Oregon Revised Statutes Chapter 63 § 63.255 — Rights
Oregon Revised Statutes Chapter 63 ·
Oregon Code § 63.255·Enacted ·Last updated March 01, 2026
Statute Text
Rights
of assignee who becomes member.
(1) An assignee who becomes a member as to the assigned interest has the rights
and powers, and is subject to the restrictions and liabilities, of a member
under this chapter, the articles of organization and any operating agreement.
An assignee who becomes a member also is liable for any obligations of the
assignees assignor to make contributions under ORS 63.180. However, the
assignee is not obligated merely by becoming a member for any other liabilities
for which the assignor was liable that were unknown to the assignee at the time
the assignee became a member and that could not be ascertained from the
articles of organization.
(2) Whether or
not an assignee of a membership interest becomes a member, the assignor is not
released from the assignors liability to the limited liability company to make
contributions under ORS 63.180. [1993 c.173 §51; 1995 c.93 §14; 1997 c.646 §6]
Plain English Explanation
This Oregon statute addresses Rights
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 63.255
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Rights
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