Chapter 94 — Real Property Development
ORS 94.867 Judicial declaration of failure in management
A court of competent jurisdiction, upon petition by timeshare owners constituting at least 10 percent of the total number of timeshare owners in a timeshare plan, may declare a failure in the management of the timeshare plan and timeshare property and appoint a trustee to assume the duties of a managing entity for the timeshare plan, if the court finds that:
The rights of the timeshare owners under the timeshare instrument will be substantially impaired if a trustee is not appointed; and
No reasonable alternative exists to appointment of a trustee to perform the functions of a managing entity.
The court may attach such conditions and terms to its appointment of a trustee under subsection (1) of this section as the court considers necessary to protect the rights of timeshare owners under the timeshare instrument.
The trustee shall send a copy of the court’s decision to the Real Estate Commissioner.
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Provenance
2025 Oregon Revised Statutes — official online source
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Version history
Prior statutory text is not available in the ingested published editions. Consult an earlier official ORS edition or the cited Oregon Laws chapter.
2025 Oregon Revised Statutes — official online source · active · operative text
Official source