Oregon Statutes 586.527 – Settlement of claims against defaulting warehouseman
(1) If the State Department of Agriculture considers the appointment of a receiver or other action provided by ORS § 586.525 inadvisable or inexpedient in the case of depositors of grain in a public warehouse operated by a warehouseman who is in default as to any condition of bond, it may obtain settlement for such depositors as provided in this section.
Terms Used In Oregon Statutes 586.527
- 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.
- 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.
- Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
(2) The department shall:
(a) Give reasonable notice to persons holding warehouse receipts or other evidence of deposit issued by the defaulting warehouseman, to file claims with the department.
(b) Fix a reasonable time within which such filing shall be done.
(c) Investigate each claim so filed and reasonably verify the circumstances under which the claims accrued and the good faith of the claimants.
(3) With the approval of the claimants who filed claims, the department may settle such claims with the surety without filing legal action. Such settlement unless appealed to the circuit court within 30 days as provided by law, is final between the surety and all claimants covered by the bond.
(4) If any claimant or the surety does not agree with the findings of the department, the department shall file a declaratory judgment action without right to jury trial in the circuit court in the name of the State of Oregon for the benefit of the claimants as authorized by ORS Chapter 28. Unless appealed as prescribed by law, the order of the court shall be final between the surety and all claimants covered by the bond. [1961 c.445 § 19; 1979 c.284 § 177]