Oregon Revised Statutes Chapter 130 § 130.725 — UTC

UTC 816. Specific powers of trustee. Without limiting the authority conferred by ORS 130.720, a trustee may do any of the following: (1) Collect trust property and accept or reject additions to the trust property from a settlor or any other person. (2) Acquire or sell property, for cash or on credit, at public or private sale. (3) Exchange, partition or otherwise change the character of trust property. (4) Deposit trust money in an account in a financial institution, including a financial institution operated by the trustee, if the deposit is adequately insured or secured. (5) Borrow money, with or without security, to be repaid from trust assets or otherwise, and advance money for the protection of the trust and for all expenses, losses and liabilities sustained in the administration of the trust or because of the holding or ownership of any trust assets. Money may be borrowed under this subsection from any lender, including a financial institution operated by or affiliated with the trustee. A trustee is entitled to be reimbursed out of the trust property or from property that has been distributed from the trust, with reasonable interest, for an advance of money under this subsection. (6) Continue operation of any proprietorship, partnership, limited liability company, business trust, corporation or other form of business or enterprise in which the trust has an interest, and take any action that may be taken by shareholders, members or property owners, including merging, dissolving or otherwise changing the form of business organization or contributing additional capital. (7) Exercise the rights of an absolute owner of stocks and other securities, including the right to: (a) Vote, or give proxies to vote, with or without power of substitution, or enter into or continue a voting trust agreement; (b) Hold a security in the name of a nominee or in other form without disclosure of the trust so that title may pass by delivery; (c) Pay calls, assessments and other sums chargeable or accruing against the securities, and sell or exercise stock subscription or conversion rights; and (d) Deposit the securities with a depository or other financial institution. (8) Construct, repair, alter or otherwise improve buildings or other structures on real property in which the trust has an interest, demolish improvements, raze existing or erect new party walls or buildings on real property in which the trust has an interest, subdivide or develop land, dedicate land to public use or grant public or private easements, and make or vacate plats and adjust boundaries. (9) Enter into a lease for any purpose as lessor or lessee, including a lease or other arrangement for exploration and removal of natural resources, with or without the option to purchase or renew, even though the period of the lease extends beyond the duration of the trust. (10) Grant an option involving a sale, lease or other disposition of trust property or acquire an option for the acquisition of property, even though the option is exercisable after the trust is terminated, and exercise an option so acquired. (11) Insure the property of the trust against damage or loss and insure the trustee, the trustee’s agents, and beneficiaries against liability arising from the administration of the trust. (12) Abandon or decline to administer property of no value or property of a value that is not adequate to justify its collection or continued administration. (13) Avoid possible liability for violation of environmental law by: (a) Inspecting or investigating property the trustee holds or has been asked to hold, or property owned or operated by an organization in which the trustee holds or has been asked to hold an interest, for the purpose of determining the application of environmental law with respect to the property; (b) Taking action to prevent, abate or otherwise remedy any actual or potential violation of any environmental law affecting property held directly or indirectly by the trustee, whether taken before or after the assertion of a claim or the initiation of governmental enforcement; (c) Declining to accept property into trust or disclaiming any power with respect to property that is or may be burdened with liability for violation of environmental law; (d) Compromising claims against the trust that may be asserted for an alleged violation of environmental law; and (e) Paying the expense of any inspection, review, abatement or remedial action to comply with environmental law. (14) Pay or contest any claim, settle a claim by or against the trust, and release, in whole or in part, a claim belonging to the trust. (15) Pay taxes, assessments, compensation of the trustee and of employees and agents of the trust, and other expenses incurred in the administration of the trust. (16) Exercise elections available under federal, state and local tax laws. (17) Select a mode of payment under any employee b