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2017 Oregon Revised Statutes
Volume : 12 - Drugs and Alcohol, Fire Protection, Natural Resources
Chapter 475B - Cannabis Regulation
Section 475B.033 - Powers related to decedents and insolvent or bankrupt persons.
Universal Citation: OR Rev Stat § 475B.033 (2017)
The Oregon Liquor Control Commission may, by rule or order, provide for the manner and conditions under which:
(1) Marijuana items left by a deceased, insolvent or bankrupt person or licensee, or subject to a security interest, may be foreclosed, sold under execution or otherwise disposed.
(2) The business of a deceased, insolvent or bankrupt licensee may be operated for a reasonable period following the death, insolvency or bankruptcy.
(3) A secured party, as defined in ORS 79.0102, may continue to operate at a premises for which a license has been issued under ORS 475B.010 to 475B.545 for a reasonable period after default on the indebtedness by the debtor. [2015 c.1 §25(2); 2015 c.614 §5(2); 2017 c.183 §48]
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