Deduction of requested payments to financial institutions
- • payment to designated central depositories
(1) Upon receipt of the request in writing of a state officer or employee to do so, the state officer authorized to disburse funds in payment of the salary or wages of such state officer or employee each month shall deduct from the salary or wages of such officer or employee the amount of money indicated in such request, for payment thereof to any designated financial institution that is a member of the Oregon Automated Clearing House Association or its successor, designated by such officer or employee to receive it.
(2) Such state official each month shall pay such amount so deducted to a single central depository or clearinghouse facility designated by participating credit unions for credit union payments, savings and loans for savings and loan payments, banks for bank payments, to receive payments on their behalf.
(3) Upon receipt of the request in writing of such officer or employee to do so, such state official shall cease making such deductions and payments.
(4) As used in this section, "financial institution" means a financial institution as defined in ORS 706.008 (Additional definitions for Bank Act) or any other entity authorized to hold or invest individual retirement accounts under section 408, Internal Revenue Code of 1954, in effect on January 1, 1987. [1971 c.71 §2; 1979 c.718 §2; 1985 c.355 §2; 1997 c.631 §444]
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information