2021 Oregon Revised Statutes
Volume : 03 - Landlord-Tenant, Domestic Relations, Probate
Chapter 130 - Uniform Trust Code

GENERAL PROVISIONS AND DEFINITIONS

• Section 130.001 - UTC 101. Short title.
• Section 130.005 - UTC 102. Scope.
• Section 130.010 - UTC 103. Definitions.
• Section 130.015 - UTC 104. Knowledge.
• Section 130.020 - UTC 105. Default and mandatory rules.
• Section 130.022 - UTC 108. Principal place of administration.
• Section 130.025 - UTC 106. Common law of trusts; principles of equity.
• Section 130.030 - UTC 107. Governing law.
• Section 130.035 - UTC 109. Methods of giving notice; waiver of notice.
• Section 130.040 - UTC 110. Other persons treated as qualified beneficiaries.
• Section 130.045 - UTC 111. Nonjudicial settlement agreements.

JUDICIAL PROCEEDINGS

• Section 130.050 - UTC 201. Role of court in administration of trust.
• Section 130.055 - UTC 202. Jurisdiction over trustee and beneficiary.
• Section 130.060 - UTC 203. Subject-matter jurisdiction.
• Section 130.065 - UTC 204. Venue.

REPRESENTATION

• Section 130.100 - UTC 301. Representation; basic effect.
• Section 130.105 - UTC 302. Representation by holder of testamentary power of appointment.
• Section 130.110 - UTC 303. Representation by fiduciaries and parents.
• Section 130.115 - UTC 304. Representation by person having substantially identical interest.
• Section 130.120 - UTC 305. Appointment of special representative.

CREATION, VALIDITY, MODIFICATION AND TERMINATION OF TRUST

• Section 130.150 - UTC 401. Methods of creating trust.
• Section 130.155 - UTC 402. Requirements for creation.
• Section 130.160 - UTC 403. Trusts created in other states, countries or jurisdictions.
• Section 130.165 - UTC 404. Trust purposes.
• Section 130.170 - UTC 405. Charitable trusts; enforcement.
• Section 130.175 - UTC 406. Creation of trust induced by fraud, duress or undue influence.
• Section 130.180 - UTC 407. Evidence of oral trust.
• Section 130.185 - UTC 408. Pet trust.
• Section 130.190 - UTC 409. Noncharitable trust without ascertainable beneficiary.
• Section 130.193 - Stewardship trust.
• Section 130.195 - UTC 410. Modification or termination of trust; proceedings for approval or disapproval.
• Section 130.200 - UTC 411. Modification or termination of irrevocable trust by consent.
• Section 130.205 - UTC 412. Modifications or termination because of unanticipated circumstances or inability to administer trust effectively.
• Section 130.210 - UTC 413. Cy pres.
• Section 130.215 - UTC 414. Modification or termination of uneconomic trust.
• Section 130.220 - UTC 415. Reformation to correct mistakes.
• Section 130.225 - UTC 416. Modification to achieve settlor’s tax objectives.
• Section 130.230 - UTC 417.
• Section 130.232 - Division of trust into separate shares or portions; legal effect.
• Section 130.235 - In terrorem clause.
• Section 130.237 - Abatement due to insufficiency of trust property.
• Section 130.240 - Marital deduction gifts.

CREDITOR’S CLAIMS; SPENDTHRIFT AND DISCRETIONARY TRUSTS

• Section 130.300 - UTC 501. Rights of beneficiary’s creditor or assignee.
• Section 130.305 - UTC 502. Spendthrift provision.
• Section 130.310 - UTC 503. Exceptions to spendthrift provisions.
• Section 130.315 - UTC 505. Creditor’s claim against settlor.
• Section 130.320 - UTC 506. Overdue distribution.
• Section 130.325 - UTC 507. Personal obligations of trustee.

CLAIMS AGAINST TRUST BASED ON DEBTS OF SETTLOR

• Section 130.350 - Statute of limitations.
• Section 130.355 - Commencement of proceeding.
• Section 130.360 - Limitation on presentation of claims when notice to claimants given.
• Section 130.365 - Publication of notice.
• Section 130.370 - Notice to individual claimants.
• Section 130.375 - Form of claim; evidence in support.
• Section 130.380 - Claim based on debt due or judgment.
• Section 130.385 - Claim on debts not yet due.
• Section 130.390 - Claim on secured debt that is due.
• Section 130.395 - Claim on contingent or unliquidated debt.
• Section 130.400 - Allowance and disallowance of claims.
• Section 130.405 - Creditor may obtain order for payment.
• Section 130.410 - Evidence required to allow court approval of claim disallowed by trustee.
• Section 130.415 - Waiver of statute of limitations.
• Section 130.420 - Tolling of statute of limitations on claim.
• Section 130.425 - Priority of claims.
• Section 130.430 - Applicability of time limitations to public bodies.
• Section 130.435 - Applicability of time limitations to certain claims based on liens against property and liability of settlor or trustee.
• Section 130.440 - Petition to close case.
• Section 130.445 - Dismissal for want of prosecution.
• Section 130.450 - Consolidation of proceedings.

REVOCABLE TRUSTS

• Section 130.500 - UTC 601. Revocable trusts generally.
• Section 130.505 - UTC 602. Revocation or amendment of revocable trust.
• Section 130.510 - UTC 603. Settlor’s powers; powers of withdrawal.
• Section 130.515 - UTC 604. Limitation on action contesting validity of revocable trust; distribution of trust property.

RULES GOVERNING REVOCABLE TRUSTS

• Section 130.518 - Creditor protections retained upon conveyance of property held as tenants by the entirety to revocable trust.
• Section 130.520 - "Specific distribution" defined for ORS 130.520 to 130.575.
• Section 130.525 - Applicability of ORS 130.530, 130.535 and 130.540 to 130.575.
• Section 130.530 - Effect of marriage.
• Section 130.535 - Revocation by divorce or annulment.
• Section 130.540 - Contract of sale of property not revocation.
• Section 130.545 - Encumbrance or disposition of property after trust instrument executed.
• Section 130.550 - When trust assets pass to descendants of beneficiary; class gifts.
• Section 130.555 - Children of settlors; pretermitted children.
• Section 130.560 - Failure of specific distribution.
• Section 130.565 - Effect of failure of specific distribution.
• Section 130.570 - Advancement against share of trust.
• Section 130.575 - Effect of advancement on distribution.

OFFICE OF TRUSTEE

• Section 130.600 - UTC 701. Acceptance or rejection of trusteeship.
• Section 130.605 - UTC 702. Trustee’s bond.
• Section 130.610 - UTC 703. Cotrustees.
• Section 130.615 - UTC 704. Vacancy in trusteeship; appointment of successor.
• Section 130.620 - UTC 705. Resignation of trustee.
• Section 130.625 - UTC 706. Removal of trustee.
• Section 130.630 - UTC 707. Delivery of property by former trustee; report.
• Section 130.635 - UTC 708. Compensation of trustee.
• Section 130.640 - UTC 709. Reimbursement of expenses.

DUTIES AND POWERS OF TRUSTEE

• Section 130.650 - UTC 801. Duty to administer trust.
• Section 130.655 - UTC 802. Duty of loyalty.
• Section 130.660 - UTC 803. Impartiality.
• Section 130.665 - UTC 804. Prudent administration.
• Section 130.670 - UTC 805. Costs of administration.
• Section 130.675 - UTC 806. Trustee’s skills.
• Section 130.680 - UTC 807. Delegation by trustee.
• Section 130.685 - UTC 808. Powers to direct.
• Section 130.690 - UTC 809. Control and protection of trust property.
• Section 130.695 - UTC 810. Recordkeeping and identification of trust property.
• Section 130.700 - UTC 811. Enforcement and defense of claims.
• Section 130.705 - UTC 812. Collecting trust property.
• Section 130.710 - UTC 813. Duty to inform and report.
• Section 130.715 - UTC 814. Discretionary powers; tax savings; inclusion of capital gains in income.
• Section 130.720 - UTC 815. General powers of trustee.
• Section 130.725 - UTC 816. Specific powers of trustee.
• Section 130.730 - UTC 817. When interest of beneficiary vests; distribution upon termination.
• Section 130.733 - Notice of proposed trustee action to beneficiaries; right of beneficiary to object.

ADVISERS

• Section 130.735 - Appointment of adviser; liability of trustee.

UNIFORM PRUDENT INVESTOR ACT

• Section 130.750 - Trustee’s duty to comply with prudent investor rule.
• Section 130.755 - Prudent investor rule.
• Section 130.760 - Diversification of trust investments.
• Section 130.765 - Trustee duty.
• Section 130.770 - Determination of compliance with prudent investor rule.
• Section 130.775 - Trust language authorizing investments permitted under prudent investor rule.

LIABILITY OF TRUSTEE AND RIGHTS OF PERSONS DEALING WITH TRUSTEE

• Section 130.800 - UTC 1001. Remedies for breach of trust.
• Section 130.805 - UTC 1002. Damages for breach of trust.
• Section 130.810 - UTC 1003. Damages in absence of breach.
• Section 130.815 - UTC 1004. Attorney fees and costs.
• Section 130.820 - UTC 1005. Limitation of action against trustee.
• Section 130.825 - UTC 1006. Reliance on trust instrument.
• Section 130.830 - UTC 1007. Event affecting administration or distribution.
• Section 130.835 - UTC 1008. Exculpation of trustee.
• Section 130.840 - UTC 1009. Beneficiary’s consent, release or ratification.
• Section 130.845 - UTC 1010. Limitation on personal liability of trustee.
• Section 130.850 - UTC 1011. Interest as general partner.
• Section 130.855 - UTC 1012. Protection of person dealing with trustee.
• Section 130.860 - UTC 1013. Certification of trust.

MISCELLANEOUS PROVISIONS

• Section 130.900 - Uniformity of application and construction.
• Section 130.905 - UTC 1102. Electronic records and signatures.
• Section 130.910 - UTC 1106. Application.