ORS 295.101
Public funds not subject to ORS 295.001 to 295.108


(1)

The following public funds are not subject to the provisions of ORS 295.001 (Definitions for ORS 295.001 to 295.108) to 295.108 (State Treasurer rules):

(a)

Funds that are deposited for the purpose of paying principal, interest or premium, if any, on bonds, as defined in ORS 286A.001 (Definitions for ORS chapter 286A) and 287A.001 (Definitions for ORS chapter 287A), and related costs or securing a borrowing related to an agreement for exchange of interest rates entered into under ORS 286A.110 (Agreements for exchange of interest rates) or 287A.335 (Agreements for exchange of interest rates).

(b)

Funds that are invested in authorized investments under provisions of law other than ORS 295.001 (Definitions for ORS 295.001 to 295.108) to 295.108 (State Treasurer rules). Funds invested under ORS 293.701 (Definitions for ORS 293.701 to 293.857) to 293.857 (Separate accounts for each local government) are invested in authorized investments for purposes of this subsection from the time the funds are transferred by the State Treasurer to a third party under the terms of a contract for investment or administration of the funds that requires such a transfer until the time the funds are returned to the treasurer or paid to another party under the terms of the contract.

(c)

Negotiable certificates of deposit purchased by the State Treasurer under ORS 293.736 (Duties of investment officer) or by an investment manager under ORS 293.741 (Council may contract with others to perform investment officer functions).

(d)

Funds that are held by a public official as required by federal law, a judicial or regulatory order, settlement agreement, consent decree or similar arrangement. To the extent allowed by such federal law, order, agreement, decree or arrangement, the public official shall require the funds to be protected in a manner consistent with the provisions of this chapter.

(e)

Funds that are held pursuant to a contract with provisions that require the funds to be collateralized at 100 percent, if the funds are deposited into an account that is separate from other accounts of the holder of the funds and the public official and the financial institution in which the funds are deposited have entered into a written agreement that provides a perfected security interest to the public official in collateral valued at an amount at least equal to the amount of funds in the account, in a manner substantially similar to a pledge agreement described in ORS 295.001 (Definitions for ORS 295.001 to 295.108) (17).

(f)

Funds that are held by a trustee or escrow agent, whether commingled with other moneys or in a segregated account, if the trust or escrow agreement provides for collateral or other methods that may be used to secure the moneys that comply with rules or policies adopted by the State Treasurer to protect the funds from loss by the financial institution in which they are deposited.

(2)

Notwithstanding subsection (1) of this section, funds deposited by a custodial officer under ORS 294.035 (Investment of funds of political subdivisions) (3)(d) are subject to the provisions of ORS 295.001 (Definitions for ORS 295.001 to 295.108) to 295.108 (State Treasurer rules). [Formerly 295.011; 2011 c.667 §5; 2019 c.503 §§1,2; 2019 c.587 §31]

Source: Section 295.101 — Public funds not subject to ORS 295.001 to 295.108, 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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