- (1) The Secretary of State, assisted by the Office of Economic Analysis, Department of Administrative Services, has calculated the inflation factor affecting joint and several liability caps of Professional Corporations to be 1.769924554, following the formula prescribed in ORS 58.187.
- (2) Therefore, joint and several liability claims under ORS 58.185(5) & (8) made against a single shareholder shall not exceed $550,000.
- (3) The total joint and several liability for a single claim made against one or more licensed Oregon shareholders under ORS 58.185 (5) and (8) shall not exceed $3,550,000.
- (4) As required by ORS 58.187(1), the Corporation Division hereby adopts said figures.
Statutory/Other Authority
ORS 58.187
Statutes/Other Implemented
ORS 58.187
History
CORP 2-2017, amend filed 12/26/2017, effective 01/01/2018
CORP 1-2012, f. & cert. ef. 3-1-12
CORP 1-2006, f. & cert. ef. 2-1-06
CORP 1-2000, f. & cert. ef. 2-1-00