2013 ORS § 295.031¹
Notice to public officials regarding adequacy of collateral

(1) Within three business days after the State Treasurer receives notice from a custodian pursuant to ORS 295.013 (Custodians receipt) (2)(e), receives information from the Director of the Department of Consumer and Business Services or other sources under ORS 295.071 (Investigation by regulatory bodies other than State Treasurer) or 295.073 (Report to State Treasurer of actions that reduce net worth of depository), or otherwise receives information that indicates that a depository has failed to pledge adequate collateral with the depositorys custodian, the State Treasurer shall send written notice of the failure to each public official who has uninsured public funds on deposit in the depository that is the subject of the notice from the custodian or of the information the State Treasurer received.

(2) Within five business days after the State Treasurer receives notice from a custodian pursuant to ORS 295.013 (Custodians receipt) (2)(f) that indicates that a depository has pledged adequate collateral with the depositorys custodian, the State Treasurer shall send written notice to each public official who was notified under subsection (1) of this section stating that the depository has adequate collateral. [2007 c.871 §2; 2009 c.821 §8; 2010 c.101 §9]