Oregon Statutes 293.090 – Disposition of gift, devise or bequest to state or state agency
All property given, devised or bequeathed to the State of Oregon or to any state agency as defined in ORS § 293.235 shall belong to the state and shall be devoted to the agency or purpose specified in the terms of the gift, devise or bequest. A grant to a particular agency, not otherwise specifying the purpose of the grant, shall be deemed made for the purpose of carrying out any function with which the agency is charged by law at the time the grant is made. When the grant is not made to a specific agency or the purpose of the grant is not otherwise stated, title thereto and the proceeds therefrom shall become a part of the Common School Fund, to be administered in accordance with Article VIII of the Oregon Constitution. [1979 c.143 § 1]
Terms Used In Oregon Statutes 293.090
- Bequest: Property gifted by will.
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
293.090 and 293.095 were enacted into law by the Legislative Assembly but were not added to or made a part of ORS Chapter 293 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.