(1) A notary public who is a shareholder, director, officer, employee, member or partner of a business entity may: (a) Take the acknowledgment of any party to any written instrument executed to or by the business entity; or (b) Administer an oath to any other shareholder, director, officer, employee, member or partner of the business entity or to any agent of the business entity. (2) A notary public may not take the acknowledgment of an instrument executed to or by a business entity of which the notary public is a shareholder, director, officer, employee, member or partner, if the notary public is a party to the instrument, either individually or as a representative of the business entity. (3) As used in this section: (a) Business entity means a financial institution, trust company, corporation, professional corporation, cooperative, limited liability company, nonprofit corporation, partnership, limited liability partnership or limited partnership. (b) Financial institution has the meaning given that term in ORS 706.008. (c) Trust company has the meaning given that term in ORS 706.008.
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