Section 294.890 – Board members serve without compensation; selection of chairperson.
(1) A member of the Oregon Short Term Fund Board shall serve without compensation. (2) The board shall select one of its members as chairperson, for a term and with the powers and duties necessary for the performance of the functions of the office as the board shall determine. [1973 c.748 §20]
Section 294.895 – Board duties, generally.
The Oregon Short Term Fund Board shall: (1) Advise the Oregon Investment Council and the investment officer in the management of the investment pool and in the investment of moneys deposited in the Oregon Short Term Fund established under ORS 293.728 and invested pursuant to ORS 293.701 to 293.857. (2) Review the rules promulgated by […]
Section 294.831 – Investment objective; limit on maturity dates.
(1) The investment officer shall seek to obtain a competitive return on investments of the investment pool subject to the standards set forth in ORS 294.835 and consistent with the liquidity requirements demanded by the short term nature of local government and tribal government deposits in the pool. (2) The investment officer shall at all […]
Section 294.835 – Standard of care; investment in certain stocks prohibited.
(1) In investing and reinvesting moneys in the investment pool and in acquiring, retaining, managing and disposing of investments of the investment pool there shall be exercised the judgment and care under the circumstances then prevailing, which individuals of prudence, discretion and intelligence exercise in the management of their own affairs, not in regard to […]
Section 294.840 – Investment policies; review; separate policies for individual public bodies.
Subject to the objective set forth in ORS 294.831 and the standards set forth in ORS 294.835, the Oregon Investment Council shall formulate policies for the investment and reinvestment of moneys in the investment pool and the acquisition, retention, management and disposition of investments of the investment pool. The council, from time to time, shall […]
Section 294.845 – Investment officer to invest, reinvest pool funds.
In amounts available for investment purposes and subject to the policies formulated by the Oregon Investment Council, the investment officer shall invest and reinvest moneys in the investment pool and acquire, retain, manage, including exercise of any voting rights, and dispose of investments of the investment pool. [1973 c.748 §10]
Section 294.847 – Prohibited conduct for investment officer.
In making investments pursuant to ORS 294.805 to 294.895, the investment officer may not: (1) Make a commitment to invest funds or sell securities more than 14 business days prior to the anticipated date of settlement of the purchase or sale transaction; (2) Enter into any agreement to invest funds or sell securities for future […]
Section 294.850 – Contracts with persons to perform investment functions; compensation; bond.
The Oregon Investment Council may enter into contracts with one or more persons whom the council determines to be qualified, whereby the persons undertake, in lieu of the investment officer, to perform the functions specified in ORS 294.845 to the extent provided in the contract. Performance of functions under contract so entered into shall be […]
Section 294.855 – Legal opinions; investment counseling services; mortgage services.
(1) In the acquisition or disposition of bonds with which approving legal opinions ordinarily are furnished, the investment officer may require an original or certified copy of the written opinion of a reputable bond attorney or attorneys, or the written opinion of the Attorney General, certifying to the legality of the bonds. (2) The Oregon […]
Section 294.860 – Custody of investment documents; collection and distribution of income; calculation and allocation of profit and loss; defaulted payments of principal and interest, collection, compromise.
(1) Except as provided in ORS 294.850 and this subsection, all instruments of title of all investments of the investment pool shall remain in the custody of the investment officer. The investment officer may deposit with one or more custodial agents or banks those instruments of title that the State Treasurer considers advisable, to be […]