2015 ORS § 357.040¹
Authority of board over real and personal property

(1) The State Library Board may acquire control and dispose of any and all real and personal property given to or for the benefit of the State Library by private donors, whether the gifts of the property are made to the State Library or to the board or to the State of Oregon for the benefit of the library.

(2) The board may accept by assignment and hold mortgages upon real and personal property acquired by way of gift or arising out of transactions entered into in accord with the powers, duties and authority given to the board by this section and ORS 357.026 (Board duties) and 357.195 (State Library Donation Fund).

(3) The board may institute, maintain and participate in suits, actions and other judicial proceedings in the name of the State of Oregon for the foreclosure of such mortgages or for the purpose of carrying into effect any and all of the powers, duties and authority now vested in or given to the board by this section. [Amended by 1975 c.476 §11; 1995 c.69 §11; 2015 c.328 §11]

Note: Section 5, chapter 328, Oregon Laws 2015, provides:

Sec. 5. (1) The Trustees of the State Library is abolished on the effective date of this 2015 Act [January 1, 2016]. Any moneys or property held by the Trustees of the State Library on the effective date of this 2015 Act are transferred to the State Library Board. For all purposes, on the effective date of this 2015 Act the State Library Board shall serve as the successor in interest to the Trustees of the State Library.

(2) Notwithstanding section 4 of this 2015 Act [357.021 (State Library Board)], the members of the Trustees of the State Library on the day before the effective date of this 2015 Act shall serve as the initial members of the State Library Board who are described in section 4 (2) of this 2015 Act. The Governor shall designate which of the initial members of the board serves for the following specified terms:

(a) Three shall serve for terms ending June 30, 2016. Upon expiration of the terms, two shall be replaced by members from two different state agencies and one shall be replaced by a member representing a community college library or public university library in this state.

(b) Two shall serve for terms ending June 30, 2017.

(c) Two shall serve for terms ending June 30, 2018. [2015 c.328 §5]