ORS 97.830¹
Investment and reinvestment of principal of endowed care funds
  • use and application of income

(1) The principal of all funds for endowed care shall be invested, from time to time reinvested and kept invested. If a trust agreement imposes upon the trustee or custodian the duty to direct the investment or reinvestment of endowed care funds, the trustee or custodian shall perform this duty governed by ORS 130.750 (Trustee’s duty to comply with prudent investor rule) to 130.775 (Trust language authorizing investments permitted under prudent investor rule). Otherwise, the cemetery authority, governed by ORS 130.750 (Trustee’s duty to comply with prudent investor rule) to 130.775 (Trust language authorizing investments permitted under prudent investor rule), shall direct the investment and reinvestment of endowed care funds in the time or savings deposits of the custodian bank or savings association.

(2) The principal of invested endowed care funds shall never be voluntarily reduced, but shall be maintained separate and distinct by the trustee or custodian from all other funds except that it shall be proper to commingle endowment care funds with special care funds. The payment of charges chargeable against principal under ORS chapter 129 or of other expenses necessarily incurred in the administration of the trust in accordance with subsection (1) of this section shall not constitute a voluntary reduction of principal. The net income earned shall be used solely for the general care and maintenance of the cemetery property entitled to endowment care, as stipulated in the resolution, bylaw and other action or instrument by which the fund was established, and in such manner as the cemetery authority may from time to time determine to be in the best interests of such endowed property. Such net income shall never be used for the improvement or embellishment of undeveloped property offered for sale. [Amended by 1955 c.545 §4; 1985 c.450 §3; 1987 c.295 §3; 1995 c.157 §24; 1995 c.297 §1; 2003 c.279 §32; 2005 c.348 §125]

Atty. Gen. Opinions

Treat­ment of gains or losses incurred in invest­ments by the trustee of an endow­ment care cemetery, (1972) Vol 36, p 269

Chapter 97

Atty. Gen. Opinions

Embalming dead human body without prior authoriza­tion from surviving spouse or next of kin, (1981) Vol 41, p 457

1 Legislative Counsel Committee, CHAPTER 97—Rights and Duties Relating to Cemeteries, Human Bodies and Anatomical Gifts, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors097.­html (2019) (last ac­cessed May 16, 2020).
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2019, Chapter 97, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano097.­html (2019) (last ac­cessed May 16, 2020).
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information