Uniform Trust Code

ORS 130.650
UTC 801. Duty to administer trust


(1)

Upon acceptance of a trusteeship, the trustee shall administer the trust in good faith, in accordance with its terms and purposes and the interests of the beneficiaries, and in accordance with this chapter.

(2)

A trustee is not required to object to a modification, reformation or termination of the trust under ORS 130.045 (UTC 111. Nonjudicial settlement agreements), 130.200 (UTC 411. Modification or termination of irrevocable trust by consent), 130.205 (UTC 412. Modifications or termination because of unanticipated circumstances or inability to administer trust effectively), 130.210 (UTC 413. Cy pres), 130.215 (UTC 414. Modification or termination of uneconomic trust), 130.220 (UTC 415. Reformation to correct mistakes) or 130.225 (UTC 416. Modification to achieve settlor’s tax objectives), or a trust combination or division under ORS 130.230 (UTC 417. Combination and division of trusts), solely because of the existence of the duty to administer the trust under subsection (1) of this section or the duty of loyalty under ORS 130.655 (UTC 802. Duty of loyalty) (1). [2005 c.348 §59; 2013 c.529 §17]

Law Review Citations

42 WLR 187 (2006)

Chapter 130

Law Review Citations

42 WLR 187 (2006)


Source

Last accessed
Jun. 26, 2021