Oregon Statutes 125.691 – Oregon Public Guardian and Conservator Protected Person Trust Account
(1) The Oregon Public Guardian and Conservator Protected Person Trust Account is established in the State Treasury separate and distinct from the General Fund and the Oregon Public Guardian and Conservator Fund. Moneys in the Oregon Public Guardian and Conservator Protected Person Trust Account consists of moneys received on behalf of persons for whom the Oregon Public Guardian and Conservator has been appointed as a guardian or conservator. All moneys in the account are continuously appropriated to the Oregon Public Guardian and Conservator to be used for the benefit of a person for whom the Oregon Public Guardian and Conservator has been appointed as a guardian or conservator and on whose behalf the Oregon Public Guardian and Conservator has received moneys.
Terms Used In Oregon Statutes 125.691
- Conservator: means a person appointed as a conservator under the provisions of this chapter. See Oregon Statutes 125.005
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Guardian: means a person appointed as a guardian under the provisions of this chapter. See Oregon Statutes 125.005
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Protected person: means a person for whom a protective order has been entered. See Oregon Statutes 125.005
- State Treasury: includes those financial assets the lawful custody of which are vested in the State Treasurer and the office of the State Treasurer relating to the custody of those financial assets. See Oregon Statutes 174.100
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
(2) The Oregon Public Guardian and Conservator shall administer the trust account:
(a) For the benefit of persons for whom the Oregon Public Guardian and Conservator has been appointed a guardian or conservator and on whose behalf the Oregon Public Guardian and Conservator has received moneys; and
(b) In accordance with the provisions of this chapter or as ordered by the court.
(3) The Oregon Public Guardian and Conservator may establish subaccounts within the Oregon Public Guardian and Conservator Protected Person Trust Account when the Oregon Public Guardian and Conservator determines that subaccounts are necessary or desirable. Interest earned by the account or subaccounts, if any, shall accrue to the benefit of the account or subaccounts. [2017 c.310 § 8]