Oregon § 341.703 Custodian of funds; depositories; signature on checks; warrants as checks

Oregon Statutes

§ 341.703 — Custodian of funds; depositories; signature on checks; warrants as checks

Oregon § 341.703

Vol.9

Title 30Education and Culture

Ch. 341Community Colleges

This text of Oregon § 341.703 (Custodian of funds; depositories; signature on checks; warrants as checks) 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. § 341.703 (2026).

Text

(1)The board of a community college district shall designate a custodian of funds of the district. Funds shall be disbursed only in the manner provided by subsection (3) of this section.

(2)For the purpose of receiving deposits of community college funds, the board of the district shall designate such bank or banks, as the board deems safe and proper depositories for district funds. The custodian designated under subsection (1) of this section shall not be liable personally or upon the official bond of the custodian for moneys lost by reason of failure or insolvency of any bank which becomes a depository under this subsection.

(3)When funds are available for payment, district obligations shall be paid by check bearing the original signature of the custodian of the district funds; or if

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(1) The board of a community college district shall designate a custodian of funds of the district. Funds shall be disbursed only in the manner provided by subsection (3) of this section.
(2) For the purpose of receiving deposits of community college funds, the board of the district shall designate such bank or banks, as the board deems safe and proper depositories for district funds. The custodian designated under subsection (1) of this section shall not be liable personally or upon the official bond of the custodian for moneys lost by reason of failure or insolvency of any bank which becomes a depository under this subsection.
(3) When funds are available for payment, district obligations shall be paid by check bearing the original signature of the custodian of the district funds; or if authorized by the board of the district, the custodian’s facsimile signature.
(4) Where a statute specifies a warrant as the means by which district obligations shall be paid, warrant means “check” if funds are available for payment.