Oregon Code § 278.425·Enacted ·Last updated March 01, 2026
Statute Text
Insurance Fund; uses.
(1) There is established an Insurance Fund as a separate fund in the State
Treasury, separate and distinct from the General Fund, which shall be used to
provide insurance and self-insurance for the State of Oregon under this
chapter, and for participating local public bodies under ORS 30.282 and 278.125
to 278.215. The moneys in the Insurance Fund may be invested as provided in ORS
293.701 to 293.857 in investment funds as defined in ORS 293.701 which
includes the Insurance Fund. Interest earned by the fund shall be credited to
the fund.
(2) The Insurance
Fund shall be administratively separated to assure individual accountability of
the state and local public body liability insurance programs under ORS 30.282
and 278.125 to 278.215 and the state property insurance program under this chapter.
(3) All moneys
arising from the operation of this section and ORS 278.405, 278.415 and 278.435
and the provisions of this chapter and ORS 30.260 to 30.300 and 278.322 shall
be set aside by the State Treasurer and credited to the Insurance Fund. The
moneys in the Insurance Fund are continuously appropriated to the Oregon
Department of Administrative Services to administer the provisions of this
chapter and ORS 30.260 to 30.300 and 278.322. [1985 c.731 §4; 1989 c.966 §13]