Oregon § 295.081 Time deposits

Oregon Statutes

§ 295.081 — Time deposits

Oregon § 295.081

Vol.7

Title 28Public Financial Administration

Ch. 295Depositories of Public Funds and Securities

This text of Oregon § 295.081 (Time deposits) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 295.081 (2026).

Text

(1)Subject to ORS 295.002, 295.015 and 295.018, a depository may offer in writing to accept from the State Treasurer time deposits in an unlimited amount or in an aggregate amount stated in the offer and to pay interest on the time deposits at rates specified in the offer. The offer shall continue until the depository delivers or mails, by registered or certified mail, notice to the State Treasurer that modifies or withdraws the offer. While the offer continues in effect, the depository must accept in accordance with the terms of the offer time deposits tendered by the State Treasurer.

(2)Funds the State Treasurer deposits on a time basis must be deposited at the highest rate of interest available for the amount and term of the deposit.

(3)The State Treasurer shall establish time deposi

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(1) Subject to ORS 295.002, 295.015 and 295.018, a depository may offer in writing to accept from the State Treasurer time deposits in an unlimited amount or in an aggregate amount stated in the offer and to pay interest on the time deposits at rates specified in the offer. The offer shall continue until the depository delivers or mails, by registered or certified mail, notice to the State Treasurer that modifies or withdraws the offer. While the offer continues in effect, the depository must accept in accordance with the terms of the offer time deposits tendered by the State Treasurer.
(2) Funds the State Treasurer deposits on a time basis must be deposited at the highest rate of interest available for the amount and term of the deposit.
(3) The State Treasurer shall establish time deposits so as to make the deposited moneys as productive as possible, and shall exercise the judgment and care that a person of prudence, discretion and intelligence exercises in the management of the person’s own affairs, considering the probable income and the probable safety of the moneys deposited and considering the distribution of the deposits among depositories so as to minimize the possibility of loss of moneys.