Oregon Statutes 116.143 – Interest on pecuniary devises
(1) As used in this section, ‘discount rate’ means the auction average rate on 91-day United States Treasury bills, as established by the most recent auction of these Treasury bills and as reported by the United States Department of the Treasury, Bureau of the Public Debt. The discount rate shall be determined, with reference to the most recent auction date, before May 15 and before November 15 of each year.
Terms Used In Oregon Statutes 116.143
- Public debt: Cumulative amounts borrowed by the Treasury Department or the Federal Financing Bank from the public or from another fund or account. The public debt does not include agency debt (amounts borrowed by other agencies of the Federal Government). The total public debt is subject to a statutory limit.
- United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100
(2) General pecuniary devises not entitled to a share of income under ORS § 116.007 (2) bear interest payable from the residuary estate at the discount rate for a period beginning one year after the first appointment of a personal representative until payment, unless a contrary intent is evidenced in the will or unless otherwise ordered by the court. [1969 c.591 § 181; 2005 c.125 § 1]
[Repealed by 1969 c.591 § 305]
[Repealed by 1969 c.591 § 305]