ORS 126.805
Definitions for ORS 126.805 to 126.886


As used in ORS 126.805 (Definitions for ORS 126.805 to 126.886) to 126.886 (Short title), except where the context otherwise requires:

(1)

“Adult” means any person who has attained the age of 21 years.

(2)

“Beneficiary” means a person for whose benefit a transfer has been made to a custodian.

(3)

“Broker” means a person lawfully engaged in the business of effecting transactions in securities or commodities for the account of the person or for others.

(4)

“Conservator” means a person appointed or qualified by a court to act as general, limited or temporary guardian of a beneficiary’s property or a person legally authorized to perform substantially the same functions.

(5)

“Court” means circuit court.

(6)

“Custodial property” includes:

(a)

Any interest in property transferred to a custodian under ORS 126.805 (Definitions for ORS 126.805 to 126.886) to 126.886 (Short title).

(b)

The income from that interest in property.

(7)

“Custodian” means the person designated as custodian under ORS 126.812 (Nomination of custodian) or a successor or substitute custodian designated under ORS 126.862 (Refusal to serve as custodian).

(8)

“Financial institution” means a financial institution as defined in ORS 706.008 (Additional definitions for Bank Act) or a trust company as defined in ORS 706.008 (Additional definitions for Bank Act).

(9)

“Legal representative” means the personal representative or conservator.

(10)

“Member of the beneficiary’s family” means the beneficiary’s parent, stepparent, spouse, grandparent, brother, sister, uncle or aunt, whether of the whole blood or the half blood or through legal adoption.

(11)

“Minor” means any person who has not attained the age of 21 years.

(12)

“Personal representative” means an executor, administrator, successor personal representative, or special administrator of a decedent’s estate or a person legally authorized to perform substantially the same functions.

(13)

“State” includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico and any territory or possession subject to the legislative authority of the United States.

(14)

“Transfer” means a transaction that creates custodial property under ORS 126.832 (Creation and transfer of custodial property).

(15)

“Transferor” means a person who makes a transfer under ORS 126.805 (Definitions for ORS 126.805 to 126.886) to 126.886 (Short title).

(16)

“Trust company” means a trust company as defined in ORS 706.008 (Additional definitions for Bank Act). [1959 c.640 §1; 1967 c.300 §1; 1973 c.827 §18; 1981 c.443 §1; 1983 c.457 §1; 1985 c.665 §1; 1997 c.631 §412; 2005 c.349 §1]

Source: Section 126.805 — Definitions for ORS 126.805 to 126.886, https://www.­oregonlegislature.­gov/bills_laws/ors/ors126.­html.

126.700
Payment or delivery for benefit of minor
126.725
Settlement agreement on behalf of minor
126.730
Payment of moneys to minor pursuant to judgment
126.735
Legislative findings
126.805
Definitions for ORS 126.805 to 126.886
126.809
Applicability of ORS 126.805 to 126.886
126.812
Nomination of custodian
126.816
Irrevocable gifts or exercise of power of appointment
126.819
Irrevocable transfer by personal representative or trustee to custodian
126.822
Transfer to custodian in absence of authorization
126.826
Irrevocable transfer by person holding property of or owing liquidated debt to minor
126.829
Written acknowledgment of delivery as receipt
126.832
Creation and transfer of custodial property
126.836
Limitations on custodianship
126.839
Validity of transfer
126.842
Duties of custodian
126.846
Rights, powers and authority of custodian
126.849
Payments to and expenditures for beneficiary
126.852
Reimbursement to custodian for reasonable expenses
126.857
Third person’s duties in dealing with custodian
126.859
Claims against custodial property
126.862
Refusal to serve as custodian
126.866
Petition for accounting by custodian, determination of responsibility
126.869
Time of transfer of custodial property to beneficiary or beneficiary’s estate
126.872
Delayed transfer of custodial property to beneficiary
126.875
Accounting by custodian
126.877
Applicability of ORS 126.805 to 126.886 to transfers made after January 1, 1986
126.879
Validation of transfer made before January 1, 1986
126.882
Application and construction of ORS 126.805 to 126.886
126.886
Short title
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