Conservator’s accounting to court
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(1) Unless the court by order provides otherwise, a conservator shall account to the court for the administration of the protected estate within 60 days after each anniversary of appointment. In addition, a conservator shall account to the court for the administration of the protected estate:
(a) Within 60 days after the death of the protected person, a minor protected person attains majority or an adult protected person becomes able to manage the protected person’s financial resources; and
(b) Within 30 days after the removal of the conservator, the resignation of the conservator or the termination of the conservator’s authority under ORS 125.410 (Conservator’s bond) (7).
(2) Each accounting must include the following information:
(a) The period of time covered by the accounting.
(b) The total value of the property with which the conservator is chargeable according to the inventory, or, if there was a prior accounting, the amount of the balance of the prior accounting.
(c) All money and property received during the period covered by the accounting.
(d) All disbursements made during the period covered by the accounting.
(e) The amount of bond posted by the conservator during the period covered by the accounting.
(f) With respect to conservators who are professional fiduciaries, the total amount of compensation that investment advisers or brokers other than the professional fiduciary charged or received in charges for investments managed or transacted by the investment advisers or brokers.
(g) Such other information as the conservator considers necessary, or that the court might require, for the purpose of disclosing the condition of the estate.
(3) Vouchers for disbursements must accompany the accounting unless otherwise provided by order or rule of the court or unless the conservator is a trust company that has complied with ORS 709.030 (Approval to transact trust business). If vouchers are not required, the conservator shall:
(a) Maintain the vouchers for a period of not less than one year following the date on which the order approving the final accounting is entered;
(b) Permit interested persons to inspect the vouchers and receive copies of the vouchers at their own expense at the place of business of the conservator during the conservator’s normal business hours at any time before the end of one year following the date on which the order approving the final accounting is entered; and
(c) Include in each annual accounting and the final accounting a statement that the vouchers are not filed with the accounting but are maintained by the conservator and may be inspected and copied as provided in this subsection.
(4) The court may waive a final accounting if:
(a) The conservator was appointed because the protected person was a minor, and the protected person has attained the age of majority, or the conservator was appointed because the protected person was financially incapable, and the protected person is no longer financially incapable;
(b) The protected person gives a receipt to the conservator for the property delivered to the protected person; and
(c) The conservator files with the court a copy of the receipt issued by the protected person to the conservator.
(5) Copies of accountings must be served on all persons listed in ORS 125.060 (Who must be given notice) (3). The court may waive service on the protected person if service of the copy would not assist the protected person in understanding the proceedings.
(6) The court may require a conservator to submit to a physical check of the estate in the control of the conservator at any time and in any manner the court may specify.
(7) The Chief Justice of the Supreme Court may by rule specify the form and contents of accounts that must be filed by a conservator. [1995 c.664 §49; 1997 c.631 §411; 1999 c.592 §4; 2005 c.123 §2; 2015 c.364 §2]
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