ORS 295.007¹
Conditions for acting as custodian
  • rules

(1) A financial institution or a Federal Home Loan Bank may be a custodian for securities pledged by a qualified depository if it:

(a) Is approved by the State Treasurer;

(b) Enters into a pledge agreement; and

(c) Except as provided in subsection (3) of this section, certifies in writing to the State Treasurer that it will furnish the reports required under ORS 714.075 (Reports of deposits held at branches) to the Director of the Department of Consumer and Business Services.

(2) The State Treasurer may adopt rules setting forth additional requirements the State Treasurer determines must be met for a depository to be approved as a custodian under this section.

(3) A Federal Home Loan Bank may serve as a custodian without meeting the requirements of subsection (1)(c) this section. [2019 c.587 §8]

Atty. Gen. Opinions

Invest­ment of deferred compensa­tion funds, (1976) Vol 37, p 1284; county fair associa­tion as public corpora­tion, (1979) Vol 39, p 505

Chapter 295

Atty. Gen. Opinions

Invest­ment of funds by school district, (1974) Vol 36, p 827

1 Legislative Counsel Committee, CHAPTER 295—Depositories of Public Funds and Securities, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors295.­html (2019) (last ac­cessed May 16, 2020).
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2019, Chapter 295, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano295.­html (2019) (last ac­cessed May 16, 2020).
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