Limited Liability Companies

ORS 63.165
Liability of members and managers


(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. [1993 c.173 §35; 1999 c.86 §10]

Notes of Decisions

Where limited liability company was administratively dissolved and one member entered into loan transaction after dissolution and transaction was not related to winding up and liquidating LLC, other member of LLC, who did not have actual knowledge of LLC dissolution, is not personally liable for debt incurred as result of transaction. Wohrman v. Rogers, 274 Or App 846, 362 P3d 704 (2015)

Where member-manager of limited liability company delegated to human resources director of limited liability company that employed plaintiff who was injured while at work responsibility to carry out safety program designed by member-manager, member-manager is not protected from liability for negligent acts in managing limited liability company that contributed to injury. Member-manager may be held personally liable for actions taken on behalf of limited liability company to same extent as if member-manager were acting in individual capacity. Cortez v. Nacco Material Handling Group, 356 Or 254, 337 P3d 111 (2014)

Law Review Citations

73 OLR 5 (1994)

Chapter 63

Law Review Citations

30 WLR 291 (1994); 73 OLR 5, 25, 43, 133, 151 (1994)


Source

Last accessed
Jun. 26, 2021