Oregon Law
Law as of Jan 1, 2026
Chapter contents
128.001Limitations on accepting payment for preparation of trust 128.003[1977 c.614 §10; repealed by 2005 c.348 §128] 128.005[1977 c.614 §1; 2003 c.576 §384; repealed by 2005 c.348 §128] 128.007[1977 c.614 §2; 1995 c.157 §18; repealed by 2005 c.348 §128] 128.009[1977 c.614 §3; 1981 c.915 §1; 1989 c.73 §1; 1993 c.228 §1; 1995 c.157 §19; 2003 c.84 §13; repealed by 2005 c.348 §128] 128.010[Renumbered 128.055] 128.015[1977 c.614 §4; 1993 c.228 §2; repealed by 2005 c.348 §128] 128.020[Amended by 1969 c.267 §1; renumbered 128.057] 128.021[1977 c.614 §5; 1995 c.157 §20; repealed by 2005 c.348 §128] 128.025[1969 c.267 §3; renumbered 128.061] 128.026[1977 c.614 §6; 1995 c.157 §21; repealed by 2005 c.348 §128] 128.030[Amended by 1977 c.614 §13; renumbered 128.065] 128.031[1977 c.614 §7; repealed by 2005 c.348 §128] 128.035[1977 c.614 §8; repealed by 2005 c.348 §128] 128.040[Repealed by 1977 c.614 §14] 128.041[1977 c.614 §9; repealed by 2005 c.348 §128] 128.045[1977 c.614 §11; repealed by 2005 c.348 §128] 128.047[1993 c.226 §3; repealed by 2005 c.348 §128] 128.050[Repealed by 1977 c.614 §14] 128.051[1977 c.614 §12; repealed by 2005 c.348 §128] 128.055[Formerly 128.010; repealed by 2005 c.348 §128] 128.057[Formerly 128.020; 1979 c.382 §1; repealed by 1995 c.157 §26] 128.060[Amended by 1973 c.827 §19; repealed by 1977 c.614 §14] 128.061[1969 c.267 §3; formerly 128.025; repealed by 1979 c.382 §2] 128.065[Formerly 128.030; 1995 c.157 §22; repealed by 2005 c.348 §128] 128.070[Repealed by 1973 c.506 §46] 128.075[1973 c.367 §16; renumbered 128.595] 128.080[Amended by 1973 c.177 §2; repealed by 1973 c.506 §46] 128.085Limitations on trustee’s administration of “private foundation” trust 128.090Limitations on trustee’s administration of “split-interest” trust 128.095Trustee may amend governing instrument of “private foundation” or “split-interest” trust with prior consent of Attorney General and benefited organizations 128.100Authority of fiduciary to deposit securities in clearing corporation 128.102[1993 c.226 §5; 1997 c.659 §1; repealed by 2005 c.348 §128] 128.110[Amended by 1979 c.284 §108; repealed by 1981 c.66 §8] 128.115[1981 c.66 §1; repealed by 2005 c.348 §128] 128.120[Repealed by 1981 c.66 §8] 128.125[1981 c.66 §2; repealed by 2005 c.348 §128] 128.130[Amended by 1979 c. 284 §109; repealed by 1981 c.66 §8] 128.135[1981 c.66 §3; 1993 c.222 §6; 2003 c.279 §33a; repealed by 2005 c.348 §128] 128.140[Repealed by 1981 c.66 §8] 128.145[1981 c.66 §4; repealed by 2005 c.348 §128] 128.150[Repealed by 1981 c.66 §8] 128.155[1981 c.66 §5; 1991 c.331 §42; 1997 c.631 §415; repealed by 2005 c.348 §128] 128.160[Repealed by 1981 c.66 §8] 128.165[1981 c.66 §6; repealed by 2005 c.348 §128] 128.170[Repealed by 1981 c.66 §8] 128.175[1981 c.66 §7; repealed by 2005 c.348 §128] 128.177[1993 c.222 §2; repealed by 2005 c.348 §128] 128.179[1993 c.222 §3; repealed by 2005 c.348 §128] 128.180[Repealed by 1981 c.66 §8] 128.181[1993 c.222 §4; repealed by 2005 c.348 §128] 128.183[1993 c.222 §5; repealed by 2005 c.348 §128] 128.185[1993 c.222 §7; repealed by 2005 c.348 §128] 128.190[Repealed by 1981 c.66 §8] 128.192[1995 c.157 §1; repealed by 2005 c.348 §128] 128.194[1995 c.157 §2; repealed by 2005 c.348 §128] 128.196[1995 c.157 §3; repealed by 2005 c.348 §128] 128.198[1995 c.157 §4; repealed by 2005 c.348 §128] 128.200[Repealed by 1981 c.66 §8] 128.202[1995 c.157 §5; repealed by 2005 c.348 §128] 128.204[1995 c.157 §§6,7; repealed by 2005 c.348 §128] 128.206[1995 c.157 §8; repealed by 2005 c.348 §128] 128.208[1995 c.157 §9; repealed by 2005 c.348 §128] 128.210[Repealed by 1981 c.66 §8] 128.212[1995 c.157 §10; repealed by 2005 c.348 §128] 128.214[1995 c.157 §11; repealed by 2005 c.348 §128] 128.216[1995 c.157 §§12,14; repealed by 2005 c.348 §128] 128.218[1995 c.157 §13; repealed by 2005 c.348 §128] 128.220[Repealed by 1981 c.66 §8] 128.230[Repealed by 1981 c.66 §8] 128.232[1995 c.679 §1; repealed by 2005 c.348 §128] 128.234[1995 c.679 §2; repealed by 2005 c.348 §128] 128.236[1995 c.679 §3; repealed by 2005 c.348 §128] 128.238[1995 c.679 §4; repealed by 2005 c.348 §128] 128.240[Repealed by 1981 c.66 §8] 128.242[1995 c.679 §5; repealed by 2005 c.348 §128] 128.244[1995 c.679 §6; repealed by 2005 c.348 §128] 128.246[1995 c.679 §7; repealed by 2005 c.348 §128] 128.250[Amended by 1979 c.284 §110; repealed by 1981 c.66 §8] 128.255[1997 c.151 §4; repealed by 2005 c.348 §128] 128.256[2001 c.593 §1; 2005 c.348 §99; renumbered 130.350 in 2005] 128.258[2001 c.593 §1a; 2005 c.348 §100; renumbered 130.355 in 2005] 128.260[Amended by 1979 c.284 §111; repealed by 1981 c.66 §8] 128.262[2001 c.593 §2; renumbered 130.360 in 2005] 128.264[2001 c.593 §3; 2005 c.348 §101; renumbered 130.365 in 2005] 128.266[2001 c.593 §4; 2003 c.14 §45; 2005 c.348 §102; renumbered 130.370 in 2005] 128.268[2001 c.593 §5; renumbered 130.375 in 2005] 128.270[Repealed by 1981 c.66 §8] 128.272[2001 c.593 §6; 2005 c.348 §103; renumbered 130.380 in 2005] 128.274[2001 c.593 §7; renumbered 130.385 in 2005] 128.276[2001 c.593 §7a; renumbered 130.390 in 2005] 128.278[2001 c.593 §8; renumbered 130.395 in 2005] 128.280[2001 c.593 §9; 2005 c.348 §121; renumbered 130.400 in 2005] 128.282[2001 c.593 §9a; renumbered 130.405 in 2005] 128.284[2001 c.593 §9b; renumbered 130.410 in 2005] 128.286[2001 c.593 §9c; renumbered 130.415 in 2005] 128.288[2001 c.593 §9d; 2005 c.348 §104; renumbered 130.420 in 2005] 128.290[2001 c.593 §10; 2005 c.348 §105; renumbered 130.425 in 2005] 128.292[2001 c.593 §11; renumbered 130.430 in 2005] 128.294[2001 c.593 §12; 2005 c.348 §106; renumbered 130.435 in 2005] 128.296[2001 c.593 §13; renumbered 130.440 in 2005] 128.298[2001 c.593 §14; renumbered 130.445 in 2005] 128.300[2001 c.593 §15; 2005 c.348 §107; renumbered 130.450 in 2005] 128.305Short title 128.308[2001 c.636 §1; repealed by 2005 c.348 §128] 128.310[1975 c.707 §11; repealed by 2007 c.554 §11] 128.315[1975 c.707 §2; repealed by 2007 c.554 §11] 128.316Definitions for ORS 128.305 to 128.336 128.318Standard of conduct in managing and investing institutional fund 128.320[1975 c.707 §3; 1995 c.79 §47; repealed by 2007 c.554 §11] 128.322Appropriation for expenditure or accumulation of endowment fund; rules of construction 128.325[1975 c.707 §4; repealed by 2007 c.554 §11] 128.326Delegation of management and investment functions 128.328Release or modification of restrictions on management, investment or purpose 128.330[1975 c.707 §5; repealed by 2007 c.554 §11] 128.332Reviewing compliance 128.334Relation to Electronic Signatures in Global and National Commerce Act 128.335[1975 c.707 §6; repealed by 2007 c.554 §11] 128.336Uniformity of application and construction 128.340[1975 c.707 §7; repealed by 2007 c.554 §11] 128.345[1975 c.707 §8; repealed by 2007 c.554 §11] 128.350[1975 c.707 §10; repealed by 2007 c.554 §11] 128.355[1975 c.707 §9; repealed by 2007 c.554 §11] 128.370[2003 c.84 §1; 2005 c.348 §108; renumbered 130.520 in 2005] 128.375[2003 c.84 §2; 2005 c.348 §111; renumbered 130.530 in 2005] 128.378[2003 c.84 §3; 2005 c.348 §112; renumbered 130.535 in 2005] 128.380[2003 c.84 §4; renumbered 130.540 in 2005] 128.382[2003 c.84 §5; renumbered 130.545 in 2005] 128.385[2003 c.84 §6; 2005 c.348 §113; renumbered 130.550 in 2005] 128.388[2003 c.84 §7; 2005 c.348 §114; renumbered 130.555 in 2005] 128.390[2003 c.84 §8; 2005 c.348 §115; renumbered 130.560 in 2005] 128.392[2003 c.84 §9; renumbered 130.565 in 2005] 128.395[2003 c.84 §10; 2005 c.348 §116; renumbered 130.570 in 2005] 128.397[2003 c.84 §11; 2005 c.348 §117; renumbered 130.575 in 2005] 128.398[2003 c.84 §12; 2005 c.22 §99; 2005 c.348 §118; renumbered 130.240 in 2005] 128.400[1987 c.813 §3; 1997 c.631 §416; 2001 c.796 §7; renumbered 97.923 in 2001] 128.405[1987 c.813 §1; 2001 c.796 §16; renumbered 97.925 in 2001] 128.407[1987 c.813 §2; 2001 c.796 §17; renumbered 97.927 in 2001] 128.410[1953 c.639 §1; 1955 c.524 §1; 1959 c.691 §1; 1965 c.611 §14; 1967 c.359 §681; 1979 c.661 §1; repealed by 1987 c.813 §17] 128.412[1959 c.691 §2; 1967 c.359 §682; 1985 c.207 §23; 1987 c.813 §11; 1991 c.331 §43; 1997 c.631 §417; 1999 c.68 §1; 2001 c.796 §8; renumbered 97.929 in 2001] 128.414[1993 c.467 §3; 1995 c.325 §2; 2001 c.796 §9; renumbered 97.931 in 2001] 128.415[1953 c.639 §2; 1955 c.524 §2; 1959 c.691 §3; 1981 c.484 §1; 1985 c.207 §24; 1987 c.214 §1; 1987 c.813 §12; 1989 c.171 §14; 2001 c.796 §10; renumbered 97.937 in 2001] 128.420[1981 c.719 §9a; 1983 c.810 §26; 1987 c.158 §18b; repealed by 1987 c.813 §17] 128.421[1987 c.813 §4; 1989 c.1048 §3; 2001 c.796 §11; renumbered 97.939 in 2001] 128.423[1987 c.813 §5; 1989 c.1048 §1; 1995 c.720 §1; 2001 c.796 §12; renumbered 97.941 in 2001] 128.425[1987 c.813 §6; 1989 c.1048 §2; 1995 c.720 §2; 2001 c.796 §13; renumbered 97.943 in 2001] 128.430[1987 c.813 §7; 2001 c.796 §14; renumbered 97.944 in 2001] 128.435[1987 c.813 §8; 1995 c.144 §8; 2001 c.796 §15; renumbered 97.945 in 2001] 128.440[1987 c.813 §8a; 2001 c.796 §18; renumbered 97.946 in 2001] 128.460[1971 c.182 §1; repealed by 2005 c.348 §128] 128.470[1971 c.182 §2; repealed by 2005 c.348 §128] 128.480[1971 c.182 §3; repealed by 2005 c.348 §128] 128.490[1971 c.182 §4; repealed by 2005 c.348 §128] 128.500[1971 c.182 §5; repealed by 2005 c.348 §128] 128.510Definitions for ORS 128.520 128.520Employees’ trust may be in perpetuity; accumulation of income 128.560“Business trust” described 128.565Business trust permitted 128.570Business trusts and trustees not subject to bank and trust company regulations 128.573Forms; rules 128.575Filing with Office of Secretary of State required; fees; amendments 128.580Business trusts subject to certain corporate laws 128.585Personal liability of trustees, shareholders or beneficiaries of business trust 128.590Filing of trust instrument as conclusive evidence of compliance with laws; exception 128.595Annual report; due date; content; notice of requirement; effect of failure to file 128.597Inactivation of business trust 128.599Reinstatement of business trust following inactivation 128.600Filing, service, copying and certification fees 128.610Short title 128.620Definitions for ORS 128.610 to 128.769 128.630Application of ORS 128.610 to 128.769 128.640Exemptions from application of ORS 128.610 to 128.769 128.650Register of charitable organizations; authority of Attorney General to maintain register 128.660Filing of registration statement and articles of incorporation or other instrument with Attorney General 128.670Filing of reports; rules; fees; authority of Attorney General relating to reports; civil penalty 128.675Violations of ORS 128.610 to 128.769; action by Attorney General for violation; fees; penalties 128.680Investigatory authority of Attorney General 128.690Order for attendance by Attorney General; effect 128.700[1963 c.583 §12; repealed by 1973 c.794 §34] 128.710Enforcement; jurisdiction of court 128.720Copies of certain documents and notice to be provided Attorney General 128.730List of certain claims for exemptions from taxation to be provided Attorney General 128.735Attorney fees in action to enforce fiduciary or other duty 128.740[1963 c.583 §17; 1971 c.589 §12; repealed by 1975 c.388 §8] 128.750Uniformity of interpretation 128.760Issuance of disqualification order by Attorney General; hearing request; legal effect 128.763Disclosure of disqualification required in solicitations; legal effect of failure to disclose 128.766Publication of disqualified organizations on Internet; report to Department of Revenue 128.769Rules 128.801Definitions for ORS 128.801 to 128.898 128.802Registration of professional fund raising firms required; fee; renewal; notice of change of information 128.804Fund raising notice; contents 128.805[1971 c.589 §14; 1981 c.593 §12; repealed by 1985 c.729 §1; 1985 c.730 §15] 128.806[1985 c.729 §4; repealed by 1991 c.532 §26] 128.807Required submission of financial plan to nonprofit beneficiary 128.809Required disclosure of agency by solicitors 128.810[1959 c.599 §1; repealed by 1967 c.359 §704] 128.811[1985 c.729 §5; repealed by 1991 c.532 §26] 128.812Required submission of financial report after campaign 128.813[1975 c.388 §2; repealed by 1985 c.729 §1; 1985 c.730 §15] 128.814Presumption of breach of fiduciary duty by officer or director of nonprofit beneficiary 128.815[1971 c.589 §14a; 1981 c.593 §13; repealed by 1985 c.729 §1; 1985 c.730 §15] 128.816[1985 c.729 §6; repealed by 1991 c.532 §26] 128.820[1959 c.599 §§2,3,4,5; 1967 c.359 §125; renumbered 731.704] 128.821Registration of commercial fund raising firms required; fee; renewal; notice of change in information 128.823Designation of amount to be paid to beneficiaries; manner of specification; minimum amount payable 128.824Disclosures required in commercial fund raising solicitations 128.825[1971 c.589 §15; repealed by 1985 c.729 §1; 1985 c.730 §15] 128.826Commercial fund raising contracts and notice; filing 128.830[1959 c.599 §7; 1967 c.359 §126; renumbered 731.708] 128.831[1985 c.729 §9; repealed by 1991 c.532 §26] 128.835[1971 c.589 §16; 1981 c.593 §14; repealed by 1985 c.729 §1; 1985 c.730 §15] 128.836[1985 c.729 §10; repealed by 1991 c.532 §26] 128.840[1959 c.599 §6; repealed by 1967 c.359 §704] 128.841Commercial fund raising firm financial reports; contents; filing 128.845[1971 c.589 §17; 1981 c.593 §15; repealed by 1985 c.729 §1; 1985 c.730 §15] 128.846Maintenance of records by commercial fund raising firm 128.848Accountings required of commercial coventurer 128.850[1959 c.599 §8; 1967 c.359 §128; renumbered 731.716] 128.851[1985 c.729 §13; repealed by 1991 c.532 §26] 128.855[1975 c.388 §3; 1977 c.467 §1; repealed by 1985 c.729 §1; 1985 c.730 §15] 128.856Written consent by beneficiary to use of name 128.860[1959 c.599 §11; 1967 c.359 §129; renumbered 731.720] 128.861Written consent required for representations about use of tickets 128.865[1975 c.388 §4; 1981 c.897 §37; repealed by 1985 c.729 §1; 1985 c.730 §15] 128.866Injunction by Attorney General 128.870[1959 c.599 §12; repealed by 1967 c.359 §704] 128.871Denial or revocation of registration 128.876Rules 128.880[1959 c.599 §9; 1967 c.359 §130; renumbered 731.724] 128.881Deposit of fees and penalties; use 128.886False or misleading representations prohibited 128.890[1959 c.599 §10; repealed by 1967 c.359 §704] 128.891Prohibited representations; written notice 128.893Use of in-state address 128.896[1985 c.730 §13; 1991 c.734 §8; renumbered 128.899 in 1991] 128.898Short title 128.899[Formerly 128.896; repealed by 2014 c.8 §8] 128.990[1959 c.639 §3; subsections (2), (3), (4) enacted as 1971 c.589 §18; 1975 c.388 §7; 1981 c.593 §16; 1985 c.729 §21; 1987 c.813 §13; renumbered 97.992 in 2001] 128.991[1987 c.813 §9; 1993 c.467 §4; 1995 c.325 §3; 2001 c.796 §19; renumbered 97.994 in 2001] 128.992Penalties for ORS 128.610 to 128.769 128.993Penalty for signing false document 128.995Penalties for ORS 128.801 to 128.898

Chapter 128 — Trusts; Charitable Activities

ORS 128.585 Personal liability of trustees, shareholders or beneficiaries of business trust

The trustees, shareholders or beneficiaries of a business trust shall not, as such, be personally liable for any obligations of such business trust arising after June 25, 1971. Persons becoming trustees, shareholders or beneficiaries after June 25, 1971, shall not be personally liable, as such, for obligations of the business trust existing on June 25, 1971.

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2026-01-01

2025 Oregon Revised Statutes — official online source