Section 709.175 - Limitation on investment of trust funds; exceptions(1) Except as provided in ORS 709.220, subsection (2) of this section, or as the instrument that creates the trust relationship or a court order authorizes, a trust company may not invest funds that the trust company holds as fiduciary in stock or obligations of, or property the trust company acquired from: (a) The trust company or the trust company's directors, officers or employees;(b) Individuals affiliated with the trust company or the trust company's directors, officers or employees;(c) Organizations in which the trust company or the trust company's directors, officers or employees hold an interest;(d) Affiliates of the trust company or the affiliates' directors, officers or employees;(e) Individuals with whom the trust company has an interest that might affect the trust company's exercising the trust company's best judgment in making the investment or acquiring the property; or(f) Organizations in which the trust company has an interest that might affect the trust company's exercising the trust company's best judgment in making the investment or acquiring the property.(2) Subsection (1) of this section does not apply if the trust company invests funds the trust company holds as fiduciary in any open-end or closed-end management type investment company or investment trust for which the trust company, or an affiliate of the trust company, acts as investment advisor or custodian or provides other services, for which services the trust company and the trust company's affiliates may receive reasonable fees.(3) For the purposes of this section, companies are affiliated if the companies are members of the same affiliated group under Section 1504 of the Internal Revenue Code.Amended by 2015 Ch. 244,§ 77, eff. 6/4/2015, op. 1/1/2016.1989 c.604 §3; 1991 c.353 §1; 1997 c.631 §213