Oregon Revised Statutes Property Rights and Transactions § 97.935

(a) Establish procedures for registering master trustees under this section.

(b) Establish standards for master trustees.

(c) Set registration and renewal fees.

(d) Establish standards for rules of conduct of master trustees.

(2)(a) A master trustee shall file an annual report with the director on forms prescribed by the director by rule. The annual report must contain any information reasonably considered necessary by the director, including but not limited to:

(b) The director may take appropriate action under ORS 97.948 and 97.949 if a master trustee fails to file the annual report or the report contains any material discrepancy.

(c) The director may relieve a master trustee of the duty to file the annual report upon a determination that the master trustee has performed all obligations under the trust agreement with each certified provider, or that the master trustee's obligations have been lawfully assumed by another master trustee or have been discharged or canceled.