Known as the Oregon Business Corporation Act
The act spans §§ 60–60 (245 sections).
Applied in 8 court decisions — leading case 191 Or. App. 408 - Oregon Public Employees' Retirement Board v. Simat, Helliesen & Eichner (2004)
Most recently applied in Adelsperger v. Elkside Development LLC (May 2023)
1987 c.52 §39
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
(1) A purchaser from a corporation of its own shares is not liable to the corporation or its creditors with respect to the shares except to pay the consideration for which the shares were authorized to be issued or specified in the subscription agreement.
(2) A shareholder of a corporation is not personally liable for the acts or debts of the corporation merely by reason of being a shareholder.
Official source: Oregon State Legislature. Reproduced from public-domain Oregon statutes; confirm against the official source for the current text. Not legal advice.