{"data":{"id":"us-or/ors-63.165","jurisdiction":"us-or","citation":"ORS 63.165","heading":"Liability of members and managers.","body":"(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.\n      (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.","path":["02 - Business Organizations, Commercial Code","7. Corporations and Partnerships","Chapter 63 — Limited Liability Companies"],"source_url":"https://www.oregonlegislature.gov/bills_laws/ors/ors063.html","current_through":"2025 Edition","vintage":"","retrieved_at":"2026-09-03T23:50:10Z","sha256":"33cab7b4259b8289cba76609d8cf331696468cb02a064f87a22b25e3bdba053c","source_id":"us-or","stale":false,"prev":"us-or/ors-63.160","next":"us-or/ors-63.170"},"notice":"GroundRules: Original legal text. Not legal advice."}