Oregon Statutes 125.210 – Circumstances requiring notice to court
(1)(a) A person nominated as a fiduciary shall inform the court of the circumstances of an event before the person is appointed if the person:
Terms Used In Oregon Statutes 125.210
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Fiduciary: A trustee, executor, or administrator.
- Fiduciary: means a guardian or conservator appointed under the provisions of this chapter or any other person appointed by a court to assume duties with respect to a protected person under the provisions of this chapter. See Oregon Statutes 125.005
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Statute: A law passed by a legislature.
(A) Has been convicted of a crime;
(B) Has filed for or received protection under the bankruptcy laws;
(C) Has caused any loss resulting in a surcharge under ORS § 125.025 (3)(e) or a similar statute of another jurisdiction;
(D) Has been removed as a fiduciary under ORS § 125.225; or
(E) Has had a license revoked or canceled that was required by the laws of any state for the practice of a profession or occupation.
(b) If the person nominated as a fiduciary is also the petitioner, the information required by this subsection may be provided in the petition for appointment of a fiduciary in the manner specified by ORS § 125.055.
(2) A person who is appointed as a fiduciary shall inform the court of the circumstances of an event immediately if the person:
(a) Is convicted of a crime;
(b) Files for or receives protection under the bankruptcy laws;
(c) Causes any loss resulting in a surcharge under ORS § 125.025 (3)(e) or a similar statute of another jurisdiction;
(d) Is removed as a fiduciary under ORS § 125.225; or
(e) Has a license revoked or canceled that is required by the laws of any state for the practice of a profession or occupation.
(3) A person who is required to give notice to the court under subsection (2) of this section shall also give notice to those persons listed in ORS § 125.060 (3).
(4) The court may decline to appoint a person as a fiduciary, or may remove a person as a fiduciary, if the person fails to comply with the provisions of this section. [1995 c.664 § 21; 2018 c.59 § 3]