2019 Oregon Revised Statutes
Volume : 07 - Public Facilities and Finance
Chapter 293 - Administration of Public Funds
Section 293.455 - Refusal of payment of unpresented checks; duties of State Treasurer in transferring funds; report to Department of State Lands.

Universal Citation: OR Rev Stat § 293.455 (2019)

(1) After October 1, the State Treasurer may refuse payment of the unpresented checks or orders included in the report referred to in ORS 293.450. In accordance with procedures developed by the Department of State Lands and approved by the State Treasurer, the agency shall instruct the State Treasurer to do the following:

(a) Transfer and credit the amounts of the unpresented checks or orders dedicated for general funding to the General Fund.

(b) Transfer all other funds to the Department of State Lands for deposit in the Unclaimed Property Revolving Fund within the Common School Fund Account.

(c) Transfer and credit the amounts of the unpresented checks issued under ORS chapters 316 and 317 to the Department of State Lands for deposit in the Unclaimed Property Revolving Fund within the Common School Fund Account.

(2) In each instance, the State Treasurer shall issue an official receipt for the amount so transferred or credited.

(3) If the State Treasurer pays the owner of an unpresented check or order included in the report referred to in ORS 293.450 before the funds are transferred to the Department of State Lands, this information shall be reported to the Department of State Lands. [Formerly 291.512; 1967 c.454 §64; 1981 c.188 §1; 1993 c.694 §31; 1995 c.340 §1; 1997 c.86 §§3,4]

Note: The amendments to 293.455 by section 62, chapter 678, Oregon Laws 2019, become operative July 1, 2021. See section 85, chapter 678, Oregon Laws 2019. The text that is operative on and after July 1, 2021, is set forth for the user’s convenience.
(1) After October 1, the State Treasurer may refuse payment of the unpresented checks or orders included in the report referred to in ORS 293.450. The State Treasurer shall:

(a) Transfer and credit the amounts of the unpresented checks or orders dedicated for general funding to the General Fund.

(b) Transfer all other funds to the Unclaimed Property Revolving Fund within the Common School Fund Account.

(c) Transfer and credit the amounts of the unpresented checks issued under ORS chapters 316 and 317 to the Unclaimed Property Revolving Fund within the Common School Fund Account.

(2) In each instance, the State Treasurer shall issue an official receipt for the amount so transferred or credited.

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