ORS 65.157: Creditor’s action against member.
Edition: 2025 EditionEffective: 2026-01-01Last verified: 2026-09-07
(1) No proceeding may be brought by a creditor to reach the liability, if any, of a member to the corporation arising from membership unless final judgment has been rendered in favor of the creditor against the corporation and execution has been returned unsatisfied in whole or in part or unless obtaining such judgment and execution would be useless. (2) All creditors of the corporation, with or without reducing their claims to judgment, may intervene in any creditor’s proceeding brought under subsection (1) of this section to reach and apply unpaid amounts due the corporation. Any or all members who owe amounts to the corporation arising from membership may be joined in such proceeding. [1989 c.1010 §46] (Resignation and Termination)
This rule cites
No citations extracted.
Cited by
Official source: https://www.oregonlegislature.gov/bills_laws/ors/ors065.html