Modification or termination of trust; proceedings for approval or disapproval. (1) In addition to the methods of termination prescribed by ORS 130.045, 130.200, 130.205, 130.210 and 130.215, a trust terminates: (a) To the extent the trust is revoked or expires pursuant to the terms of the trust; (b) If no purpose of the trust remains to be achieved; or (c) To the extent one or more of the purposes of the trust have become unlawful, contrary to public policy or impossible to achieve. (2) A proceeding to approve or disapprove a proposed modification or termination under ORS 130.045, 130.200, 130.205, 130.210, 130.215, 130.220 and 130.225, or trust combination or division under ORS 130.230, may be commenced by a trustee or beneficiary. A proceeding to approve or disapprove a proposed modification or termination under ORS 130.200 may be commenced by the settlor. The settlor of a charitable trust may maintain a proceeding to modify the trust under ORS 130.210.
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