Notice to public officials regarding adequacy of collateral
(1) Within five business days after the State Treasurer receives notice from a custodian pursuant to ORS 295.013 (Custodian's receipt) (2)(e) indicating that a bank depository has failed to pledge adequate collateral with its custodian, the treasurer shall send written notice of the failure to each public official who has public funds on deposit in the bank depository with respect to which the notice under ORS 295.013 (Custodian's receipt) (2)(e) was given.
(2) Within five business days after the State Treasurer receives notice from a custodian pursuant to ORS 295.013 (Custodian's receipt) (2)(f) indicating that a bank depository has once again pledged adequate collateral with its custodian, the treasurer shall send written notice to each public official who was notified under subsection (1) of this section stating that the bank depository once again has adequate collateral. [2007 c.871 §2]
Note: ORS 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 bank depository), 295.041 (Subrogation rights of State Treasurer), 295.046 (Limitation on depository acceptance of public funds from single public official), 295.048 (Limitations on aggregate public funds deposits), 295.053 (Custodian duties when bank depository ceases holding 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 certain actions by Director of Department of Consumer and Business Services), 295.106 (State Treasurer charges) and 295.108 (State Treasurer rules) become operative July 1, 2008, and apply to all public funds on deposit on or after July 1, 2008. See sections 36 and 37, chapter 871, Oregon Laws 2007, as amended by sections 39 and 40, chapter 871, Oregon Laws 2007.
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