2015 Oregon Revised Statutes
Volume : 07 - Public Facilities, Finance
Chapter 295 - Depositories of Public Funds and Securities
Section 295.031 - Notice to public officials regarding adequacy of collateral.
(1) Within three business days after the State Treasurer receives notice from a custodian pursuant to ORS 295.013 (2)(e), receives information from the Director of the Department of Consumer and Business Services or other sources under ORS 295.071 or 295.073, 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 that is the subject of the notice from the custodian or of the information the State Treasurer received.
(2) Within five business days after the State Treasurer receives notice from a custodian pursuant to ORS 295.013 (2)(f) 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]
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