(a) Selecting an agent;
(b) Establishing the scope and terms of the delegation, consistent with the purposes of the institution and the institutional fund; and
(c) Periodically reviewing the agent’s actions in order to monitor the agent’s performance and compliance with the scope and terms of the delegation.
(2) In performing a delegated function, an agent owes a duty to the institution to exercise reasonable care to comply with the scope and terms of the delegation.
(3) An institution that complies with subsection (1) of this section is not liable for the decisions or actions of an agent to which the function was delegated.
(4) By accepting delegation of a management or investment function from an institution that is subject to the laws of this state, an agent submits to the jurisdiction of the courts of this state in all proceedings arising from or related to the delegation or the performance of the delegated function.
(5) An institution may delegate management and investment functions to its committees, officers or employees as authorized by law of this state other than ORS 128.305 to 128.336. [2007 c.554 §4]
Structure 2021 Oregon Revised Statutes
Volume : 03 - Landlord-Tenant, Domestic Relations, Probate
Chapter 128 - Trusts; Charitable Activities
Section 128.001 - Limitations on accepting payment for preparation of trust.
Section 128.090 - Limitations on trustee’s administration of "split-interest" trust.
Section 128.100 - Authority of fiduciary to deposit securities in clearing corporation.
Section 128.316 - Definitions for ORS 128.305 to 128.336.
Section 128.318 - Standard of conduct in managing and investing institutional fund.
Section 128.326 - Delegation of management and investment functions.
Section 128.328 - Release or modification of restrictions on management, investment or purpose.
Section 128.575 - Filing with Office of Secretary of State required; fees; amendments.
Section 128.597 - Inactivation of business trust.
Section 128.599 - Reinstatement of business trust following inactivation.
Section 128.620 - Definitions for ORS 128.610 to 128.769.
Section 128.630 - Application of ORS 128.610 to 128.769.
Section 128.640 - Exemptions from application of ORS 128.610 to 128.769.
Section 128.710 - Enforcement; jurisdiction of court.
Section 128.735 - Attorney fees in action to enforce fiduciary or other duty.
Section 128.801 - Definitions for ORS 128.801 to 128.898.
Section 128.804 - Fund raising notice; contents.
Section 128.807 - Required submission of financial plan to nonprofit beneficiary.
Section 128.824 - Disclosures required in commercial fund raising solicitations.
Section 128.826 - Commercial fund raising contracts and notice; filing.
Section 128.846 - Maintenance of records by commercial fund raising firm.
Section 128.861 - Written consent required for representations about use of tickets.
Section 128.866 - Injunction by Attorney General.
Section 128.871 - Denial or revocation of registration.
Section 128.886 - False or misleading representations prohibited.
Section 128.891 - Prohibited representations; written notice.