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2019 Oregon Revised Statutes
Volume : 07 - Public Facilities and Finance
Chapter 294 - County and Municipal Financial Administration
Section 294.047 - Loss of principal on liquidation of investments.
Universal Citation: OR Rev Stat § 294.047 (2019)
Whenever the custodial officer is forced to liquidate investments made pursuant to ORS 294.035 and 294.040 to meet current cash demands and such liquidation results in a loss of invested principal because the securities were liquidated prior to maturity under market conditions unfavorable to such liquidation, the loss shall be charged against current or future investment earnings and the custodial officer shall not be personally liable to make good such loss. [1959 c.612 §1; 1963 c.465 §1; 1975 c.359 §5]
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