Oregon Statutes 273.108 – Unclaimed Property School Fund; use by State Treasurer
(1) There is established the Unclaimed Property School Fund within the Common School Fund.
Terms Used In Oregon Statutes 273.108
- Board: means the State Land Board. See Oregon Statutes 273.006
- Land: includes water, water rights, easements of every nature and all appurtenances to land. See Oregon Statutes 273.006
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
(2) The Unclaimed Property School Fund consists of:
(a) Moneys appropriated or transferred to the fund by the Legislative Assembly or by act of law; and
(b) Moneys transferred to the fund from the Unclaimed Property and Estates Fund under ORS § 98.389.
(3) Moneys in the Unclaimed Property School Fund are continuously appropriated to the State Treasurer for the treasurer’s costs of administering the fund.
(4) The State Treasurer may transfer from the fund to the Unclaimed Property and Estates Fund amounts necessary to pay any unanticipated expenses payable from the Unclaimed Property and Estates Fund.
(5) Interest earned by the Unclaimed Property School Fund is credited to the fund. Before July 1 of each year, the State Treasurer, with the approval of the State Land Board, shall transfer any interest of the fund that exceeds the net liabilities of the fund to the Distributable Income Account of the Common School Fund under ORS § 273.105. [2021 c.424 § 3]
[Amended by 1967 c.421 § 57; renumbered 273.285]
[Formerly 274.300; 1969 c.594 § 9; repealed by 2005 c.755 § 59]