Oregon Code § 332.437·Enacted ·Last updated March 01, 2026
Statute Text
Insurance reserve fund.
Any school district board by resolution may establish an insurance reserve fund
by making transfers from the districts general fund. Transfers to the
insurance reserve fund shall be included in the district budget prepared and
published in accordance with ORS 294.305 to 294.565. If at any time conditions
arise which dispense with the necessity for further transfers to or
expenditures from a fund established pursuant to this section, the district
board shall so declare by resolution. The resolution shall order the balance
remaining in such fund to be transferred to the general fund of the district
and shall declare the insurance reserve fund closed. [1971 c.599 §1; 1975 c.770
§23]