Uniform Trust Code

  1. Law
  2. Oregon Revised Statutes
  3. Landlord-Tenant, Domestic Relations, Probate
  4. Uniform Trust Code

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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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Section
130.735

Appointment of adviser; liability of trustee.

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.

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.

Section
130.900

Uniformity of application and construction.

Section
130.905

UTC 1102. Electronic records and signatures.

Section
130.910

UTC 1106. Application.