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Richard, Attorney
Category: Business Law
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Experience:  32 years of experience practicing law and a businessman.
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I am creating an Oregon LLC. When I was filling in all the

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I am creating an Oregon LLC. When I was filling in all the details, I cam upon the following clause in the LLC formation form.
" The company elects to indemnify its members, managers, employees, agents for liability and related expenses under ORS 63.160"

Should I select yes to this clause? It seems to me to make sense that I should limit liability of members using this clause, since that is what I am forming the LLC for.

It is also asking me to add other "optional provisions" if I want to. Should I be adding anything here or is just selecting yes to the provision above is enough? What is typically added in custom provisions that I need to worry about?

Last time I created an LLC, the form did not have anything like this, so this is very new to me.
Submitted: 5 years ago.
Category: Business Law
Expert:  Richard replied 5 years ago.

Good afternoon. yes, you do want to check "yes" on this. You don't want to add anything here because the less that is on public file the better. :)



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