(1) In addition to the methods of termination prescribed by ORS 130.200, 130.205, 130.210 and 130.215, a trust terminates:
(a) To the extent the trust is revoked or expires pursuant to the terms of the trust;
(b) If no purpose of the trust remains to be achieved; or
(c) To the extent one or more of the purposes of the trust have become unlawful, contrary to public policy or impossible to achieve.
(2) A proceeding to approve or disapprove a proposed modification or termination under ORS 130.200, 130.205, 130.210, 130.215, 130.220 and 130.225, or trust combination or division under ORS 130.230, may be commenced by a trustee or beneficiary. A proceeding to approve or disapprove a proposed modification or termination under ORS 130.200 may be commenced by the settlor. The settlor of a charitable trust may maintain a proceeding to modify the trust under ORS 130.210. [2005 c.348 §30]
Section: Previous 130.160 130.165 130.170 130.175 130.180 130.185 130.190 130.195 130.200 130.205 130.210 130.215 130.220 130.225 130.230 NextLast modified: August 7, 2008