2021 Oregon Revised Statutes
Chapter 129 - Uniform Principal and Income Act
Section 129.380 - UPIA 414. Derivatives and options.


(2) To the extent that a trustee does not account under ORS 129.308 for transactions in derivatives, the trustee shall allocate to principal receipts from and disbursements made in connection with those transactions.
(3) If a trustee grants an option to buy property from the trust, whether or not the trust owns the property when the option is granted, grants an option that permits another person to sell property to the trust or acquires an option to buy property for the trust or an option to sell an asset owned by the trust, and the trustee or other owner of the asset is required to deliver the asset if the option is exercised, an amount received for granting the option must be allocated to principal. An amount paid to acquire the option must be paid from principal. A gain or loss realized upon the exercise of an option, including an option granted to a settlor of the trust for services rendered, must be allocated to principal. [2003 c.279 §23]

Structure 2021 Oregon Revised Statutes

2021 Oregon Revised Statutes

Volume : 03 - Landlord-Tenant, Domestic Relations, Probate

Chapter 129 - Uniform Principal and Income Act

Section 129.200 - UPIA 101. Short title.

Section 129.205 - UPIA 102. Definitions.

Section 129.210 - UPIA 103. Fiduciary duties; general principles.

Section 129.215 - UPIA 104. Trustee’s power to adjust.

Section 129.220 - UPIA 105. Judicial control of discretionary power.

Section 129.225 - Conversion to unitrust.

Section 129.250 - UPIA 201. Determination and distribution of net income.

Section 129.255 - UPIA 202. Distribution to residuary and remainder beneficiaries.

Section 129.270 - UPIA 301. When right to income begins and ends.

Section 129.275 - UPIA 302. Apportionment of receipts and disbursements when decedent dies or income interest begins.

Section 129.280 - UPIA 303. Apportionment when income interest ends.

Section 129.300 - UPIA 401. Character of receipts.

Section 129.308 - UPIA 403. Business and other activities conducted by trustee.

Section 129.310 - UPIA 404. Principal receipts.

Section 129.320 - UPIA 406. Obligation to pay money.

Section 129.325 - UPIA 407. Insurance policies and similar contracts.

Section 129.350 - UPIA 408. Insubstantial allocations not required.

Section 129.355 - UPIA 409. Deferred compensation, annuities and similar payments.

Section 129.360 - UPIA 410. Liquidating asset.

Section 129.365 - UPIA 411. Minerals, water and other natural resources.

Section 129.370 - UPIA 412. Timber.

Section 129.375 - UPIA 413. Property not productive of income.

Section 129.380 - UPIA 414. Derivatives and options.

Section 129.385 - UPIA 415. Asset-backed securities.

Section 129.400 - UPIA 501. Disbursements from income.

Section 129.405 - UPIA 502. Disbursements from principal.

Section 129.410 - UPIA 503. Transfers from income to principal for depreciation.

Section 129.415 - UPIA 504. Transfers from income to reimburse principal.

Section 129.420 - UPIA 505. Income taxes.

Section 129.425 - UPIA 506. Adjustments between principal and income because of taxes.