lawsuit against your business, you can prove that you were operating a legitimate business.
11. A Certificate of Organization ensures compliance with federal laws. Federal law requires that anyone conducting business in interstate commerce must have a valid Certificate of Registration.
12. A Certificate of Organization keeps your records organized. Your business records will be kept in order if you file a Certificate of Corporation.
13. A Certificate of Organization lets you keep track of your employees. If you hire employees, you can easily identify them by their social security numbers.
14. A Certificate of Organization allows you to open bank accounts. Banks require that you show proof of legal status before opening an account.
Who can serve as the registered agent for your LLC in Oregon
The answer to this question may depend upon whether you plan to file your business under the name of a person or a corporation. If you choose to register your company under the name of a natural person, then you should consider who might qualify as the registered agent for that entity. In general, any individual residing in Oregon who is at least 18 years old qualifies as a registered agent for a domestic LLC. However, if you want to register your LLC under the name of a corporation, then you need to find out who can serve as the registered agents for your LLC.
In order to determine who can serve as the corporate registered agent for your LLC, you first need to know what type of organization you have chosen to incorporate. There are two basic types of corporations: (1) Domestic Corporations; and (2) Foreign Corporations. A domestic corporation is formed under the laws of the state where its principal place of business is located. On the other hand, foreign corporations are incorporated outside of the United States.
If you decide to incorporate your business under the name a domestic corporation, then you need only look to the law governing the formation of domestic corporations. Under ORS chapter 60, a domestic corporation can be formed by filing articles of incorporation with the Secretary of State’s office. Once these documents are filed, the corporation becomes legally recognized under the laws of Oregon. As long as the corporation meets certain requirements, anyone over the age of 18 can serve as the registered representative for a domestic corporation.
However, suppose you elect to incorporate your business under a different set of rules, namely those governing foreign corporations. In that case, you will need to check with the Secretary of State’s office to determine who can act as the registered agent for a foreign corporation. To do this, you will need to contact the Secretary of State‘s office to obtain information regarding how to incorporate a foreign corporation. You will then need to follow the instructions provided by the Secretary of State‚Äôs office to complete the necessary paperwork. Once completed, you will then need to submit the papers to the Secretary of State‛Äôs office along with payment of the appropriate fees. After receiving approval from the Secretary of State you will then need take steps to make sure that the proper individuals become the registered agent for your newly created foreign corporation.
Frequently Asked Questions
Which Oregon office issues Certificates of Good Standing?
The Oregon secretary of state issues certificates of good standing. The SOS does not issue licenses, but rather certifies that businesses are complying with state regulations. In some states, like Washington, the SOS issues both types of documents.
In most cases, the SOS verifies whether a business complies with the law and registers it accordingly. If a business fails to comply with state laws, the SOS must revoke its registration.
Oregon’s SOS works closely with local county clerks across the state. They conduct inspections and verify that businesses are registered correctly. To register a business, you must submit a $20 application fee along with proof of legal presence. You must also pay fees based on how many employees your business has.
If you fail to file the required paperwork or do not provide sufficient documentation, the SOS cannot register your business.
Why Another Business Might Request a Certificate of Existence From You
Another reason why businesses might ask a potential customer to provide proof of good standing could be because it’s required by law. If your business is incorporated in Oregon, it needs to be authorized to conduct business in the state. To do this, it must obtain a certificate of existence from the secretary of state.
This process isn’t complicated, but it does take some work. First, the business entity files an application with the secretary of state, providing information about itself, including its name, address, and date of incorporation. Then, the business waits for a response. After the secretary of state approves the application, she sends the business a certificate of existence.
The certificate of existence doesn’t mean anything unless the business is actually in good standing. In fact, the business must already be authorized to conduct business within the state before it can apply for a certificate of existence. So, how do you know whether your business is actually in good shape? A simple way to check is to contact the secretary of state’s office and ask.
James Rourke is a business and legal writer. He has written extensively on subjects such as contract law, company law, and intellectual property. His work has been featured in publications such as The Times, The Guardian, and Forbes. When he’s not writing, James enjoys spending time with his family and playing golf.