2017 ORS 128.585¹
Personal liability of trustees, shareholders or beneficiaries of business trust

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. [1971 c.491 §6; 1973 c.367 §14]

Notes of Decisions

Where business trust has not complied with filing require­ments of ORS 128.575 (Filing with Office of Secretary of State required), trustees do not qualify for immunity from liability for trust obliga­tions under this sec­tion. Hausam v. Ticor Title Ins. Co., 99 Or App 533, 783 P2d 39 (1989)

1 Legislative Counsel Committee, CHAPTER 128—Trusts; Charitable Activities, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors128.­html (2017) (last ac­cessed Mar. 30, 2018).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2017, Chapter 128, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano128.­html (2017) (last ac­cessed Mar. 30, 2018).
 
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.