Oregon Statutes 750.331 – Prohibited activities for trustee or officer
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In addition to limitations and restrictions imposed by the federal Employee Retirement Income Security Act of 1974, as amended, 29 U.S.C. § 1001 et seq., on trustees or officers in their capacity as fiduciaries, a trustee or officer of a trust carrying out a multiple employer welfare arrangement shall not do any of the following:
Terms Used In Oregon Statutes 750.331
- 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
- Trustee: A person or institution holding and administering property in trust.
(1) Receive directly or indirectly any payment for negotiating, procuring, recommending or aiding in:
(a) Any purchase by or sale to the trust; or
(b) Any loan from the trust.
(2) Be pecuniarily interested, as principal, coprincipal, agent or beneficiary, in a purchase, sale or loan described in subsection (1) of this section. [1993 c.615 § 18]
See note under 750.301.