Oregon Statutes 352.135 – Use and investment of moneys; role of State Treasurer
(1) All moneys collected or received by a public university listed in ORS § 352.002, placed to the credit of the governing board of the public university and remaining unexpended and unobligated on July 1, 2014, or the date that the board is established, whichever is later, and all moneys collected or received by a public university after that date, may be:
Terms Used In Oregon Statutes 352.135
- 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.
- Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
- National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
(a) Deposited into one or more accounts established by the board in depositories insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration, and the governing board shall ensure that sufficient collateral secures any amount of funds on deposit that exceeds the limits of the coverage of the Federal Deposit Insurance Corporation or the National Credit Union Administration; or
(b) Held, kept, pledged, controlled, conveyed, managed, used, loaned, expended and invested as set forth in ORS § 352.087 and 352.102.
(2) Upon a request by the State Treasurer, a public university listed in ORS § 352.002 shall enter into a written agreement with the state that provides for the State Treasurer to receive, hold, keep, manage and invest any amounts under the control of the university that the State Treasurer determines should be held by the State Treasurer to provide for payment of state bonds and other state obligations that are to be paid from appropriations described in ORS § 352.089 (4), revenues of the university or other moneys under the control of the university. The agreement may, at the request of the State Treasurer, require the university to pay the costs incurred by the State Treasurer in connection with entering into and carrying out the agreement.
(3) Upon a request by a public university listed in ORS § 352.002, the State Treasurer may receive, hold, keep, manage and invest any or all moneys, appropriations, gifts, bequests or revenues of the university from any source in accordance with an agreement entered into between the State Treasurer and the university and with the policies and procedures established by the State Treasurer, including the recoupment of costs incurred by the State Treasurer in carrying out these tasks.
(4) As used in this section, ‘depository’ has the meaning given that term in ORS § 295.001. [2013 c.768 § 15; 2015 c.774 § 39; 2017 c.440 § 22; 2019 c.587 § 38]