2017 ORS 295.053¹
Custodian duties when depository ceases holding uninsured public funds
  • securities

(1) If a depository ceases holding uninsured public funds deposits, the depository’s custodian shall continue to hold the depository’s pledged securities as collateral pursuant to ORS 295.001 (Definitions for ORS 295.001 to 295.108) to 295.108 (State Treasurer rules). Unless the State Treasurer directs that the custodian hold the depository’s pledged securities for a longer period, the custodian shall hold the depository’s pledged securities for a period of 30 days.

(2) If any of a depository’s pledged securities mature during the period described in subsection (1) of this section, the depository shall pledge substitute securities that the depository’s custodian shall hold until the period expires.

(3) If a depository has not held uninsured public funds deposits during the period described in subsection (1) of this section, at the end of the period the depository’s custodian shall tender the depository’s pledged securities to the depository. [2007 c.871 §13; 2009 c.821 §14; 2010 c.101 §17]

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 (2017) (last ac­cessed Mar. 30, 2018).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2017, Chapter 295, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano295.­html (2017) (last ac­cessed Mar. 30, 2018).
 
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.