Oregon Statutes 566.320 – Application to federal government for return of trust assets of dissolved Oregon Rural Rehabilitation Corporation
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The Department of State Lands hereby is designated as the state agency of the State of Oregon to make application to and receive from the Secretary of Agriculture of the United States, or any other proper federal official, pursuant and subject to the provisions of Public Law 499, 81st Congress, approved May 3, 1950, the trust assets, either funds or property, held by the United States as trustee in behalf of the Oregon Rural Rehabilitation Corporation. [Formerly 414.050 and then 414.820]
Terms Used In Oregon Statutes 566.320
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
- Trustee: A person or institution holding and administering property in trust.
- United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100