Oregon Statutes 179.510 – Funds defined; deposit of funds of institution residents with State Treasurer
(1) The superintendent or state agency that possesses or controls funds that are the property of the residents of such institutions or that have been deposited for their use or for expenditure in their behalf shall deposit such funds, as they are received, together with any such funds as heretofore have accumulated, with the State Treasurer as a trust account, separate and distinct from the General Fund. Interest earned by the account shall be credited to the account.
Terms Used In Oregon Statutes 179.510
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
(2) The word ‘funds’ as used in ORS § 179.510 to 179.530 shall include, but shall not be limited to, moneys deposited with the superintendents or state agencies for medical care or assistance of residents, moneys derived from athletic activities, contributions for athletic, health, or recreation projects, and any other moneys received by the superintendents or state agencies that are not required by law to be credited to other state funds or accounts. [Formerly 179.710; 1969 c.597 § 46; 1979 c.683 § 5; 1989 c.966 § 3; 1991 c.271 § 1]