There is a newer version of the Oregon Revised Statutes
2021
2019
2017
2015
2013
Other previous versions
View our newest version here

2011 Oregon Revised Statutes
ORS Volume 16, Chapters 705 - 752
ORS Chapter 732
732.240 Trusts of life insurance proceeds.


OR Rev Stat § 732.240 (through Leg Sess 2011) What's This?

(1) Any domestic insurer may hold in trust the proceeds of any life insurance policy issued by it. Such a trust shall be upon such terms and subject to such limitations as to revocation by the policyholder and control by the beneficiary thereunder as are agreed to in writing by the insurer and the policyholder.

(2) Trust provisions authorized by this section shall in no manner subject the insurer to any of the provisions of the laws of this state relating to banks or trust companies.

(3) The forms of such trust agreements shall be first submitted to and approved by the Director of the Department of Consumer and Business Services. [Formerly 739.410]

Disclaimer: These codes may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.