Source: https://fiduciary-experts.com/oregon-uniform-prudent-investor-act/
Timestamp: 2020-08-10 21:10:33
Document Index: 659480110

Matched Legal Cases: ['§77', '§78', '§2', '§79', '§80', '§81', '§82']

OREGON UNIFORM PRUDENT INVESTOR ACT | Fiduciary Experts
Volume: 03 – Landlord-Tenant, Domestic Relations
Probate Chapter 130 – Uniform Trust Code
Section 130.750 – Trustee’s duty to comply with prudent investor rule.
(1) Except as otherwise provided in subsection (2) of this section, a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule set forth in ORS 130.755.
(2) The prudent investor rule is a default rule that may be expanded, restricted, eliminated or otherwise altered by the provisions of a trust. A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on the provisions of the trust.
[2005 c.348 §77]
Section 130.755 – Prudent investor rule.
(h) An asset’s special relationship or special value, if any, to the purposes of the trust or to one or more of the beneficiaries;
(i) The intent, desire and personal values of the settlor, including the settlor’s desire to engage in sustainable or socially responsible investment strategies that align with the settlor’s social, environmental, governance or other values or beliefs to the extent known by the trustee; and
(j) The needs of the beneficiaries, including but not limited to the beneficiaries’ personal values and desire that the trustee engage in sustainable or socially responsible investing strategies that align with the beneficiaries’ social, environmental, governance or other values or beliefs, as well as the financial needs of the beneficiaries.
(6) A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee’s representation that the trustee has special skills or expertise, has a duty to use those special skills or expertise in investing and managing trust assets.
[2005 c.348 §78; 2019 c.546 §2]
Section 130.760 – Diversification of trust investments.
[2005 c.348 §79]
Section 130.765 – Trustee duty.
Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets in order to bring the trust portfolio into compliance with the requirements of ORS 130.750 to 130.775 and with the purposes, terms, distribution requirements and other circumstances of the trust.
[2005 c.348 §80]
Section 130.770 – Determination of compliance with prudent investor rule.
[2005 c.348 §81]
Section 130.775 – Trust language authorizing investments permitted under prudent investor rule.
Unless otherwise limited or modified, the following terms or comparable language in the provisions of a trust authorize any investment or strategy permitted under ORS 130.750 to 130.775: “investments permissible by law for investment of trust funds,” “legal investments,” “authorized investments,” “using the judgment and care under the circumstances then prevailing that persons of prudence, discretion and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital,” “prudent man rule,” “prudent trustee rule” and “prudent investor rule.”
[2005 c.348 §82]