Oregon Statutes 65.151 – Members liability to third parties
Current as of: 2023 | Check for updates
|
Other versions
A member of a corporation is not personally liable for the acts, debts, liabilities or obligations of the corporation merely by reason of being a member. [1989 c.1010 § 44]
Terms Used In Oregon Statutes 65.151
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means a domestic corporation or a foreign corporation. See Oregon Statutes 65.001
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Member: means a person that is entitled, under a domestic corporation's or foreign corporation's articles of incorporation or bylaws, to exercise any of the rights described in ORS § 65. See Oregon Statutes 65.001