(1) After the Water Resources Commission issues a certificate for an in-stream water right under ORS § 537.341 to 537.348, the in-stream water right shall have the same legal status as any other water right for which a certificate has been issued.

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(2) An in-stream water right is not subject to cancellation under ORS § 537.260 or 537.410 to 537.450 but an in-stream water right may be canceled under ORS § 540.610 to 540.650. [1987 c.859 § 10]