Oregon § 673.815 Custodial duties; standards

Oregon Statutes

§ 673.815 — Custodial duties; standards

Oregon § 673.815

Vol.17

Title 52Occupations and Professions

Ch. 673Accountants; Other Tax Professionals

This text of Oregon § 673.815 (Custodial duties; standards) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 673.815 (2026).

Text

(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 facilitator’s 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

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(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 facilitator’s 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.