Oregon Code § 732.240·Enacted ·Last updated March 01, 2026
Statute Text
Trusts
of life insurance proceeds.
(1) Any domestic insurer may hold in trust the proceeds of any life insurance
policy issued by it. Such a trust shall be upon such terms and subject to such
limitations as to revocation by the policyholder and control by the beneficiary
thereunder as are agreed to in writing by the insurer and the policyholder.
(2) Trust
provisions authorized by this section shall in no manner subject the insurer to
any of the provisions of the laws of this state relating to banks or trust
companies.
(3) The forms of
such trust agreements shall be first submitted to and approved by the Director
of the Department of Consumer and Business Services. [Formerly 739.410]
Plain English Explanation
This Oregon statute addresses Trusts
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 732.240
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Trusts
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