Oregon Statutes 278.150 – Special Liability Revolving Fund; accounting for moneys disbursed
(1) The Oregon Department of Administrative Services may draw a warrant on the State Treasury for the sum of $75,000 payable out of the Insurance Fund. The amount drawn shall be credited to a Special Liability Revolving Fund which shall be carried with the State Treasury, separate and distinct from the General Fund, and shall be used by the department when it is necessary or desirable to make immediate payments on liability claims. Interest earned by the fund shall be credited to the fund.
Terms Used In Oregon Statutes 278.150
- Department: means the Oregon Department of Administrative Services. See Oregon Statutes 278.005
- 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
(2) The department shall file at least once each month a verified voucher covering current disbursements from the Special Liability Revolving Fund. The voucher shall be accompanied by an itemized statement showing the names of the persons, firms or corporations to whom and the purposes for which the disbursements were made.
(3) Upon receipt of the voucher, the department shall draw a warrant on the State Treasury in favor of the department payable out of the Insurance Fund. The amount drawn shall be deposited in the Special Liability Revolving Fund and shall be for a sum sufficient only to replenish the Special Liability Revolving Fund. [1981 c.109 § 20; 1985 c.731 § 17; 1989 c.966 § 12; 1993 c.500 § 28]
278.150 was added to and made a part of ORS Chapter 278 by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.
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