Or. Rev. Stat. § 63.165
Liability of members and managers
Oregon · Oregon Revised Statutes Chapter 63 — Limited Liability Companies · Status: effective
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- Citation
- Or. Rev. Stat. § 63.165, Liability of members and managers, Oregon, version 1 as recorded 2026-10-04, yourstate.us, https://yourstate.us/provision/2453483
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Full text
(1) The debts, obligations and liabilities of a limited liability company, whether arising in contract, tort or otherwise, are solely the debts, obligations and liabilities of the limited liability company. A member or manager is not personally liable for a debt, obligation or liability of the limited liability company solely by reason of being or acting as a member or manager.
(2) The failure of a limited liability company to observe the usual limited liability company formalities or requirements relating to the exercise of its limited liability company powers or management of its business is not a ground for imposing personal liability on the members or managers for liabilities of the limited liability company.