2015 ORS 293.708¹
Conflicts of interest for council members

(1) As used in this section:

(a) "Business" has the meaning given that term in ORS 244.020 (Definitions).

(b) "Business with which the person is associated" has the meaning given that term in ORS 244.020 (Definitions).

(c) "Relative" has the meaning given that term in ORS 244.020 (Definitions).

(2) When a person who is a member of the Oregon Investment Council becomes aware that action on a matter pending before the council might lead to private pecuniary benefit or detriment to the person, to a relative of the person or to a business with which the person or a relative of the person is associated, the member shall notify in writing the State Treasurer or the Deputy State Treasurer that any action, decision or recommendation by the member might constitute an actual or potential conflict of interest. The member shall provide the notice not later than three business days after the member becomes aware of the possibility of an actual or potential conflict.

(3) Subsection (2) of this section does not apply if the pecuniary benefit or detriment arises out of circumstances described in ORS 244.020 (Definitions) (13).

(4) Complaints of violations of this section may be made to the Oregon Government Ethics Commission for review and investigation as provided by ORS 244.260 (Complaint and adjudicatory process) and for possible imposition of civil penalties as provided by ORS 244.350 (Civil penalties) or 244.360 (Additional civil penalty equal to twice amount of financial benefit).

(5) Nothing in this section excuses a member of the council from compliance with ORS 244.120 (Methods of handling conflicts). [2005 c.179 §2; 2007 c.865 §21; 2007 c.877 §38; 2009 c.68 §19; 2011 c.68 §6; 2015 c.620 §8]

Note: 293.708 (Conflicts of interest for council members) was added to and made a part of 293.701 (Definitions for ORS 293.701 to 293.857) to 293.857 (Separate accounts for each local government) by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.

Atty. Gen. Opinions

Effect of Board of Higher Educa­tion order directing divestiture of stock in companies doing business in Southern Africa, (1978) Vol 38, p 2017; State Treasurer authority to enter into reverse repurchase agree­ments, (1979) Vol 39, p 569; real estate holdings through invest­ment for Oregon Public Employes' Retire­ment Fund, (1981) Vol 41, p 503; Statutory and fiduciary duties of treasurer and Or. Invest­ment Council to PERF, (1993) Vol 46, p 506

Chapter 293

Atty. Gen. Opinions

Duty or authority of Secretary of State to con­duct performance audits, (1985) Vol. 44, p 381


1 Legislative Counsel Committee, CHAPTER 293—Administration of Public Funds, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors293.­html (2015) (last ac­cessed Jul. 16, 2016).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2015, Chapter 293, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano293.­html (2015) (last ac­cessed Jul. 16, 2016).
 
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.