Oregon § 327.455 Record of purchases by Department of State Lands on foreclosures; resale or lease of land; disposition of proceeds

Oregon Statutes

§ 327.455 — Record of purchases by Department of State Lands on foreclosures; resale or lease of land; disposition of proceeds

Oregon § 327.455

Vol.9

Title 30Education and Culture

Ch. 327State Financing of Early Learning and Elementary and Secondary Education

This text of Oregon § 327.455 (Record of purchases by Department of State Lands on foreclosures; resale or lease of land; disposition of proceeds) 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. § 327.455 (2026).

Text

The Director of the Department of State Lands shall keep a correct record of all purchases on foreclosures under ORS 327.450 with a description of the lands so purchased or acquired, and a statement of the fund to which they belong. Such lands shall be placed in the hands of the director and sold or leased under the direction of the department on the best terms obtainable, and the proceeds, to the amount of the principal of the loans, shall be paid into the fund from which the loans were made, and the excess paid to the interest account of that fund.

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The Director of the Department of State Lands shall keep a correct record of all purchases on foreclosures under ORS 327.450 with a description of the lands so purchased or acquired, and a statement of the fund to which they belong. Such lands shall be placed in the hands of the director and sold or leased under the direction of the department on the best terms obtainable, and the proceeds, to the amount of the principal of the loans, shall be paid into the fund from which the loans were made, and the excess paid to the interest account of that fund.