Oregon Code § 673.815·Enacted ·Last updated March 01, 2026
Statute Text
Custodial duties; standards.
(1) An exchange facilitator shall act as a custodian for all exchange funds and
shall invest the exchange funds only in investments that:
(a) Meet a
prudent investor standard; and
(b) Satisfy the
investment goals of liquidity and preservation of principal.
(2) An exchange
facilitator fails to invest exchange funds according to a prudent investor
standard if:
(a) The exchange
facilitator knowingly commingles exchange funds with the exchange facilitators
operating accounts; or
(b) Exchange
funds are loaned or otherwise transferred to a person or entity, other than a
financial institution, that is an affiliate of or otherwise related to the
exchange facilitator, unless the exchange funds are transferred from an
exchange facilitator to an exchange accommodation titleholder in accordance
with a qualified exchange accommodation agreement.
(3) Exchange
funds are not subject to execution or attachment in any claim against the
exchange facilitator.
(4) An exchange
facilitator may not knowingly keep moneys or cause moneys to be kept in a
financial institution under a name that designates the moneys as belonging to a
client unless the moneys belong to the client and the client entrusted the
moneys to the exchange facilitator. [2013 c.392 §4]