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 130.845 – UTC 1010. Limitation on personal liability of trustee.
(1) Except as otherwise provided in the contract, a trustee is not personally liable on a contract properly entered into in the trustee’s fiduciary capacity in the course of administering the trust if the trustee disclosed the trustee’s fiduciary capacity in the contract. (2) A trustee is personally liable for torts committed in the course […]
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]
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]