As used in ORS 293.701 to 293.857, unless the context requires otherwise: (1) “Council” means the Oregon Investment Council. (2) “Investment funds” means: (a) Public Employees Retirement Fund referred to in ORS 238.660; (b) Industrial Accident Fund referred to in ORS 656.632; (c) Consumer and Business Services Fund referred to in ORS 705.145; (d) Employment […]
(1) There is created the Oregon Investment Council, consisting of five voting members and one nonvoting member. (2) The Governor shall appoint four voting members, subject to Senate confirmation in the manner provided in ORS 171.562 and 171.565. The members appointed by the Governor must be qualified by training and experience in the field of […]
(1) As used in this section: (a) “Business” has the meaning given that term in ORS 244.020. (b) “Business with which the person is associated” has the meaning given that term in ORS 244.020. (c) “Relative” has the meaning given that term in ORS 244.020. (2) When a person who is a member of the […]
(1) Except as provided in subsection (2) of this section, a member of the Oregon Investment Council is entitled to compensation and expenses as provided in ORS 292.495. (2) A member of the council who is also a member of the Public Employees Retirement Board is entitled to compensation and expenses as provided in ORS […]
The chairperson of the Oregon Investment Council, after consultation with the State Treasurer, shall prescribe continuing education requirements for members of the council. Such continuing education requirements must relate to fiduciary duties, best practices or both. [2017 c.500 §10] Note: 293.712 was enacted into law by the Legislative Assembly but was not added to or […]
A member of the Oregon Investment Council is prohibited from accepting compensation for service, except per diem and reimbursement for travel expenses, on the board of directors of any business in which the state has an equity interest, other than publicly traded common stock. [1993 c.718 §3] Note: 293.713 was enacted into law by the […]
(1) Notwithstanding ORS 192.650 (1) and (2), full sound recordings shall be made of every meeting of the Oregon Investment Council. The full sound recordings shall be produced on equipment selected by the Oregon Investment Council for compatibility with equipment for reproduction by the State Archives. (2) The council shall maintain a written log of […]
(1) The State Treasurer is the investment officer for the Oregon Investment Council, and shall perform functions in that capacity as authorized or required by law and, consistent with law, by the council. (2) The bond of the State Treasurer required from the State Treasurer by law shall be deemed to extend to the faithful […]
As payment for expenses of the investment officer, the State Treasurer may deduct monthly a maximum of 0.25 basis points of the most recent market value of assets under management for each of the investment funds. However, for the funds described in ORS 293.701 (2)(n), a maximum of 0.435 basis points may be deducted monthly. […]
Moneys in the investment funds shall be invested and reinvested to achieve the investment objective of the investment funds, which is to make the moneys as productive as possible, subject to the standard set forth in ORS 293.726. [1967 c.335 §6]
(1) Moneys in a fund established by law may not be discretely invested unless the law establishing the fund specifically indicates that the moneys may be invested. A provision in a law establishing a fund that requires interest earned by the fund to be retained by the fund is not, by itself, a specific indication […]
(1) The investment funds shall be invested and the investments of those funds managed as a prudent investor would do, under the circumstances then prevailing and in light of the purposes, terms, distribution requirements and laws governing each investment fund. (2) The standard stated in subsection (1) of this section requires the exercise of reasonable […]
(1) The Oregon Short Term Fund is established in the State Treasury as a commingled investment vehicle for investment funds and the moneys described in subsection (2) of this section. Interest earned by the Oregon Short Term Fund shall be credited to the participating investor funds or accounts in the fund in proportion to the […]
Subject to the objective set forth in ORS 293.721 and the standards set forth in ORS 293.726, the Oregon Investment Council shall formulate policies for the investment and reinvestment of moneys in the investment funds and the acquisition, retention, management and disposition of investments of the investment funds. The council, from time to time, shall […]
(1) In making and implementing investment decisions related to venture capital, the Oregon Investment Council and the investment officer have a duty to look first at Oregon opportunities for diversification unless, under the circumstances, it is not prudent to do so. (2) At any given time, the council shall have at least $100 million in […]
The Oregon Investment Council shall submit an annual report to the Speaker of the House of Representatives and the President of the Senate detailing the investments and commitments made by the council in accordance with ORS 293.733. [2003 c.606 §5] Note: 293.734 was enacted into law by the Legislative Assembly but was not added to […]
(1) Except as provided in ORS 293.741, 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 funds and acquire, retain, manage, including exercise of any voting rights, and dispose of investments of the investment funds. (2) […]
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 or in addition to the investment officer, to perform the functions specified in ORS 293.736 to the extent provided in the contract. Performance of functions under a contract […]
(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 […]
(1) Except as provided in ORS 293.741 and this subsection, all instruments of title of all investments of the investment funds 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 […]
