Section 130.850 – UTC 1011. Interest as general partner.
(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 […]
Section 130.855 – UTC 1012. Protection of person dealing with trustee.
(1) A person other than a beneficiary who in good faith assists a trustee, or who in good faith and for value deals with a trustee, is not liable for acts of the trustee that exceed the trustee’s powers or for the improper exercise of the trustee’s powers, unless the person knows that the trustee […]
Section 130.860 – UTC 1013. Certification of trust.
(1) A person who is not a beneficiary and who proposes to deal with the trustee of a trust may require that all trustees execute and furnish to the person a certification of trust. (2) The certification of trust shall contain the following information: (a) That the trust exists and the date the trust instrument […]
Section 130.900 – Uniformity of application and construction.
In applying and construing ORS chapter 130, consideration must be given to the need to promote uniformity of the law with respect to trusts among states that enact the Uniform Trust Code. [2005 c.348 §96] Note: 130.900 to 130.910 were enacted into law by the Legislative Assembly but were not added to or made a […]
Section 130.905 – UTC 1102. Electronic records and signatures.
The legal effect, validity or enforceability of electronic records or electronic signatures under ORS chapter 130, and of contracts formed or performed with the use of such records or signatures, are governed by ORS 84.001 to 84.061. [2005 c.348 §97] Note: See note under 130.900.
Section 130.910 – UTC 1106. Application.
(1) Except as otherwise provided in ORS chapter 130: (a) ORS chapter 130 applies to all trusts created before, on or after January 1, 2006. (b) ORS chapter 130 does not apply to judicial, administrative and other proceedings concerning trusts commenced before January 1, 2006. (c) Any rule of construction or presumption provided in ORS […]
Section 130.820 – UTC 1005. Limitation of action against trustee.
(1) Notwithstanding ORS chapter 12 or any other provision of law, but subject to subsection (2) of this section, a civil action against a trustee based on any act or omission of the trustee, whether based in tort, contract or other theory of recovery, must be commenced within six years after the date the act […]
Section 130.825 – UTC 1006. Reliance on trust instrument.
A trustee who acts in reasonable reliance on the terms of the trust as expressed in the trust instrument is not liable to a beneficiary for a breach of trust to the extent the breach resulted from the reliance. [2005 c.348 §88]
Section 130.830 – UTC 1007. Event affecting administration or distribution.
A trustee is not liable for failing to determine whether a marriage, a divorce, a death, the performance of educational requirements or another event affecting the administration or distribution of a trust has occurred if the trustee has exercised reasonable care in attempting to determine whether the event has occurred. [2005 c.348 §89]
Section 130.835 – UTC 1008. Exculpation of trustee.
(1) A term of a trust relieving a trustee of liability for breach of trust is unenforceable to the extent that the term: (a) Relieves the trustee of liability for breach of trust committed in bad faith or with reckless indifference to the purposes of the trust or the interests of the beneficiaries; or (b) […]