ORS Chapter 130
Chapter 130 — UniformTrust Code
2009 EDITION
UNIFORMTRUST CODE
PROTECTIVEPROCEEDINGS; POWERS OF ATTORNEY; TRUSTS
GENERALPROVISIONS AND DEFINITIONS
130.001 UTC101. Short title
130.005 UTC102. Scope
130.010 UTC103. Definitions
130.015 UTC104. Knowledge
130.020 UTC105. Default and mandatory rules
130.022 UTC108. Principal place of administration
130.025 UTC106. Common law of trusts; principles of equity
130.030 UTC107. Governing law
130.035 UTC109. Methods of giving notice; waiver of notice
130.040 UTC110. Other persons treated as qualified beneficiaries
130.045 UTC111. Nonjudicial settlement agreements
JUDICIALPROCEEDINGS
130.050 UTC201. Role of court in administration of trust
130.055 UTC202. Jurisdiction over trustee and beneficiary
130.060 UTC203. Subject-matter jurisdiction
130.065 UTC204. Venue
REPRESENTATION
130.100 UTC301. Representation; basic effect
130.105 UTC302. Representation by holder of testamentary power of appointment
130.110 UTC303. Representation by fiduciaries and parents
130.115 UTC304. Representation by person having substantially identical interest
130.120 UTC305. Appointment of special representative
CREATION,VALIDITY, MODIFICATION AND TERMINATION OF TRUST
130.150 UTC401. Methods of creating trust
130.155 UTC402. Requirements for creation
130.160 UTC403. Trusts created in other states, countries or jurisdictions
130.165 UTC404. Trust purposes
130.170 UTC405. Charitable purposes; enforcement
130.175 UTC406. Creation of trust induced by fraud, duress or undue influence
130.180 UTC407. Evidence of oral trust
130.185 UTC408. Pet trust
130.190 UTC409. Noncharitable trust without ascertainable beneficiary
130.195 UTC410. Modification or termination of trust; proceedings for approval ordisapproval
130.200 UTC411. Modification or termination of irrevocable trust by consent
130.205 UTC412. Modifications or termination because of unanticipated circumstances orinability to administer trust effectively
130.210 UTC413. Cy pres
130.215 UTC414. Modification or termination of uneconomic trust
130.220 UTC415. Reformation to correct mistakes
130.225 UTC416. Modification to achieve settlor’s tax objectives
130.230 UTC417. Combination and division of trusts
130.235 Interrorem clause
130.240 Maritaldeduction gifts
CREDITOR’SCLAIMS; SPENDTHRIFT AND DISCRETIONARY TRUSTS
130.300 UTC501. Rights of beneficiary’s creditor or assignee
130.305 UTC502. Spendthrift provision
130.310 UTC503. Exceptions to spendthrift provisions
130.315 UTC505. Creditor’s claim against settlor
130.320 UTC506. Overdue distribution
130.325 UTC507. Personal obligations of trustee
CLAIMSAGAINST TRUST BASED ON DEBTS OF SETTLOR
130.350 Statuteof limitations
130.355 Commencementof proceeding
130.360 Limitationon presentation of claims when notice to claimants given
130.365 Publicationof notice
130.370 Noticeto individual claimants
130.375 Formof claim; evidence in support
130.380 Claimbased on debt due or judgment
130.385 Claimon debts not yet due
130.390 Claimon secured debt that is due
130.395 Claimon contingent or unliquidated debt
130.400 Allowanceand disallowance of claims
130.405 Creditormay obtain order for payment
130.410 Evidencerequired to allow court approval of claim disallowed by trustee
130.415 Waiverof statute of limitations
130.420 Tollingof statute of limitations on claim
130.425 Priorityof claims
130.430 Applicabilityof time limitations to public bodies
130.435 Applicabilityof time limitations to certain claims based on liens against property andliability of settlor or trustee
130.440 Petitionto close case
130.445 Dismissalfor want of prosecution
130.450 Consolidationof proceedings
REVOCABLETRUSTS
130.500 UTC601. Revocable trusts generally
130.505 UTC602. Revocation or amendment of revocable trust
130.510 UTC603. Settlor’s powers; powers of withdrawal
130.515 UTC604. Limitation on action contesting validity of revocable trust; distributionof trust property
RULESGOVERNING REVOCABLE TRUSTS
130.520 Definitionfor ORS 130.520 to 130.575
130.525 Applicabilityof ORS 130.520 to 130.575
130.530 Effectof marriage
130.535 Revocationby divorce or annulment
130.540 Contractof sale of property not revocation
130.545 Encumbranceor disposition of property after trust instrument executed
130.550 Whentrust assets pass to descendants of beneficiary; class gifts
130.555 Childrenborn or adopted after execution of trust instrument
130.560 Failureof specific distribution
130.565 Effectof failure of specific distribution
130.570 Advancementagainst share of trust
130.575 Effectof advancement on distribution
OFFICEOF TRUSTEE
130.600 UTC701. Acceptance or rejection of trusteeship
130.605 UTC702. Trustee’s bond
130.610 UTC703. Cotrustees
130.615 UTC704. Vacancy in trusteeship; appointment of successor
130.620 UTC705. Resignation of trustee
130.625 UTC706. Removal of trustee
130.630 UTC707. Delivery of property by former trustee
130.635 UTC708. Compensation of trustee
130.640 UTC709. Reimbursement of expenses