Relating to fiduciary duties of persons that are subject to Oregon Securities Law; prescribing an effective date.

Requires person subject to requirement to obtain license under Oregon Securities Law to disclose to individual that person is not fiduciary if person is not subject to or has not assumed fiduciary duty with respect to individual. Specifies requirements for disclosure. Requires person subject to requirement to obtain license under Oregon Securities Law to assume fiduciary duty with respect to individual to whom person provides counsel or advice or on behalf of whom person transacts business related to individual's investments in retirement benefit plan that is not subject to federal Employee Retirement Income Security Act of 1974. Punishes violation of Act by maximum of 364 days' imprisonment, $6,250, or both. Takes effect on 91st day following adjournment sine die.