Pool of Assets that Qualify to Pay State Exempt-Interest Dividends

As used in ORS 316.683(1), a “pool of assets” means funds that are managed by financial institutions acting in a fiduciary capacity for the benefit of trust beneficiaries. Financial institutions shall include, but not be limited to banks, savings associations, or credit unions. The pool of assets need not be incorporated as a regulated investment company in order to pay state exempt-interest dividends to its beneficiaries.