Oregon Statutes 441.585 – Disposition of excess earnings; disposition of assets on dissolution
Current as of: 2023 | Check for updates
|
Other versions
The earnings of the authority in excess of the amount required for the retirement of indebtedness or the accomplishment of the purposes stated in ORS § 441.525 to 441.595 shall not inure to the benefit of any person or body other than the municipality creating the authority. Upon dissolution of an authority, any assets remaining after provision for payment of the obligations and expenses of the authority shall become the assets of the municipality. [1973 c.153 § 13; 1977 c.201 § 6]
Terms Used In Oregon Statutes 441.585
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100