OAR 813-300-0050
Fiduciary Organization Selection of Account Holders and Designated Beneficiaries

(1) Each fiduciary organization must establish an application process for potential account holders and designated beneficiaries satisfactory to the Department or its designee. At a minimum, the application process must accomplish the following objectives:
(a) Verify the eligibility of each prospective account holder and of any prospective designated beneficiary;
(b) Assist each selected account holder and designated beneficiary, if any, to prepare an appropriate personal development plan;
(c) Execute an IDA with each selected account holder;
(d) Engage a financial organization for maintenance of appropriate IDA accounts; and,
(e) Assure the collection of other information necessary for appropriate record keeping and reporting requirements.
(2) Subject to the approval of the Department or its designee and the limitations of applicable law, each fiduciary organization may impose such other criteria and require such other information in the selection of account holders and designated beneficiaries as that fiduciary organization deems to be appropriate.
(3) Additional selection criteria may include, but are not limited to the following:
(a) The capacity and funding of the fiduciary organization to accommodate prospective account holders and designated beneficiaries;
(b) The availability of necessary or appropriate third-party contractors and other partners;
(c) The extent to which the income and net worth of the prospective account holders are lower than the income and net worth limitations established in ORS 458.670 (Definitions for ORS 458.670 to 458.700)(5) and 458.680 (Persons qualifying as account holders)(2);
(d) The accuracy, substance, and completeness of submitted applications;
(e) Any identified ability or inability of the prospective account holder or the prospective designated beneficiary to fulfill the terms of an appropriate IDA and the corresponding personal development plan;
(f) The cost and feasibility of an appropriate personal development plan;
(g) Past experience with prospective account holders and designated beneficiaries; and
(h) Such other considerations as the Department or its designee may identify.

Source: Rule 813-300-0050 — Fiduciary Organization Selection of Account Holders and Designated Beneficiaries, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=813-300-0050.

Last Updated

Jun. 8, 2021

Rule 813-300-0050’s source at or​.us