2017 ORS 294.047¹
Loss of principal on liquidation of investments

Whenever the custodial officer is forced to liquidate investments made pursuant to ORS 294.035 (Investment of funds of political subdivisions) and 294.040 (Restriction on investments under ORS 294.035) to meet current cash demands and such liquidation results in a loss of invested principal because the securities were liquidated prior to maturity under market conditions unfavorable to such liquidation, the loss shall be charged against current or future investment earnings and the custodial officer shall not be personally liable to make good such loss. [1959 c.612 §1; 1963 c.465 §1; 1975 c.359 §5]

1 Legislative Counsel Committee, CHAPTER 294—County and Municipal Financial Administration, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors294.­html (2017) (last ac­cessed Mar. 30, 2018).
2 OregonLaws.org contains the con­tents of Volume 21 of the ORS, inserted along­side the per­tin­ent statutes. See the preface to the ORS An­no­ta­tions for more information.
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.