Oregon Statutes 292.070 – Withholding compensation to purchase United States Savings Bonds or other obligations; Employes Bond Savings Account; rules
(1) As used in ORS § 292.070 to 292.110:
Terms Used In Oregon Statutes 292.070
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
- United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100
(a) ‘Compensation’ means salaries and wages.
(b) ‘State employees’ means state officers and employees, including minors.
(2) The Oregon Department of Administrative Services, pursuant to such rules as it may adopt, is authorized, with the approval of state employees, to withhold from their compensation sums with which to purchase for them United States Savings Bonds or other obligations of the United States of America and to deposit such sums with the State Treasurer in a trust account entitled Employes’ Bond Savings Account. The account shall be subject to withdrawal, in whole or in part, upon the check or written order of the department, or of such persons as may be deputized by it, for the purposes provided in ORS § 292.070 to 292.110. The account, with its component items, shall be exempt from garnishment, attachment or execution under the laws of this state. [Amended by 1981 c.567 § 3]