75th OREGON LEGISLATIVE ASSEMBLY--2009 Regular Session
Enrolled
House Bill 2360
Sponsored by Representative ROBLAN (at the request of John
Whitty) (Presession filed.)
CHAPTER ................
AN ACT
Relating to trusts; creating new provisions; and amending ORS
130.355, 130.370 and 130.860.
Be It Enacted by the People of the State of Oregon:
SECTION 1. ORS 130.355 is amended to read:
130.355. (1) At any time after the death of a settlor of a
trust described in ORS 130.350 (2), a trustee of the trust may
petition the probate court to determine the claims of creditors
of the settlor. A petition under this section must include all of
the following information to the extent known by the trustee:
(a) The settlor's name, { + the settlor's + } date of birth,
{ + the settlor's + } date and place of death and { + the last
four digits of the settlor's + } Social Security number.
(b) The name of the trustee.
(c) The address at which claims must be presented.
(d) The name of the trust, if any, and the date of the trust,
including the dates of any amendments.
(e) The facts establishing venue in the county where the
petition is being filed.
(2) The clerk of the court shall charge and collect in advance
from the trustee the filing fee required from a plaintiff under
ORS 21.110 (1).
(3) A proceeding under this section may be brought only:
(a) In the county where the settlor had domicile or a place of
abode at the time of death;
(b) In any county where assets of the trust were located at the
time of death or are located at the time the proceeding is
commenced; or
(c) In the county where the settlor died.
(4) The court has personal jurisdiction over a trustee that
files a petition under this section, whether the trustee is a
resident or nonresident of this state, for the purposes of any
proceeding relating to the trust that may be instituted by an
interested person.
SECTION 2. ORS 130.370 is amended to read:
130.370. (1) Within three months after a petition is entered in
the register of the court under ORS 130.355, or within such
longer time as the court allows, a trustee must make reasonably
diligent efforts to investigate the financial records and affairs
of the settlor and to take such further actions as are reasonably
necessary to ascertain the identity and address of each person
who has or asserts a claim against the trust estate. The court
Enrolled House Bill 2360 (HB 2360-INTRO) Page 1
shall allow the trustee as much time as requested by the trustee
for the purpose of determining the claims against the trust
estate. The trustee must thereafter cause to be delivered or
mailed a notice containing the information required in subsection
(2) of this section to each person known by the trustee to have
or to assert a claim against the trust estate and to the
Department of Human Services. Notice under this section is not
required for any claim that has already been presented, accepted
or paid in full or on account of a claim that is merely
conjectural.
(2) The notice required by this section must include:
(a) The name { + of the settlor + } and { + the last four
digits of the settlor's + } Social Security number { - of the
settlor - } ;
(b) The name of the trustee and the address at which claims
must be presented;
(c) A statement that claims against the trust estate that are
not presented to the trustee within 30 days after the date of the
notice may be barred;
(d) The date of the notice, which shall be the date on which
the notice is delivered or mailed; and
(e) A copy of the settlor's death certificate.
SECTION 3. ORS 130.860 is amended to read:
130.860. (1) A person who is not a beneficiary and who proposes
to deal with the trustee of a trust may require that all trustees
execute and furnish to the person a certification of trust.
(2) The certification of trust shall contain the following
information:
(a) That the trust exists and the date the trust instrument was
executed;
(b) The identity of the settlor;
(c) The identity and address of the currently acting trustee;
(d) The powers of the trustee;
(e) The revocability or irrevocability of the trust and the
identity of any person holding a power to revoke the trust;
(f) The existence or nonexistence of any power to modify or
amend the trust and the identity of any person holding a power to
modify or amend the trust;
(g) The authority of cotrustees to sign or otherwise
authenticate and whether all cotrustees or fewer than all are
required in order to exercise powers of the trustee;
(h) { - The trust's taxpayer identification number,
whether - } { + The last four digits of + } the settlor's
Social Security number { + , + } or { - an - } { + the
trust's + } employer identification number;
(i) The manner of taking title to trust property; and
(j) The state, country or other jurisdiction under the laws of
which the trust was established.
(3) A certification of trust must be signed or otherwise
authenticated by all the trustees.
(4) A certification of trust must state that the trust has not
been revoked, modified or amended in any manner that would cause
the representations contained in the certification of trust to be
incorrect.
(5) A certification of trust need not contain the dispositive
terms of a trust.
(6) A recipient of a certification of trust may not require the
trustee to furnish the entire trust instrument, but may require
the trustee to furnish copies of excerpts from the original trust
instrument and later amendments that designate the trustee and
Enrolled House Bill 2360 (HB 2360-INTRO) Page 2
confer upon the trustee the power to act in the pending
transaction.
(7) A person may require that the certification of trust:
(a) Include facts other than those listed in this section that
are reasonably related to the administration of the trust;
(b) Be executed by one or more of the settlors;
(c) Be executed by one or more of the beneficiaries if the
certification is reasonably related to a pending or contemplated
transaction with the person; and
(d) Be adapted to the person's own standard form, which may be
incorporated in an account signature agreement or other account
document.
(8) A certification of trust may contain the identity of any
successor trustee or trustees and the circumstances under which
any successor trustee or trustees will assume trust powers.
(9)(a) A person who acts in reliance upon a certification of
trust without actual knowledge that the representations contained
in the certification are incorrect is not liable to any person
for so acting and may assume without inquiry the existence of the
facts contained in the certification. A person does not have
actual knowledge that the representations contained in the
certification are incorrect solely by reason of having a copy of
all or part of the trust instrument.
(b) Any transaction, and any lien created by that transaction,
is enforceable against a trust if the transaction is entered into
by a person acting in reliance on a certification of trust
containing the information set forth in this section without
actual knowledge that the representations contained in the
certification are incorrect.
(c) If a person has actual knowledge that the trustee or
trustees are acting outside the scope of the trust, and the
actual knowledge was acquired by the person before entering into
the transaction or making a binding commitment to do so, the
transaction is not enforceable against the trust.
(10) A person is not liable for acting in reliance on a
certification of trust solely because the certification fails to
contain all the information required in this section.
(11) This section does not limit the rights of the
beneficiaries of the trust against a trustee.
(12) A person's failure to demand or refusal to accept and rely
solely upon a certification of trust does not affect the
protection provided the person by ORS 130.855, and no inference
as to whether the person has acted in good faith may be drawn
from the failure to demand or the refusal to accept and rely
solely upon a certification.
(13) This section applies to all trusts, whether established
under the laws of this state or under the law of another state,
country or other jurisdiction.
SECTION 4. { + (1) The amendments to ORS 130.355 by section 1
of this 2009 Act apply only to petitions filed under ORS 130.355
on or after the effective date of this 2009 Act.
(2) The amendments to ORS 130.370 by section 2 of this 2009 Act
apply only to notices given under ORS 130.370 on or after the
effective date of this 2009 Act.
(3) The amendments to ORS 130.860 by section 3 of this 2009 Act
apply only to certifications of trust furnished under ORS 130.860
on or after the effective date of this 2009 Act. + }
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Enrolled House Bill 2360 (HB 2360-INTRO) Page 3
Passed by House February 24, 2009
...........................................................
Chief Clerk of House
...........................................................
Speaker of House
Passed by Senate May 19, 2009
...........................................................
President of Senate
Enrolled House Bill 2360 (HB 2360-INTRO) Page 4
Received by Governor:
......M.,............., 2009
Approved:
......M.,............., 2009
...........................................................
Governor
Filed in Office of Secretary of State:
......M.,............., 2009
...........................................................
Secretary of State
Enrolled House Bill 2360 (HB 2360-INTRO) Page 5