71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
 
HA to HB 2739
 
LC 2746/HB 2739-1
 
                       HOUSE AMENDMENTS TO
                         HOUSE BILL 2739
 
                    By COMMITTEE ON JUDICIARY
 
                            April 20
 
  Delete lines 4 through 21 of the printed bill and insert:
  '  { +  SECTION 1. + }  { + (1) Any person may establish a pet
trust for the care of designated domestic or pet animals. A pet
trust may provide for the care of individually named animals or
for a class of animals, but any animal provided for under the
trust must be living at the time of the trustor's death. Wills
and other instruments shall be liberally construed in favor of
finding the creation of a pet trust, and there is a presumption
against merely precatory or honorary disposition on behalf of
domestic and pet animals.
  ' (2) The terms and conditions of a pet trust may be enforced
by an individual designated for that purpose in the trust
instrument. If the trust instrument does not designate a person
to enforce the terms and conditions of the pet trust, the circuit
court may appoint a person for that purpose. Reasonable
compensation for a person appointed by the court may be paid from
the assets of the trust.
  ' (3) If a trustee is not designated in a pet trust or the
person designated to act as trustee is unwilling or unable to
serve, the circuit court shall name a trustee. A pet trust may
designate one or more persons to serve as successor trustee. The
court may order the transfer of the property to a person other
than the designated trustee or successor trustee if the transfer
is required to ensure that the trustor's intent is carried out.
The court may also make such other orders as the court deems
necessary to carry out the intent of the trustor and the purposes
of this section.
  ' (4) Upon termination of a pet trust, the trustee shall
transfer the unexpended trust property in the following order:
  ' (a) As directed by the trust instrument;
  ' (b) If the trust was created in a nonresiduary clause in the
trustor's will, under the residuary clause in the trustor's will;
or
  ' (c) If paragraphs (a) and (b) of this subsection do not
apply, to the persons to whom the estate of the trustor would
pass by intestate succession under ORS 112.025 to 112.055.
  ' (5) Except as ordered by a circuit court or required by the
trust instrument, no filing, report, registration, periodic
accounting, separate maintenance of funds, appointment or fee is
required by reason of the existence of the fiduciary relationship
of the trustee.
  ' (6) A pet trust terminates as provided by the terms of the
trust instrument. If the trust instrument makes no provision for
termination of the trust, the trust terminates when no living
animal is covered by the trust or when all trust assets are
exhausted, whichever occurs first. + } ' .
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