Section 130.750 – Trustee’s duty to comply with prudent investor rule.
(1) Except as otherwise provided in subsection (2) of this section, a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule set forth in ORS 130.755. (2) The prudent investor rule is a default rule that may be expanded, restricted, eliminated […]
Section 130.755 – Prudent investor rule.
(1) A trustee shall invest and manage trust assets as a prudent investor would, by considering the purposes, terms, distribution requirements and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill and caution. (2) A trustee’s investment and management decisions respecting individual assets are not evaluated in isolation, […]
Section 130.760 – Diversification of trust investments.
A trustee shall diversify the investments of the trust unless the trustee reasonably determines that, because of special circumstances, the purposes of the trust are better served without diversifying. [2005 c.348 §79]
Section 130.765 – Trustee duty.
Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets in order to bring the trust portfolio into compliance with the requirements of ORS 130.750 to 130.775 and with the purposes, terms, distribution requirements […]
Section 130.770 – Determination of compliance with prudent investor rule.
Compliance with the prudent investor rule is determined in light of the facts and circumstances existing at the time of a trustee’s decision or action and not by hindsight. [2005 c.348 §81]
Section 130.775 – Trust language authorizing investments permitted under prudent investor rule.
Unless otherwise limited or modified, the following terms or comparable language in the provisions of a trust authorize any investment or strategy permitted under ORS 130.750 to 130.775: “investments permissible by law for investment of trust funds,” “legal investments,” “authorized investments,” “using the judgment and care under the circumstances then prevailing that persons of prudence, […]
Section 130.705 – UTC 812. Collecting trust property.
A trustee shall take reasonable steps to compel a former trustee or other person to deliver trust property to the trustee, and to remedy a breach of trust known to the trustee to have been committed by a former trustee. [2005 c.348 §70]
Section 130.710 – UTC 813. Duty to inform and report.
(1) A trustee shall keep the qualified beneficiaries of the trust reasonably informed about the administration of the trust and of the material facts necessary for those beneficiaries to protect their interests. If reasonable under the circumstances, a trustee may respond to a request for information related to the administration of the trust from a […]
Section 130.715 – UTC 814. Discretionary powers; tax savings; inclusion of capital gains in income.
(1) A trustee shall exercise a discretionary power in good faith and in a manner that is in accordance with the terms and purposes of the trust and the interests of the beneficiaries. The duty imposed by this subsection is not affected by the grant of discretion in the terms of the trust, even though […]
Section 130.720 – UTC 815. General powers of trustee.
(1) A trustee, without authorization by the court, may exercise powers conferred by the terms of the trust and, except as limited by the terms of the trust: (a) All powers over the trust property that an unmarried financially capable owner has over individually owned property; (b) Any other powers appropriate to achieve the proper […]