Application. (1) Except as otherwise provided in ORS chapter 130: (a) ORS chapter 130 applies to all trusts created before, on or after January 1, 2006. (b) ORS chapter 130 does not apply to judicial, administrative and other proceedings concerning trusts commenced before January 1, 2006. (c) Any rule of construction or presumption provided in ORS chapter 130 applies to trust instruments executed before January 1, 2006, unless there is a clear indication of a contrary intent in the terms of the trust. (d) An act done before January 1, 2006, is not affected by ORS chapter 130. (2) If a right is acquired, extinguished or barred upon the expiration of a prescribed period that has commenced to run under any other statute before January 1, 2006, that statute continues to apply to the right even if it has been repealed or superseded. Note: See note under 130.900. _______________
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