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2017 Oregon Revised Statutes
Volume : 03 - Landlord-Tenant, Domestic Relations, Probate
Chapter 130 - Uniform Trust Code
Section 130.835 - UTC 1008. Exculpation of trustee.
Universal Citation: OR Rev Stat § 130.835 (2017)
(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) Was inserted as the result of an abuse by the trustee of a fiduciary or confidential relationship to the settlor.
(2) An exculpatory term drafted or caused to be drafted by the trustee is invalid as an abuse of a fiduciary or confidential relationship unless:
(a) The settlor is represented by an independent counsel who reviewed the term; or
(b) The trustee proves that the exculpatory term is fair under the circumstances and that the term’s existence and contents were adequately communicated to the settlor. [2005 c.348 §90]
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