Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Senate committee hears proposal to modernize Oregon LLC law
Summary
The Senate Committee on Judiciary heard testimony on Senate Bill 164, which would replace Oregon's 1993 LLC statute with a tailored version of the Uniform Law Commission's modern LLC Act to clarify default rules and add tools for transactions among LLCs.
Chair Senator Floyd Prozanski opened a public hearing on Senate Bill 164, which would modernize Oregon law governing limited liability companies by adopting a tailored version of the Uniform Law Commission—s Limited Liability Company Act.
The bill—s sponsors and the Oregon Law Commission emphasized that SB 164 preserves key components of Oregon—s existing LLC statutes while reorganizing and modernizing language. "Oregon adopted the current limited liability company act back in 1993," said Valerie Sasaki, vice chair of the work group and chair of the Oregon Law Commission, who described a multi-year, cross‑stakeholder effort. "This measure generally follows the Uniform Law Commission's acts LLC act structure while preserving key components and language of…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
