Notice to public officials regarding adequacy of collateral
(1) Within three business days after the State Treasurer determines that a depository has 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) or receives information from the Director of the Department of Consumer and Business Services or other sources under ORS 295.071 (Investigation by regulatory bodies other than State Treasurer) or 295.073 (Report to State Treasurer of actions that reduce net worth of depository), or otherwise receives information that indicates that a depository has failed to pledge adequate collateral with the depository’s custodian, the State Treasurer shall send written notice of the failure to each public official who has uninsured public funds on deposit in the depository.
(2) Within five business days after the State Treasurer receives a receipt from a custodian pursuant to ORS 295.013 (Custodian’s receipt) (1) that indicates that a depository has pledged adequate collateral with the depository’s custodian, the State Treasurer shall send written notice to each public official who was notified under subsection (1) of this section stating that the depository has adequate collateral. [2007 c.871 §2; 2009 c.821 §8; 2010 c.101 §9; 2017 c.500 §5]
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.