Or. Admin. Code § 410-141-5100 - ASSET VALUATION AND PERMITTED INVESTMENTS: Investments Used to Provide Compensating Balances

Investments of a CCO of the kind described in OAR 410-141-5105(2) that are made for the purpose of providing compensating balances for other persons will not be prohibited by OAR 410-141-5140 while the following conditions are met:

(1) The investment is made in the name of and remains the sole property of the CCO;

(2) The investment is not subject to appropriation in any manner by any person, including the person for whom the compensating balance is being provided, the institution in which the deposit is made and other creditors of such persons;

(3) The CCO holds an irrevocable written waiver from the depositary institution, in a form satisfactory to the Authority, waiving all right, title and interest in or to any setoff, banker's or similar lien or other security interest in such investment or any funds represented thereby;

(4) The investment is unrestricted as to right of withdrawal except for such restrictions as may be usual and customary for such investments under OAR 410-141-5105(2) when no compensating balance is involved; and

(5) The CCO receives a reasonable fee, taking into consideration its return on other funds, for providing the compensating balance involved.

Notes

Or. Admin. Code § 410-141-5100

DMAP 58-2019, adopt filed 12/18/2019, effective 1/1/2020; DMAP 143-2024, amend filed 12/29/2024, effective 1/1/2025

Statutory/Other Authority: ORS 413.042, 414.572, 414.591 & 414.605

Statutes/Other Implemented: ORS 414.570-414.686 & 415.001-415.430