Oregon Statutes 294.847 – Prohibited conduct for investment officer
In making investments pursuant to ORS § 294.805 to 294.895, the investment officer may not:
Terms Used In Oregon Statutes 294.847
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
(1) Make a commitment to invest funds or sell securities more than 14 business days prior to the anticipated date of settlement of the purchase or sale transaction;
(2) Enter into any agreement to invest funds or sell securities for future delivery for a fee other than interest;
(3) Lend securities to any person or institution, except on a fully collateralized basis;
(4) Pay for any securities purchased by the investment officer until the investment officer has received physical possession, or other sufficient evidence, as determined under ORS § 293.751 (1), of title to the securities. However, the investment officer may instruct any custodial agent or bank to accept securities on the investment officer’s behalf against payment for the securities previously deposited with the custodial agent or bank by the investment officer; or
(5) Deliver securities to the purchaser of the securities upon sale prior to receiving payment in full for the securities. However, the investment officer may deliver the securities to any custodial agent or bank upon instructions to hold the securities pending receipt by the custodial agent or bank of full payment for the securities. [1981 c.880 § 11; 1991 c.88 § 6; 2007 c.871 § 27; 2008 c.18 2,3]