Oregon Statutes 526.036 – Fidelity bonds
(1) Before entering upon the duties of office, the forester shall furnish a fidelity bond in favor of the State of Oregon in the penal sum of $100,000 issued by one or more corporate sureties authorized to do business in the State of Oregon, conditioned upon the faithful and honest handling and disposition of the moneys in the State Forestry Department Account and any other moneys in the hands of the forester. The bond and sureties are subject to approval by the Director of the Oregon Department of Administrative Services as provided in ORS § 291.011.
Terms Used In Oregon Statutes 526.036
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Board: means the State Board of Forestry. See Oregon Statutes 526.005
- Department: means the State Forestry Department. See Oregon Statutes 526.005
- Forester: means the State Forester or the authorized representative of the forester. See Oregon Statutes 526.005
(2) The premium for the bond shall be paid from the appropriation of the State Board of Forestry.
(3) Except as provided in subsection (1) of this section, the board may require a fidelity bond, with one or more corporate sureties authorized to do business in this state, of any officer or employee of the State Forestry Department. The board shall fix the amount of the bond, which otherwise is subject to subsections (1) and (2) of this section. [Formerly 526.070; 1967 c.419 § 16]
[Repealed by 1953 c.43 § 2]