The trustees, shareholders or beneficiaries of a business trust shall not, as such, be personally liable for any obligations of such business trust arising after June 25, 1971. Persons becoming trustees, shareholders or beneficiaries after June 25, 1971, shall not be personally liable, as such, for obligations of the business trust existing on June 25, 1971.
ORS 128.585
Applied in 1 court decision — leading case Hausam v. Ticor Title Insurance (1989)
Most recently applied in Hausam v. Ticor Title Insurance (December 1989)
1971 c.491 §6; 1973 c.367 §14
Official source: Oregon State Legislature. Reproduced from public-domain Oregon statutes; confirm against the official source for the current text. Not legal advice.