2015 ORS 295.013¹
Custodian’s receipt
  • duties of custodian

(1) When a custodian receives securities from a depository, the custodian shall issue to the State Treasurer, with a copy to the depository, a custodian’s receipt that describes the securities.

(2) A custodian shall:

(a) Maintain an accurate inventory of the securities of each depository described in the custodian’s receipts that the custodian issues to the State Treasurer and adjust the inventory to reflect withdrawals and substitutions of securities that the custodian previously inventoried.

(b) Appraise the value of the securities added to and withdrawn from the depository’s inventory and appraise the value of the depository’s entire inventory on the last day of each month and at such other times as the State Treasurer directs.

(c) Provide a monthly report to the State Treasurer that lists the securities each depository has pledged and that sets forth the value of each security and of the entire inventory of securities the depository has pledged.

(d) Notify a depository in writing within one business day after the custodian determines that the value of the securities the custodian holds for the depository is less than the minimum collateral requirement for the depository.

(e) Notify the State Treasurer in writing within one business day after the custodian learns that a depository failed to increase the value of the depository’s securities within the time required under ORS 295.015 (Maintenance of securities by depository) (3)(b).

(f) Notify the State Treasurer in writing if a depository increases the value of the depository’s securities to an adequate amount after the depository receives notice under paragraph (d) of this subsection.

(g) Notify the State Treasurer within one business day after the custodian determines that a bond in the inventory of a depository no longer meets the rating requirements described in ORS 295.001 (Definitions for ORS 295.001 to 295.108) (19)(c) or (d). [Formerly 295.035; 2009 c.821 §5; 2010 c.101 §6]

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 (2015) (last ac­cessed Jul. 16, 2016).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2015, Chapter 295, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano295.­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.