Oregon Statutes 128.001 – Limitations on accepting payment for preparation of trust
(1) Except as provided in this section, a person may not accept anything of value in exchange for the preparation of a trust.
Terms Used In Oregon Statutes 128.001
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
(2) Subsection (1) of this section does not apply to an attorney who charges and accepts a fee for the preparation of a trust for a client in the course of representing that client.
(3) Subsection (1) of this section does not apply to any trust company or financial institution as defined in ORS Chapter 706.
(4) Subsection (1) of this section does not apply to a resulting or constructive trust, a business trust that provides for certificates to be issued to the beneficiary, an investment trust, a voting trust, a security instrument, a trust created by the judgment of a court, a liquidation trust, a trust for the primary purpose of paying dividends, interests, interest coupons, salaries, wages, pensions, profits or employee benefits of any kind, an instrument in which a person is nominee or escrowee for another person or a trust created in deposits in any financial institution.
(5) Nothing in this section authorizes any person to engage in the practice of law in violation of ORS § 9.160. [1997 c.806 § 1; 2003 c.576 § 383]
[1977 c.614 § 10; repealed by 2005 c.348 § 128]
[1977 c.614 § 1; 2003 c.576 § 384; repealed by 2005 c.348 § 128]
[1977 c.614 § 2; 1995 c.157 § 18; repealed by 2005 c.348 § 128]
[1977 c.614 § 3; 1981 c.915 § 1; 1989 c.73 § 1; 1993 c.228 § 1; 1995 c.157 § 19; 2003 c.84 § 13; repealed by 2005 c.348 § 128]
[Renumbered 128.055]
[1977 c.614 § 4; 1993 c.228 § 2; repealed by 2005 c.348 § 128]
[Amended by 1969 c.267 § 1; renumbered 128.057]
[1977 c.614 § 5; 1995 c.157 § 20; repealed by 2005 c.348 § 128]
[1969 c.267 § 3; renumbered 128.061]
[1977 c.614 § 6; 1995 c.157 § 21; repealed by 2005 c.348 § 128]
[Amended by 1977 c.614 § 13; renumbered 128.065]
[1977 c.614 § 7; repealed by 2005 c.348 § 128]
[1977 c.614 § 8; repealed by 2005 c.348 § 128]
[Repealed by 1977 c.614 § 14]
[1977 c.614 § 9; repealed by 2005 c.348 § 128]
[1977 c.614 § 11; repealed by 2005 c.348 § 128]
[1993 c.226 § 3; repealed by 2005 c.348 § 128]
[Repealed by 1977 c.614 § 14]
[1977 c.614 § 12; repealed by 2005 c.348 § 128]
[Formerly 128.010; repealed by 2005 c.348 § 128]
[Formerly 128.020; 1979 c.382 § 1; repealed by 1995 c.157 § 26]
[Amended by 1973 c.827 § 19; repealed by 1977 c.614 § 14]
[1969 c.267 § 3; formerly 128.025; repealed by 1979 c.382 § 2]
[Formerly 128.030; 1995 c.157 § 22; repealed by 2005 c.348 § 128]
[Repealed by 1973 c.506 § 46]
[1973 c.367 § 16; renumbered 128.595]
[Amended by 1973 c.177 § 2; repealed by 1973 c.506 § 46]
PRIVATE FOUNDATION AND SPLIT INTEREST TRUSTS