OAR 813-300-0130
Voluntary Termination of a Fiduciary Organization

(1) Any fiduciary organization, the Department and its designee may terminate that fiduciary organization’s program plan and its authorization as a fiduciary organization upon thirty (30) days’ notice by written mutual consent.
(2) In determining whether or not to provide its termination consent, the Department and its designee may consider factors including, but not limited to the following:
(a) The financial and organizational capacity of the fiduciary organization to continue;
(b) The impact of the termination upon account holders and designated beneficiaries;
(c) The past performance of the fiduciary organization;
(d) The current eligibility of the fiduciary organization;
(e) The ability and willingness of the fiduciary organization to transfer account holder IDAs and related personal development plans, and the management and funding of same, to other fiduciary organizations;
(f) The ability and willingness of the fiduciary organization to transfer tax credit contributions, related funds, and other moneys to other fiduciary organizations in support of the transfer of account holder IDAs and related personal development plans;
(g) The willingness of account holders and designated beneficiaries with respect to termination of the fiduciary organization; and
(h) Whether or not the fiduciary organization has delivered to the Department or its designee any unused tax credit contributions, related funds and any other moneys.
(3) The Department and its designee may condition its consent upon such terms and conditions as seems reasonable, including without limit, that the fiduciary organization continue to perform with respect to any or all existing IDAs.

Source: Rule 813-300-0130 — Voluntary Termination of a Fiduciary Organization, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=813-300-0130.

Last Updated

Jun. 8, 2021

Rule 813-300-0130’s source at or​.us