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 130.850 – 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 130.800 – UTC 1001. Remedies for breach of trust.
(1) A violation by a trustee of a duty the trustee owes to a beneficiary is a breach of trust. A breach of trust may occur by reason of an action or by reason of a failure to act. (2) To remedy a breach of trust that has occurred or to prevent a breach of […]
Section 130.805 – UTC 1002. Damages for breach of trust.
(1) A trustee who commits a breach of trust is liable to the beneficiaries affected for the greatest of: (a) The amount of damages caused by the breach; (b) The amount required to restore the value of the trust property and trust distributions to what they would have been had the breach not occurred; or […]
Section 130.810 – UTC 1003. Damages in absence of breach.
(1) Except as provided by ORS 130.725 (4) and (15) or 709.175 or other law of this state, a trustee is accountable to an affected beneficiary for any profit made by the trustee arising from the administration of the trust, without regard to whether the profit resulted from a breach of trust. (2) Unless there […]
Section 130.815 – UTC 1004. Attorney fees and costs.
In a judicial proceeding involving the validity or administration of a trust, the court may award costs and expenses and reasonable attorney’s fees to any party, to be paid by another party or from the trust. [2005 c.348 §86]