ORS 295.091
Geographic preference in selecting depositories

  • apportioning funds
  • interest

(1)

A public official need not deposit public funds in a depository in a particular locality, but the public official shall give preference to a depository that is engaged in business at an office within the corporate limits of the public official’s public body. If more than one local depository exists, the public official shall apportion the public funds among the local depositories in a manner that is equitable and in the best interests of the public body.

(2)

The depositories shall pay interest to the public body for deposits evidenced by certificates of deposit or deposits that by agreement may not be withdrawn on less than 30 days’ notice, at the rate or rates upon which the public body and the depository agree.

(3)

Interest received on deposits of moneys under this section accrues to and becomes a part of the fund the moneys of which were deposited.

(4)

This section does not apply to the State Treasurer. [Formerly 295.155; 2010 c.101 §23; 2019 c.587 §27]

Source: Section 295.091 — Geographic preference in selecting depositories; apportioning funds; interest, https://www.­oregonlegislature.­gov/bills_laws/ors/ors295.­html.

295.001
Definitions for ORS 295.001 to 295.108
295.002
Deposit of public funds
295.004
Conditions for deposit of funds in excess of specified amounts
295.006
Public official filings with State Treasurer
295.007
Conditions for acting as custodian
295.008
Qualified depositories
295.012
State Treasurer rule setting maximum liability for qualified credit union depositories
295.013
Custodian’s receipt
295.015
Maintenance of securities by qualified depository
295.018
Increase in required collateral of qualified depository
295.022
Collateral not required for deferred compensation funds
295.031
Notice to public officials regarding adequacy of collateral
295.034
Withdrawal of inadequately collateralized funds
295.037
Distribution of collateral after loss in qualified depository
295.038
Assessment against collateral of qualified depositories
295.039
State Treasurer acceptance of moneys for purposes of administering ORS 295.038
295.041
Subrogation rights of State Treasurer
295.046
Limitation on acceptance of public funds from single public official
295.048
Limitations on aggregate uninsured public funds deposits
295.053
Custodian duties when qualified depository ceases holding uninsured public funds
295.056
Liability of public officials for loss of public funds
295.061
Treasurer reports
295.071
Investigation by regulatory bodies other than State Treasurer
295.073
Report to State Treasurer of actions that reduce net worth of depository
295.081
Time deposits
295.084
State Treasurer designation of depositories
295.091
Geographic preference in selecting depositories
295.093
Depositing moneys with treasurer of public body
295.097
State agency agreements with third parties
295.098
Public body agreements with third parties
295.101
Public funds not subject to ORS 295.001 to 295.108
295.103
Certain moneys related to motor carriers not public funds
295.106
State Treasurer charges
295.108
State Treasurer rules
295.195
Deposit of funds in foreign country
295.205
Accounts in financial institutions outside Oregon
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