Oregon Administrative Rules
Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION
Division 25 - SECURITIES EXEMPT FROM REGISTRATION
Section 441-025-0040 - Charitable Securities
Universal Citation: OR Admin Rules 441-025-0040
Current through Register Vol. 63, No. 9, September 1, 2024
(1) A person may offer and sell Charitable Remainder Annuity Trusts, Charitable Remainder Unitrusts, and Pooled Income Funds and be exempt from the provisions of ORS 59.055 if:
(a) The person is exempt from federal
taxation under the provisions of Section 501(c)(3) of the
Internal Revenue Code; and
(b) The Charitable Remainder Trusts and the
Pooled Income Funds qualify under the requirements of Section 664
or Section 642 of the Internal Revenue Code
and all other applicable provisions and regulations thereof.
(2) The Director may by rule or order deny, condition, or withdraw this exemption if, in the Director's opinion, the availability of this exemption to a person would work a fraud or imposition upon the purchaser.
Stat. Auth.: ORS 59.285
Stats. Implemented: ORS 59.025(13)
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