Oregon Statutes 711.505 – Liability of fiduciary as stockholder; liability of estate and funds
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A person holding stock of an institution as a fiduciary, as collateral security or in pledge, is not personally subject to any liability as a stockholder. The person pledging the stock is liable as a stockholder. The estate and funds in the hands of the fiduciary are liable to the same extent as the testator, intestate, protected person or person interested in the trust fund would be liable if able to act and hold the stock in the name of that person. [Amended by 1973 c.797 § 267; 1973 c.823 § 146; 1974 c.36 § 27]
Terms Used In Oregon Statutes 711.505
- Fiduciary: A trustee, executor, or administrator.
- Intestate: Dying without leaving a will.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Testator: A male person who leaves a will at death.