Substitution of deposit securities
- • income of securities deposited
(1) The Director of the Department of Consumer and Business Services may require the immediate substitution of other securities when the director has reason to believe that the market value of securities which have been deposited under ORS 709.030 (Approval to transact trust business) have depreciated below the amount required under ORS 709.030 (Approval to transact trust business). Substitution of securities with the director at the request of the depositing trust company may be permitted if approved by the director.
(2) All interest, income or dividends from all securities deposited with the director belong to the depositing trust company, and if the trust company is solvent, it may receive and retain the interest, income or dividends. [Amended by 1973 c.797 §190; 1997 c.631 §209]
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