Or. Admin. R. 459-005-0140

Current through Register Vol. 63, No. 9, September 1, 2024

Section 459-005-0140 - Permissible Actions Under A Fiduciary Document

(1) After receipt by PERS of a Fiduciary Document meeting the requirements set forth in OAR 459-005-0110, the member's fiduciary and the member (unless the member's fiduciary is a guardian or conservator) may execute any document required by PERS or perform any PERS related business that falls within the scope of the powers granted by the Fiduciary Document.

(2) If the power to appoint a substitute member's fiduciary is provided in the Fiduciary Document and is subsequently exercised by the member's fiduciary, such appointment must be evidenced by a written document submitted to PERS containing:

(a) The member's fiduciary's signature;

(b) An express granting of all, or whatever portion of, the powers held by the member's fiduciary that is being granted to the substitute member's fiduciary; and

(c) The signature and address of the substitute member's fiduciary.

Or. Admin. R. 459-005-0140

PERS 7-1996, f. & cert. ef. 11-12-96; PERS 6-2007, f. & cert. ef. 2-21-07

Stat. Auth.: ORS 238.650

Stats. Implemented: ORS 238.005 - 238.715