2011 Oregon Revised Statutes
ORS Volume 2, Chapters 56 - 89
ORS Chapter 63
63.255 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 assignee s 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 assignor s 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]
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