Oregon Statutes 128.640 – Exemptions from application of ORS 128.610 to 128.769
(1) ORS § 128.610 to 128.769 do not apply to the United States, any state, territory or possession of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or to any of their agencies or governmental subdivisions.
Terms Used In Oregon Statutes 128.640
- 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
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Trustee: A person or institution holding and administering property in trust.
- United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100
(2) ORS § 128.650 to 128.670 and 128.720 do not apply to:
(a) Any religious corporation sole or other religious corporation or organization which holds property for religious purposes, or to any officer, director or trustee thereof who holds property for like purposes;
(b) A cemetery that is registered with the State Mortuary and Cemetery Board under ORS § 692.275 or a historic cemetery listed with the Oregon Commission on Historic Cemeteries under ORS § 97.782; or
(c) A trustee that holds property for charitable purposes in the event that the sole beneficiary of a charitable remainder trust serves as trustee. [1963 c.583 § 5; 1971 c.589 § 4; 1981 c.593 § 4; 1985 c.730 § 7; 1989 c.334 § 2; 1999 c.731 § 10; 2003 c.173 § 8; 2016 c.106 § 40]