128.001 Limitations on accepting payment for preparation of trust
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128.001 Limitations on accepting payment for preparation of trust.
(1)Except as provided in this section, a person may not accept anything of value in exchange for the preparation of a trust.
(2)Subsection
(1)of this section does not apply to an attorney who charges and accepts a fee for the preparation of a trust for a client in the course of representing that client.
(3)Subsection
(1)of this section does not apply to any trust company or financial institution as defined in ORS chapter 706.
(4)Subsection
(1)of this section does not apply to a resulting or constructive trust, a business trust that provides for certificates to be issued to the beneficiary, an investment trust, a voting trust, a security instrument, a trust created by the judgment of a court, a liquidation trust, a trust for the primary purpose of paying dividends, interests, interest coupons, salaries, wages, pensions, profits or employee benefits of any kind, an instrument in which a person is nominee or escrowee for another person or a trust created in deposits in any financial institution.
(5)Nothing in this section authorizes any person to engage in the practice of law in violation of ORS 9.160. [1997 c.806 §1; 2003 c.576 §383]