Oregon Statutes 126.866 – Petition for accounting by custodian, determination of responsibility
(1) A beneficiary who has attained 14 years of age, the beneficiary’s guardian or legal representative, an adult member of the beneficiary’s family, a transferor or a transferor’s legal representative may petition the court:
Terms Used In Oregon Statutes 126.866
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
(a) For an accounting by the custodian or the custodian’s legal representative; or
(b) For a determination of responsibility, as between the custodial property and the custodian personally, for claims against the custodial property unless the responsibility has been adjudicated in an action under ORS § 126.859 to which the beneficiary or the beneficiary’s legal representative was a party.
(2) A successor custodian may petition the court for an accounting by the predecessor custodian.
(3) The court, in a proceeding under ORS § 126.805 to 126.886 or in any other proceeding, may require or permit the custodian or the custodian’s legal representative to account.
(4) If a custodian is removed under ORS § 126.862 (6), the court shall require an accounting and order delivery of the custodial property and records to the successor custodian and the execution of all instruments required for transfer of the custodial property. [1985 c.665 § 20; 2005 c.349 § 14]