Oregon Code § 578.155·Enacted ·Last updated March 01, 2026
Statute Text
Commission financial activity.
(1) Moneys that a person collects or receives from an assessment levied by the
Oregon Wheat Commission and other moneys that the commission receives must be
paid to the authorized agent of the commission and, except as provided under
subsection (3) of this section, promptly deposited into an account established
in accordance with ORS 295.001 to 295.108.
(2) Subject to
approval by the Director of Agriculture, the commission may invest moneys the
commission collects or receives. Except as provided in subsection (3) of this
section, investments the commission makes are:
(a) Limited to
investments described in ORS 294.035;
(b) Subject to
the investments maturity date limitations described in ORS 294.135; and
(c) Subject to
the conduct prohibitions listed in ORS 294.145.
(3) In addition
to or in lieu of investments described in subsection (2) of this section, the
commission may invest in the investment pool described in ORS 294.805. For
purposes of ORS 294.805 to 294.895, the commission is a public corporation and
the secretary-treasurer of the commission is a local government official.
(4) Interest
earned from any moneys a commission deposits or invests under this section is
available to the commission in a manner consistent with the commissions annual
budget.
(5) Moneys may
not be withdrawn from or paid out of an account established by the commission
except upon order of the commission, and upon checks or other orders on the
account that are signed by the secretary-treasurer or by another commission
member designated by the commission and countersigned by the chairperson or
vice chairperson or by another member designated by the commission. The
secretary-treasurer of the commission shall keep a receipt, voucher or other
written record, showing clearly the nature and items covered by each check or
other order. [2013 c.93 §5; 2019 c.587 §48]