1. (1) A legal expense trust fund established under ORS 244.205 to 244.221 may be terminated by:

   1. (a) The public official who established the trust fund;
   2. (b) Subject to subsection (2) of this section, the terms of the trust agreement; or
   3. (c) The Oregon Government Ethics Commission following a determination by the commission that a violation of any provision of this chapter has occurred in connection with the trust fund.
2. (2) A trust agreement may provide that a legal expense trust fund is terminated not later than six months following the completion of the legal proceeding for which the fund was established. Upon application of the public official who established the trust fund, the commission may extend the existence of the trust fund to a specified date if the commission determines that the public official has incurred legal expenses that exceed the balance remaining in the fund. If the commission extends the existence of the trust fund, the trust fund terminates on the date the extension expires.
3. (3) Following termination of a legal expense trust fund, the trustee may not accept contributions to or make expenditures from the fund.
4. (4) Not later than 30 days after a trust fund is terminated, the trustee of the fund shall file with the commission a final report listing the totals of all contributions made to the fund and all expenditures made from the fund.

[2007 c.877 §36]