Oregon Secretary of State, Corporation Division

Rule Rule 160-010-0400
Professional Corporation Limit on Joint and Several Liability


(1)

The Secretary of State, assisted by the Office of Economic Analysis, Department of Administrative Services, has calculated the inflation factor affecting joint and several liability caps of Professional Corporations to be 1.769924554, following the formula prescribed in ORS 58.187 (Revision of limitations on liability in ORS 58.185 to reflect inflation or deflation).

(2)

Therefore, joint and several liability claims under ORS 58.185 (Liabilities of employees, shareholders and the corporation)(5) & (8) made against a single shareholder shall not exceed $550,000.

(3)

The total joint and several liability for a single claim made against one or more licensed Oregon shareholders under ORS 58.185 (Liabilities of employees, shareholders and the corporation) (5) and (8) shall not exceed $3,550,000.

(4)

As required by ORS 58.187 (Revision of limitations on liability in ORS 58.185 to reflect inflation or deflation)(1), the Corporation Division hereby adopts said figures.
Source

Last accessed
Jun. 8, 2021