(1) ORS 126.805 to 126.886 apply to a transfer that refers to ORS 126.805 to 126.886 in the designation under ORS 126.832 (1) by which the transfer is made if at the time of the transfer, the transferor, the beneficiary or the custodian is a resident of this state or the custodial property is located in this state. The custodianship so created remains subject to ORS 126.805 to 126.886 despite a subsequent change in residence of a transferor, the beneficiary or the custodian or the removal of custodial property from this state.
(2) A person designated as custodian under ORS 126.805 to 126.886 is subject to personal jurisdiction in this state with respect to any matter relating to the custodianship.
(3) A transfer that purports to be made and which is valid under the Uniform Transfers to Minors Act, the Uniform Gifts to Minors Act or a substantially similar Act, of another state is governed by the law of the designated state and may be executed and is enforceable in this state if at the time of the transfer, the transferor, the beneficiary or the custodian is a resident of the designated state or the custodial property is located in the designated state. [1985 c.665 §3; 2005 c.349 §2]
Section: Previous 126.660 126.665 126.670 126.675 126.700 126.725 126.805 126.809 126.810 126.812 126.815 126.816 126.817 126.819 126.820 NextLast modified: August 7, 2008