Oregon § 732.240 Trusts of life insurance proceeds

Oregon Statutes

§ 732.240 — Trusts of life insurance proceeds

Oregon § 732.240

Vol.18

Title 56Insurance

Ch. 732Organization and Corporate Procedures of Domestic Insurers; Regulation of

This text of Oregon § 732.240 (Trusts of life insurance proceeds) 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. § 732.240 (2026).

Text

(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.

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(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.