Oregon Code § 554.570·Enacted ·Last updated March 01, 2026
Statute Text
Effect
of exclusion on existing debts.
(1) An amendment to exclude land shall not relieve any land from any lien
existing at the time of the exclusion of the land, affect the date of priority
of any lien of the corporation upon any land or relieve any landowner from any
obligation to pay any valid outstanding bonds or indebtedness of the
corporation; but the land shall continue to be subject to the lien and
chargeable with all obligations outstanding at the time of the exclusion. For
the purpose of enforcing any lien for such obligations, lands excluded shall be
considered part of the corporation as if the exclusion had never been
accomplished.
(2) Lands
excluded shall not be chargeable with a lien for any obligation incurred after
the date of filing the articles of amendment with the Secretary of State,
providing for the exclusion of such lands. [1963 c.103 §8]
Plain English Explanation
This Oregon statute addresses Effect
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 554.570
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
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