Oregon Statutes 407.165 – Authority to hold certain funds received from borrower
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The Department of Veterans’ Affairs may receive and hold for future disposition conditional payments from borrowers who have executed mortgages or trust deeds under authority of ORS § 407.225, indemnities for fire losses on secured property, and such other sums as must be held by the department in suspense pending further or final disposition thereof. Said funds shall be deposited in the State Treasury in the revolving account authorized by ORS § 407.565 until they can be properly applied to the purposes for which they were paid to and received by the department. [Formerly 407.120; 2005 c.625 § 23; 2019 c.223 § 7]
Terms Used In Oregon Statutes 407.165
- State Treasury: includes those financial assets the lawful custody of which are vested in the State Treasurer and the office of the State Treasurer relating to the custody of those financial assets. See Oregon Statutes 174.100