2021 Oregon Revised Statutes
Chapter 709 - Regulation of Trust Business
Section 709.450 - Sale and disposition of securities to pay expenses, costs and claims.


(1) The unpaid charges and expenses described in ORS 709.440; and
(2) Claims established against the deposit. [Amended by 1973 c.797 ยง215]

Structure 2021 Oregon Revised Statutes

2021 Oregon Revised Statutes

Volume : 18 - Financial Institutions, Insurance

Chapter 709 - Regulation of Trust Business

Section 709.005 - Certificate of authority to transact trust business; application; contents; fee; exceptions.

Section 709.015 - Organization as limited liability company.

Section 709.030 - Approval to transact trust business; exceptions; deposit of cash, securities, letter of credit or surety bond with director; amount.

Section 709.040 - Securities eligible for deposit.

Section 709.050 - Trust companies depositing securities guaranteed by mortgage insurance and mortgage participation certificates.

Section 709.080 - Charges for handling securities; collection procedure.

Section 709.120 - Substitution of deposit securities; income of securities deposited.

Section 709.150 - General powers of trust companies.

Section 709.160 - Solicitation and performance of legal business.

Section 709.170 - Establishment of and investment in common trust funds; rules; accounting.

Section 709.175 - Limitation on investment of trust funds; exceptions.

Section 709.190 - Trust department kept separate; records of securities; retention of records.

Section 709.200 - Acquisition or investment of trust property in own name or name of nominee.

Section 709.220 - Handling of funds awaiting investment or distribution; security for use of funds.

Section 709.280 - Loans to directors, officers, employees or affiliates.

Section 709.300 - Transaction of trust business by national bank.

Section 709.330 - Sale or transfer of assets or liabilities; effect on fiduciary relations.

Section 709.350 - Successor trustee upon liquidation or receivership; appointment and qualification; petition by director; applicability of state laws.

Section 709.390 - Discontinuance of trust business; determination of claims against deposit of securities.

Section 709.400 - Order to start court action; publication of order; jurisdiction over securities; notice to trustor; applicability of state laws.

Section 709.420 - Actions or suits on claims; service of summons; preference on calendar.

Section 709.430 - Release or payment of deposit pending suit; distribution of deposits upon determination of suit.

Section 709.450 - Sale and disposition of securities to pay expenses, costs and claims.

Section 709.460 - Application of ORS 709.390 to 709.450 to merger or consolidation; return of security deposit after merger or consolidation.

Section 709.520 - Conversion to out-of-state trust company; conversion to Oregon trust company; procedures.

Section 709.535 - Sale of assets or transfer of liabilities; approval by stockholders and director; appeal.

Section 709.600 - Regulation of trust business by corporations formed prior to adoption of Bank Act; regulation of other business.

Section 709.980 - Civil penalties.