OAR 441-930-0070
Examination of Master Trustee
(1)
Each master trustee that is or should be registered may be subject to an annual examination by the director. The director may, conduct an examination at the office of the master trustee or at the office of the director. The examination will be of the condition and resources of the master trustee, including:(a)
A review of the minutes of the annual meeting of owners and any special meeting;(b)
A review of all board or management meetings;(c)
Operating policies and procedures;(d)
Security of funds, including documentation demonstrating that all trust funds are received from each certified provider;(e)
Investment vehicles;(f)
Receipt and dispersal of funds;(g)
Investment and banking accounts;(h)
Audit reports; and(i)
Regulatory audit reports.(2)
A master trustee shall pay to the director the fees and costs of examination described in OAR 441-930-0270 (Fees Assessed to Certified Providers and Registered Master Trustees).(3)
At the discretion of the director, a master trustee located outside Oregon may make the books and records available for examination in Oregon.(4)
Upon completion of an examination conducted pursuant to OAR 441-930-0070 (Examination of Master Trustee) or 441-930-0260 (Examination of Certified Providers) the director shall issue a written report to the master trustee indicating the examination procedures applied and the examination findings.
Source:
Rule 441-930-0070 — Examination of Master Trustee, https://secure.sos.state.or.us/oard/view.action?ruleNumber=441-930-0070.