Associates with IL31RA to form the IL31 receptor. Binds IL31 and activates STAT1, STAT3 and STAT5. Capable of transducing OSM-specific signaling events (By similarity). The OSM/OSM-R system is pivotal in the differentiation of oval cells into hepatocytes, thereby promoting liver regeneration. Heterodimer composed of OSMR and IL6ST (type II OSM receptor). Heterodimer with IL31RA to form the IL31 receptor (By similarity). Widely expressed. Expressed at high levels in the liver, skin and spleen. In the liver it is expressed exclusively in the oval cells. The WSXWS motif appears to be necessary for proper protein folding and thereby efficient intracellular transport and cell-surface receptor binding. The box 1 motif is required for JAK interaction and/or activation. Belongs to the type I cytokine receptor family. Type 2 subfamily.