2011 ORS § 278.425¹
Insurance Fund
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(1) There is established an Insurance Fund as a separate fund in the State Treasury, separate and distinct from the General Fund, which shall be used to provide insurance and self-insurance for the State of Oregon under this chapter, and for participating local public bodies under ORS 30.282 (Local public body insurance) and 278.125 (Purchase of insurance) to 278.215 (Uninsured motorist coverage requirements). The moneys in the Insurance Fund may be invested as provided in ORS 293.701 (Definitions for ORS 293.701 to 293.820) to 293.820 (Separate accounts for each local government) in investment funds as defined in ORS 293.701 (Definitions for ORS 293.701 to 293.820) which includes the Insurance Fund. Interest earned by the fund shall be credited to the fund.

(2) The Insurance Fund shall be administratively separated to assure individual accountability of the state and local public body liability insurance programs under ORS 30.282 (Local public body insurance) and 278.125 (Purchase of insurance) to 278.215 (Uninsured motorist coverage requirements) and the state property insurance program under this chapter.

(3) All moneys arising from the operation of this section and ORS 278.405 (Department to manage risk management and insurance programs), 278.415 (Department authorization of agency insurance purchases) and 278.435 (Fund to operate on actuarially sound basis) and the provisions of this chapter and ORS 30.260 (Definitions for ORS 30.260 to 30.300) to 30.300 (ORS 30.260 to 30.300 exclusive) and 278.322 (Child care facility liability insurance coverage) shall be set aside by the State Treasurer and credited to the Insurance Fund. The moneys in the Insurance Fund are continuously appropriated to the Oregon Department of Administrative Services to administer the provisions of this chapter and ORS 30.260 (Definitions for ORS 30.260 to 30.300) to 30.300 (ORS 30.260 to 30.300 exclusive) and 278.322 (Child care facility liability insurance coverage). [1985 c.731 §4; 1989 c.966 §13]