reglab/housing_qa huggingface dataset:
OR Rev Stat § 130.610 (2021)
2021 Oregon Revised Statutes|Volume : 03 - Landlord-Tenant, Domestic Relations, Probate|Chapter 130 - Uniform Trust Code|Section 130.610 - UTC 703. Cotrustees.

(1) Cotrustees who are unable to reach a unanimous decision may act by majority decision. (2) If a vacancy occurs in a cotrusteeship, the remaining cotrustee or cotrustees may act for the trust. (3) A cotrustee must participate in the performance of a trustee’s function unless: (a) The cotrustee is unavailable to perform the function because of absence, illness or disqualification under other law; (b) The cotrustee is unavailable to perform the function because the cotrustee is temporarily financially incapable; or (c) The cotrustee has delegated the performance of the function to another trustee pursuant to subsection (5) of this section. (4) If a cotrustee is unavailable to perform duties because of absence, illness, disqualification under other law or temporary financial incapability, and prompt action is necessary to achieve the purposes of the trust or to avoid injury to the trust property, the remaining cotrustee or a majority of the remaining cotrustees may act for the trust. (5) Except as prohibited in the terms of the trust, a cotrustee may delegate the performance of a function to another cotrustee, and the other cotrustee may accept the delegation of the performance of the function. The delegation and the acceptance must be in writing. A delegation shall remain in effect until it terminates by its terms, is revoked in writing by the cotrustee making the delegation or is terminated in writing by the cotrustee accepting the delegation. (6) Except as otherwise provided in subsection (7) of this section, a cotrustee who does not join in an action of another cotrustee is not liable for the action. (7) Each cotrustee shall exercise reasonable care to: (a) Prevent a cotrustee from committing a serious breach of trust; and (b) Compel a cotrustee to redress a serious breach of trust. (8) A dissenting cotrustee who joins in an action at the direction of the majority of the cotrustees and who notified any cotrustee of the dissent at or before the time of the action is not liable for the action unless the action is a serious breach of trust. [2005 c.348 §52; 2013 c.529 §12]
OR Rev Stat § 130.615 (2021)
2021 Oregon Revised Statutes|Volume : 03 - Landlord-Tenant, Domestic Relations, Probate|Chapter 130 - Uniform Trust Code|Section 130.615 - UTC 704. Vacancy in trusteeship; appointment of successor.

(1) A vacancy in a trusteeship occurs if: (a) A person designated as trustee rejects the trusteeship; (b) A person designated as trustee cannot be identified, cannot be located or does not exist; (c) A trustee resigns; (d) A trustee is disqualified or removed; (e) A trustee dies; or (f) A guardian or conservator is appointed for an individual serving as trustee. (2) If one or more cotrustees remain in office, a vacancy in a trusteeship need not be filled. A vacancy in a trusteeship must be filled if the trust has no remaining trustee. (3) A vacancy in a trusteeship of a noncharitable trust that is required to be filled must be filled in the following order of priority: (a) By a person designated in the terms of the trust to act as successor trustee; (b) By a person appointed by unanimous agreement of the qualified beneficiaries; or (c) By a person appointed by the court. (4) A vacancy in a trusteeship of a charitable trust that is required to be filled must be filled in the following order of priority: (a) By a person designated in the terms of the trust to act as successor trustee; (b) By a person appointed by unanimous agreement of all qualified beneficiaries and the Attorney General; or (c) By a person appointed by the court. (5) Whether or not a vacancy in a trusteeship exists or is required to be filled, the court may appoint an additional trustee or special fiduciary whenever the court considers the appointment necessary for the administration of the trust. [2005 c.348 §53; 2013 c.529 §13]
OR Rev Stat § 130.620 (2021)
2021 Oregon Revised Statutes|Volume : 03 - Landlord-Tenant, Domestic Relations, Probate|Chapter 130 - Uniform Trust Code|Section 130.620 - UTC 705. Resignation of trustee.

(1) A trustee may resign: (a) After at least 30 days’ notice to the qualified beneficiaries, the settlor, if living, and all cotrustees; or (b) At any time with the approval of a court. (2) If a court approves a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property. (3) Any liability of a resigning trustee or of any sureties on the trustee’s bond for acts or omissions of the trustee is not discharged or affected by the trustee’s resignation. [2005 c.348 §54]
OR Rev Stat § 130.625 (2021)
2021 Oregon Revised Statutes|Volume : 03 - Landlord-Tenant, Domestic Relations, Probate|Chapter 130 - Uniform Trust Code|Section 130.625 - UTC 706. Removal of trustee.

(1) The settlor, a cotrustee or a beneficiary may request that a court remove a trustee, or a trustee may be removed by a court on its own motion. (2) A court may remove a trustee if the court finds: (a) The trustee has committed a serious breach of trust; (b) Lack of cooperation among cotrustees substantially impairs the administration of the trust; (c) Removal of the trustee best serves the interests of the beneficiaries because the trustee is unfit or unwilling, or has persistently failed to administer the trust effectively; or (d) Removal of the trustee best serves the interests of all of the beneficiaries and: (A) There has been a substantial change of circumstances or removal has been requested by all of the qualified beneficiaries; (B) A suitable cotrustee or successor trustee is available; and (C) The trustee fails to establish by clear and convincing evidence that removal is inconsistent with a material purpose of the trust. (3) Pending a final decision on a request to remove a trustee, or in lieu of or in addition to removing a trustee, the court may order such appropriate relief under ORS 130.800 (2) as may be necessary to protect the trust property or the interests of the beneficiaries. [2005 c.348 §55; 2013 c.529 §14]
OR Rev Stat § 130.630 (2021)
2021 Oregon Revised Statutes|Volume : 03 - Landlord-Tenant, Domestic Relations, Probate|Chapter 130 - Uniform Trust Code|Section 130.630 - UTC 707. Delivery of property by former trustee; report.

(1) Unless a cotrustee remains in office or the court otherwise orders, a trustee who has resigned or been removed has the duties of a trustee and the powers necessary to protect the trust property until the trust property is delivered to a successor trustee or other person who is entitled to the property. (2) A trustee who has resigned or been removed shall proceed expeditiously to deliver any trust property in the trustee’s possession to the cotrustee, successor trustee or other person who is entitled to the property. (3) A successor trustee or the court may require a trustee that has resigned or been removed to send a report as provided in ORS 130.710 (3). Reasonable compensation for preparation of the report, and reasonable fees and costs incurred in the preparation and distribution of the report, shall be paid by the trust. [2005 c.348 §56; 2013 c.529 §15]
OR Rev Stat § 130.635 (2021)
2021 Oregon Revised Statutes|Volume : 03 - Landlord-Tenant, Domestic Relations, Probate|Chapter 130 - Uniform Trust Code|Section 130.635 - UTC 708. Compensation of trustee.

(1) If the terms of a trust do not specify the trustee’s compensation, a trustee is entitled to compensation that is reasonable under the circumstances. (2) If the terms of a trust specify the trustee’s compensation, the trustee is entitled to be compensated as specified, but the court may allow more or less compensation if: (a) The duties of the trustee are substantially different from those contemplated when the trust was created; or (b) The compensation specified by the terms of the trust would be unreasonably low or high. (3) If more than one trustee is serving and the terms of the trust do not specify the trustees’ compensation, the compensation paid to all trustees under this section shall be based on the total services provided by all trustees. (4) If the terms of a trust do not specify the trustee’s compensation, the fees paid to third parties, including but not limited to financial advisors, who perform trustee functions must be taken into account in determining reasonable trustee compensation under this section. [2005 c.348 §57; 2013 c.529 §16]
OR Rev Stat § 130.640 (2021)
2021 Oregon Revised Statutes|Volume : 03 - Landlord-Tenant, Domestic Relations, Probate|Chapter 130 - Uniform Trust Code|Section 130.640 - UTC 709. Reimbursement of expenses.

(1) A trustee is entitled to be reimbursed out of the trust property, with reasonable interest if appropriate, for: (a) Expenses that were properly incurred in the administration of the trust; and (b) To the extent necessary to prevent unjust enrichment of the trust, expenses that were not properly incurred in the administration of the trust. (2) A trustee is entitled to be reimbursed out of the trust property or from property that has been distributed from the trust, with reasonable interest, for an advance of money made by the trustee for the protection of the trust. [2005 c.348 §58]
OR Rev Stat § 130.650 (2021)
2021 Oregon Revised Statutes|Volume : 03 - Landlord-Tenant, Domestic Relations, Probate|Chapter 130 - Uniform Trust Code|Section 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, 130.200, 130.205, 130.210, 130.215, 130.220 or 130.225, or a trust combination or division under ORS 130.230, 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 (1). [2005 c.348 §59; 2013 c.529 §17]
OR Rev Stat § 130.660 (2021)
2021 Oregon Revised Statutes|Volume : 03 - Landlord-Tenant, Domestic Relations, Probate|Chapter 130 - Uniform Trust Code|Section 130.660 - UTC 803. Impartiality.

If a trust has two or more beneficiaries, the trustee shall act impartially in investing, managing and distributing the trust property, giving due regard to the beneficiaries’ respective interests. [2005 c.348 §61]
OR Rev Stat § 130.665 (2021)
2021 Oregon Revised Statutes|Volume : 03 - Landlord-Tenant, Domestic Relations, Probate|Chapter 130 - Uniform Trust Code|Section 130.665 - UTC 804. Prudent administration.

A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distributional requirements and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill and caution. [2005 c.348 §62]
OR Rev Stat § 130.670 (2021)
2021 Oregon Revised Statutes|Volume : 03 - Landlord-Tenant, Domestic Relations, Probate|Chapter 130 - Uniform Trust Code|Section 130.670 - UTC 805. Costs of administration.

In administering a trust, the trustee may incur only costs that are reasonable in relation to the trust property, the purposes of the trust and the skills of the trustee. [2005 c.348 §63]
OR Rev Stat § 130.675 (2021)
2021 Oregon Revised Statutes|Volume : 03 - Landlord-Tenant, Domestic Relations, Probate|Chapter 130 - Uniform Trust Code|Section 130.675 - UTC 806. Trustee’s skills.

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, shall use those special skills or expertise in administering the trust. [2005 c.348 §64]
OR Rev Stat § 130.680 (2021)
2021 Oregon Revised Statutes|Volume : 03 - Landlord-Tenant, Domestic Relations, Probate|Chapter 130 - Uniform Trust Code|Section 130.680 - UTC 807. Delegation by trustee.

(1) A trustee may delegate duties and powers that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill and caution in: (a) Selecting an agent; (b) Establishing the scope and terms of the delegation, consistent with the purposes and terms of the trust; and (c) Periodically reviewing the agent’s actions in order to monitor the agent’s performance and compliance with the terms of the delegation. (2) In performing a delegated function, an agent owes a duty to the trust to exercise reasonable care to comply with the terms of the delegation. (3) A trustee who complies with subsection (1) of this section is not liable to the beneficiaries or to the trust for an action of the agent. (4) By accepting a delegation of powers or duties from the trustee of a trust that is subject to this state’s law, an agent submits to the jurisdiction of the courts of this state. [2005 c.348 §65]
OR Rev Stat § 130.685 (2021)
2021 Oregon Revised Statutes|Volume : 03 - Landlord-Tenant, Domestic Relations, Probate|Chapter 130 - Uniform Trust Code|Section 130.685 - UTC 808. Powers to direct.

(1) While a trust is revocable, the trustee may follow a direction of the settlor that is contrary to the terms of the trust. (2) If the terms of a trust confer upon a person other than the settlor of a revocable trust power to direct certain actions of the trustee, the trustee shall act in accordance with an exercise of the power unless the exercise is manifestly contrary to the terms of the trust or the trustee knows the attempted exercise would constitute a serious breach of a fiduciary duty that the person holding the power owes to the beneficiaries of the trust. (3) The terms of a trust may confer upon a trustee or other person a power to direct the modification or termination of the trust. (4) A person other than a beneficiary who holds a power to direct is rebuttably presumed to be a fiduciary and is required to act in good faith with regard to the purposes of the trust and the interests of the beneficiaries. The holder of a power to direct is liable for any loss that results from breach of a fiduciary duty. [2005 c.348 §66]
OR Rev Stat § 130.690 (2021)
2021 Oregon Revised Statutes|Volume : 03 - Landlord-Tenant, Domestic Relations, Probate|Chapter 130 - Uniform Trust Code|Section 130.690 - UTC 809. Control and protection of trust property.

A trustee shall take reasonable steps to take control of and protect the trust property. [2005 c.348 §67]
OR Rev Stat § 130.695 (2021)
2021 Oregon Revised Statutes|Volume : 03 - Landlord-Tenant, Domestic Relations, Probate|Chapter 130 - Uniform Trust Code|Section 130.695 - UTC 810. Recordkeeping and identification of trust property.

(1) A trustee shall keep adequate records of the administration of the trust. (2) A trustee shall keep trust property separate from the trustee’s own property. (3) Except as otherwise provided in subsection (4) of this section, a trustee shall cause the trust property to be designated so that the interest of the trust, to the extent feasible, appears in records maintained by a party other than a trustee or beneficiary. (4) If the trustee maintains records clearly indicating the respective interests of the different trusts, a trustee may invest as a whole the property of two or more separate trusts. [2005 c.348 §68]
OR Rev Stat § 130.700 (2021)
2021 Oregon Revised Statutes|Volume : 03 - Landlord-Tenant, Domestic Relations, Probate|Chapter 130 - Uniform Trust Code|Section 130.700 - UTC 811. Enforcement and defense of claims.

A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust. [2005 c.348 §69]
OR Rev Stat § 130.705 (2021)
2021 Oregon Revised Statutes|Volume : 03 - Landlord-Tenant, Domestic Relations, Probate|Chapter 130 - Uniform Trust Code|Section 130.705 - UTC 812. Collecting trust property.

A trustee shall take reasonable steps to compel a former trustee or other person to deliver trust property to the trustee, and to remedy a breach of trust known to the trustee to have been committed by a former trustee. [2005 c.348 §70]
OR Rev Stat § 130.715 (2021)
2021 Oregon Revised Statutes|Volume : 03 - Landlord-Tenant, Domestic Relations, Probate|Chapter 130 - Uniform Trust Code|Section 130.715 - UTC 814. Discretionary powers; tax savings; inclusion of capital gains in income.

(1) A trustee shall exercise a discretionary power in good faith and in a manner that is in accordance with the terms and purposes of the trust and the interests of the beneficiaries. The duty imposed by this subsection is not affected by the grant of discretion in the terms of the trust, even though the terms of the trust provide that the trustee has absolute, sole or uncontrolled discretion or use other words purporting to convey broad discretion. (2) Subject to subsection (4) of this section, and unless the terms of the trust expressly provide otherwise: (a) A person other than a settlor who is a beneficiary and trustee of a trust that confers on the trustee a power to make discretionary distributions to or for the trustee’s personal benefit may exercise the power only in accordance with an ascertainable standard; and (b) A trustee may not exercise a power to make discretionary distributions to satisfy a legal obligation of support that the trustee personally owes another person. (3) A power the exercise of which is limited or prohibited by subsection (2) of this section may be exercised by a majority of the remaining trustees whose exercise of the power is not so limited or prohibited. If the power of all trustees is so limited or prohibited, the court may appoint a special fiduciary with authority to exercise the power. (4) Subsection (2) of this section does not apply to: (a) A power held by the settlor’s spouse who is the trustee of a trust for which a marital deduction, as described in section 2056(b)(5) or 2523(e) of the Internal Revenue Code, as in effect on January 1, 2006, was previously allowed; (b) Any trust during any period that the trust may be revoked or amended by its settlor; or (c) A trust if contributions to the trust qualify for the annual exclusion under section 2503(c) of the Internal Revenue Code, as in effect on January 1, 2006. (5) Unless otherwise provided by the trust, a trustee may include capital gains from the sale or exchange of capital assets in distributable net income to the extent that the gains are, in a reasonable and impartial exercise of discretion by the trustee: (a) Allocated to income pursuant to the trustee’s power to adjust between principal and income under ORS 129.215; (b) Allocated to principal and treated consistently by the trustee on the trust’s books, records and tax returns as part of a distribution to a beneficiary; or (c) Allocated to principal but actually distributed to a beneficiary or utilized by the trustee in determining the amount that is distributed or required to be distributed to a beneficiary. [2005 c.348 §73; 2015 c.126 §3] Note: See note under 130.230.
OR Rev Stat § 130.720 (2021)
2021 Oregon Revised Statutes|Volume : 03 - Landlord-Tenant, Domestic Relations, Probate|Chapter 130 - Uniform Trust Code|Section 130.720 - UTC 815. General powers of trustee.

(1) A trustee, without authorization by the court, may exercise powers conferred by the terms of the trust and, except as limited by the terms of the trust: (a) All powers over the trust property that an unmarried financially capable owner has over individually owned property; (b) Any other powers appropriate to achieve the proper investment, management and distribution of the trust property; and (c) Any other powers conferred by this chapter. (2) The exercise of a power is subject to the fiduciary duties prescribed by ORS 130.650 to 130.730. [2005 c.348 §74]
OR Rev Stat § 130.730 (2021)
2021 Oregon Revised Statutes|Volume : 03 - Landlord-Tenant, Domestic Relations, Probate|Chapter 130 - Uniform Trust Code|Section 130.730 - UTC 817. When interest of beneficiary vests; distribution upon termination.

(1) The interests of a beneficiary under a testamentary trust vest upon the death of the testator, and the interests of a beneficiary under a revocable or irrevocable trust vest when the trust becomes irrevocable, and not later, unless the will or trust clearly indicates a contrary intent. (2) Unless a will or trust clearly indicates a contrary intent, upon the occurrence of an event, satisfaction of a condition or exercise of a power that terminates or partially terminates a trust or creates an obligation for the trustee to pay or distribute all or any portion of a trust to a beneficiary, the beneficiary’s interest in the terminated trust, portion or distribution indefeasibly vests in the beneficiary as of the event, satisfaction or exercise, subject to ORS 114.600 to 114.725, rights of creditors and the administration and sale of trust property by the trustee. Upon the termination or partial termination of a trust or upon creation of the obligation for the trustee to pay or distribute all or any portion of a trust to a beneficiary under this subsection, the trustee shall proceed expeditiously to distribute the trust property to the persons entitled to the property. The trustee may retain a reasonable reserve for the payment of debts, fees, expenses and taxes. (3) Incidental to a termination or partial termination of a trust, the trustee may request that a beneficiary execute a release of the trustee from liability for breach of trust. A release under this subsection is invalid to the extent: (a) The release was induced by improper conduct of the trustee; or (b) The trustee failed to adequately disclose to the beneficiary, at the time of the release, the material facts relating to the breach or sufficient information to enable the beneficiary to know of a potential claim or to inquire into the existence of a breach or potential claim. [2005 c.348 §76; 2013 c.529 §21; 2015 c.126 §4] Note: See note under 130.230.