Oregon § 130.850 UTC 1011. Interest as general partner

Oregon Statutes

§ 130.850 — UTC 1011. Interest as general partner

Oregon § 130.850

Vol.3

Title 13Protective Proceedings; Powers of Attorney; Trusts

Ch. 130Uniform Trust Code

This text of Oregon § 130.850 (UTC 1011. Interest as general partner) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 130.850 (2026).

Text

(1)Except as otherwise provided in subsection (3) of this section or unless personal liability is imposed in the contract, a trustee who holds an interest as a general partner in a general or limited partnership is not personally liable on a contract entered into by the partnership after the trust’s acquisition of the interest if the trustee’s fiduciary capacity is disclosed.

(2)Except as otherwise provided in subsection (3) of this section, a trustee who holds an interest as a general partner is not personally liable for torts committed by the partnership or for obligations arising from ownership or control of the interest unless the trustee is personally at fault.

(3)The immunity provided by this section does not apply if an interest in a partnership is held by the trustee in a capaci

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(1) Except as otherwise provided in subsection (3) of this section or unless personal liability is imposed in the contract, a trustee who holds an interest as a general partner in a general or limited partnership is not personally liable on a contract entered into by the partnership after the trust’s acquisition of the interest if the trustee’s fiduciary capacity is disclosed.
(2) Except as otherwise provided in subsection (3) of this section, a trustee who holds an interest as a general partner is not personally liable for torts committed by the partnership or for obligations arising from ownership or control of the interest unless the trustee is personally at fault.
(3) The immunity provided by this section does not apply if an interest in a partnership is held by the trustee in a capacity other than that of trustee.
(4) If the trustee of a revocable trust holds an interest as a general partner, the settlor is personally liable for contracts and other obligations of the partnership to the same extent that the settlor would be liable if the settlor were a general partner.