Oregon Statutes 657B.190 – Employers security for payment of contributions
(1) If, upon satisfactory evidence, the Director of the Employment Department finds it necessary for the protection of the Paid Family and Medical Leave Insurance Fund established under ORS § 657B.430, the director may require any employer subject to this chapter, other than the state of Oregon, and every state officer, board, commission, department, institution, branch, agency or political subdivision of this state, to deposit and keep on deposit with the director a sum equal to the contributions due or estimated to be due from the employer for a period of three calendar quarters.
Terms Used In Oregon Statutes 657B.190
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- contributions: means the money payments made by any of the following under ORS § 657B. See Oregon Statutes 657B.010
- Employer: means any person that employs one or more employees working anywhere in this state or any agent or employee of such person to whom the duties of the person under this chapter have been delegated. See Oregon Statutes 657B.010
- 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.
- 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
- Medical leave: means leave from work taken by a covered individual that is made necessary by the individual's own serious health condition. See Oregon Statutes 657B.010
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(2)(a) In lieu of a deposit required under subsection (1) of this section, the director may accept a bond or an irrevocable letter of credit issued by an insured institution as defined in ORS § 706.008 in a form acceptable to the director to secure payment of contributions to become due to the fund.
(b) The deposit or posting of a bond or letter of credit under paragraph (a) of this subsection shall not relieve the employer of the obligation to make contributions to the fund as provided under ORS § 657B.150.
(c) The director may at any time apply any portion of the deposit, payment on the bond or the proceeds of the letter of credit to the payment of any amounts due from the employer under any provisions of this chapter.
(3)(a) Except as provided in subsection (4) of this section, any deposit, bond or letter of credit shall be deemed for all purposes to become the sole property of the director and shall be deposited in the fund and held for the sole benefit of the fund.
(b) The deposit, bond or letter of credit shall be prior to all other liens, claims or encumbrances and shall be exempt from any process, attachment, garnishment or execution whatsoever and shall be for the sole benefit of the fund.
(4)(a) If an employer ceases to be an employer subject to this chapter, such sums as are on deposit in the fund shall first be applied to any amounts due from the employer to the fund under any provisions of this chapter.
(b) Only upon receipt of all payments due to the fund from an employer described in paragraph (a) of this subsection, the director shall refund to the employer all deposits remaining to the employer’s credit in the fund and shall cancel any bond or letter of credit given under this section.
(c) An employer described in paragraph (a) of this subsection shall have no interest in a deposit, bond or letter of credit prior to full compliance with this section and all provisions of this chapter. [2019 c.700 § 23]