Oregon Statutes 650.450 – Indemnification; grantor and dealer
(1) Notwithstanding any dealership agreement:
Terms Used In Oregon Statutes 650.450
- Grantor: The person who establishes a trust and places property into it.
- Summons: Another word for subpoena used by the criminal justice system.
(a) A grantor shall indemnify a dealer against and hold the dealer harmless from any cost, loss or damage, including attorney fees, arising out of a claim, action or judgment based on the grantor’s negligence or intentional misconduct.
(b) A dealer shall indemnify a grantor against and hold the grantor harmless from any cost, loss or damage, including attorney fees, arising out of a claim, action or judgment based on the dealer’s negligence or intentional misconduct.
(2)(a) A dealer shall notify the grantor of a claim or action that is subject to subsection (1)(a) of this section within 10 days of the dealer’s receipt of the claim or service of summons.
(b) A grantor shall notify the dealer of a claim or action that is subject to subsection (1)(b) of this section within 10 days of the grantor’s receipt of the claim or service of summons. [2003 c.377 § 16]