Oregon Administrative Code

170-145-0030 Service Charges and Interest on Deposit Accounts (1) With respect to any demand, savings or matured time deposit with a Financial Institution, including a deposit that is automatically renewable, and any funds paid toward the purchase of a share, mutual investment ce…

170-145-0035 Holder Request for Reimbursement If a Holder pays or delivers Property to an Owner or the Holder overpaid or made an error when remitting property to the Treasurer, the Holder may request reimbursement from the Treasurer. The Holder must provide to the Treasurer suff…

170-145-0040 Holder Examinations Every Person receiving at least 10 business days written notice is subject to an Examination by the Treasurer: (1) The Person subject to an Examination must provide all records, without redaction or omission, necessary to determine whether the Per…

170-145-0045 Records Maintenance, Retention, and Disclosure (1) The Holder is responsible for the content, accuracy, and timeliness of the reports and retention of all records associated with the reports as defined in ORS 98.354 whether the report is filed by the Holder or anothe…

170-145-0050 Request for Collaborative Dispute Resolution (1) Either the Holder or the Treasurer may request the other to engage in a collaborative dispute resolution process when the findings or decision are based on estimates as described in ORS 98.412(4). Both parties must agr…

170-145-0055 Requesting a Contested Case Hearing (1) A Person who disagrees with any proposed decision issued by the Treasurer under this chapter 170, division 145 may request a contested case hearing. (2) The request must be: (a) Received within 60 days of the date of the Treasu…

170-145-0100 Voluntary Disclosure Program (1) The Voluntary Disclosure Program allows a Holder to come into compliance with the reporting and delivery of Property presumed abandoned under ORS 98.302 to 98.436 and these rules without interest or penalty under ORS 98.416(2) and ORS…

171-001-0000 Notice of Proposed Rulemaking Prior to adoption, amendment, or repeal of any rule, the Oregon Investment Council shall give notice of its intention to adopt, amend, or repeal any rule, not less than 15 days prior to the date of the proposed action: (1) In the Secreta…

171-001-0005 Model Rule of Procedure Pursuant to ORS 183.341(2), the Oregon Investment Council adopts the Attorney General’s Uniform and Model Rules of Procedure of January 27, 1986 by reference. [ED. NOTE: The full text of the Attorney General’s Model Rules of Procedure is avail…

171-002-0000 Public Records Pursuant to ORS 192.420 through 192.505, the Oregon Investment Council: (1) May charge the following fees for certification or copying of any public records in the Oregon State Treasury’s custody not otherwise exempt from disclosure: (a) For each certi…

172-001-0005 Model Rules of Procedure The Model Rules of Procedure under the Administrative Procedure Act, as promulgated by the Attorney General of the State of Oregon, effective as of February 12, 2010, are adopted as the rules of procedure for administrative rulemaking and oth…

172-005-0000 Form of Application for Financing Any participating institution desiring to obtain financing for a project through the Authority shall file with the Executive Director an application in the manner and form approved by the Authority, which shall be accompanied by a no…

172-005-0010 Processing of Applications (1) Upon receipt of a substantially complete application for financing and review thereof by the Executive Director and the Authority's financial advisor and bond counsel, the Executive Director shall, at the earliest practicable time, call…

172-005-0020 Consideration of Application by the Authority (1) At the meeting for which an application has been placed on the agenda, the Authority shall consider whether to approve or disapprove such application; provided that action by the Authority on an application may be def…

172-005-0030 Preliminary Agreement Immediately following approval of an application by the Authority and the Treasurer, the Executive Director, acting for and on behalf of the Authority, and the participating institution filing such application shall execute and deliver a prelimi…

172-005-0040 Approval of Financing by Authority; Issuance of Bonds; Single Meeting Approval Process (1) Except as provided in OAR 172-005-0040(2), at such time as the Executive Director determines that all legal and other requirements for the issuance of bonds to finance a propos…

172-005-0045 Post-Issuance Compliance It is the policy of the Authority that participating institutions have appropriate written procedures in place at the time of issuance to ensure post issuance compliance with applicable federal tax and securities law requirements. A participa…

172-005-0050 Investment Grade Bonds; Agent for Disclosure Purposes (1)(a) It is the policy of the Authority that all bonds proposed to be sold pursuant to a public offering shall have received an investment grade rating at the time of issuance and if such investment grade rating …

172-005-0060 Definition of Low Income For purposes of bonds issued to finance any housing project, the term "low income" shall mean persons or families whose household income is not greater than eighty percent of the median income for the relevant area in which the project is to …

172-005-0065 Fees (1) The Authority shall collect the fees set forth in OAR 172-005-0065(2) and (3) from an applicant that seeks to have a project declared eligible for financing. The fee identified in OAR 172-005-0065(2) may be collected even though the project has not been dete…

172-005-0070 Waiver of Requirements Upon the recommendation of the Executive Director or at the request of any member of the Authority, the Authority may, in its discretion, waive any of the requirements of these administrative rules to the extent such requirements are not otherw…

173-001-0000 Notice Rule for Rulemaking Before adopting, amending or repealing any permanent rule, the Board will give notice of the intended action: (1) In the Secretary of State's Bulletin referred to in ORS 183.360 at least 21 days before the effective date of the rule; (2) By…

173-001-0005 Model Rules of Procedure The Model Rules of Procedure under the Administrative Procedure Act, as promulgated by the Attorney General of the State of Oregon, effective January 1, 2008, are adopted as the rules of procedure for administrative rulemaking and other admin…

173-001-0010 ADR Related Model Rules The Attorney General's ADR Related Model Rules, effective January 1, 2008, as set forth in OAR 137, divisions 1 through 5, are adopted by the Board as its rules for collaborative dispute resolution. Statutory/Other Authority: ORS 183.502(3) St…

173-001-0015 Confidentiality and Inadmissibility of Mediation Communications (1) The words and phrases used in this rule have the same meaning as given to them in ORS 36.110 and 36.234. (2) Nothing in this rule affects any confidentiality created by other law. Nothing in this rul…

173-001-0020 Policies and Procedures of the Office of the Treasurer The policies and procedures of the Office of the State Treasurer in regard to personal services contracting and purchasing goods and services, to the extent not inconsistent with the Act or OAR chapter 173, are a…

173-005-0000 Definitions All terms used in OAR chapter 173 are as defined in the Act. In addition, as used in OAR chapter 173, unless the context indicates otherwise: (1) “College Savings Plan” means a qualified 529 plan as defined by the Code and ORS 178.300 (2) “ABLE Plan” mean…

173-005-0005 Executive Director The Executive Director is responsible for the day to day operations of the network and for carrying out such duties and responsibilities as assigned by the board. Statutory/Other Authority: ORS 348.853(2) Statutes/Other Implemented: ORS 348.853(2) …

173-006-0000 Account Owner Any person, including a custodian under UGMA/UTMA, who is legally able to contract under applicable state law and who meets federal and state legal requirements governing the network, is eligible to establish an account. Statutory/Other Authority: ORS 3…

173-006-0005 Designated Beneficiary (1) For a College Savings Plan, there are no restrictions on the age of a designated beneficiary nor any required relationship between the account owner and the designated beneficiary of an account. (2) For an ABLE Plan the beneficiary and the …

173-007-0000 Change of Account Ownership (1) For all Network Plans, an account owner may designate a successor account owner if allowed by a plan and must follow procedures required by the appropriate plan. (2) For all Network Plans, if a change in the ownership of an account is …

173-007-0005 Change of Designated Beneficiary For all Network Plans, an account owner (other than an account owner who is a custodian under UGMA/UTMA) may change the designated beneficiary of the account as permitted under the Code and OAR chapter 173. A change of designated bene…

173-008-0000 Opening an Account (1) For all Network Plans, to open an account, an applicant must complete the appropriate plan application, and designate a contribution method as required by the appropriate plan. (2) For all Network Plans, an applicant must select from the invest…

173-008-0005 Refusal to Open an Account For all Network Plans, the Board may refuse to open an account for reasons that may include but are not limited to the following: (1) The applicant is not an eligible account owner. (2) The applicant has not provided all of the information …

173-008-0010 Participation Agreement (1) For all Network Plans, an account owner must enter into a participation agreement for each account by completing and signing an application, which incorporates the participation agreement by reference or requires that the account owner ack…

173-009-0000 Contributions Generally (1) For all Network Plans, the minimum initial contribution that must be made to an account at the time the account is opened will be specified by the appropriate plan, except that the minimum initial contribution requirement for a plan may be…

173-009-0005 Cash Contributions Only For all Network Plans, contributions to an account shall be made in cash only. Cash includes checks, electronic funds transfers, and such other methods as the board determines and as permitted under applicable law. Cash does not include securi…

173-009-0010 Rollover Contributions (1) Any person who is an account owner under another qualified tuition program or qualified ABLE program may rollover, subject to the Code, the Act and the terms of such other qualified tuition program or qualified ABLE program, all or part of …

173-009-0015 Maximum Contribution Limit (1) Additional contributions to an account for a designated beneficiary are prohibited when the total account balance for all accounts for that designated beneficiary under the network exceeds the amount established by the Board as required…

173-010-0000 Distribution Request (1) For a College Savings Plan, only the account owner may request a distribution of funds (whether for a qualified withdrawal, a nonqualified withdrawal, or otherwise) from an account by submitting to the appropriate plan a completed distributio…

173-010-0025 Rollover Distribution and Fund Transfers Rollovers and transfers within the network will be permitted only to the extent permitted by the Code. Statutory/Other Authority: ORS 348.853(2) Statutes/Other Implemented: ORS 348.867(2) & 348.853(2) History: OSB 1-2016, f. &…

173-011-0000 Termination of an Account (1) For all Network Plans, the account owner may terminate an account at any time. The board may terminate an account in accordance with the provisions of the participation agreement or in accordance with the Act or OAR chapter 173. If the b…

173-012-0000 Board Administration Fees For all Network Plans, the board may charge fees to account owners in order to pay for the board's and the network’s administrative expenses. Fees shall be collected on a predetermined basis and be paid to the board and the network. The boar…

173-012-0005 Other Fees The plan manager for each network plan may charge such fees as are agreed to between the plan manager and the board, which fees may be payable by the account owners or from the assets of the appropriate plan. Statutory/Other Authority: ORS 348.853(2) Statu…

173-014-0000 Investment Policies The Board shall establish investment policies for the Network Plans. These policies shall be reviewed, and may be modified, from time to time as the Board, in its sole discretion, determines. Any change to a plan’s investment policy shall apply pr…

173-014-0005 Reassignment of Accounts under the Age-Based and Years-to-College Investment Options For all Network Plans, investment direction by the account owner or designated beneficiary of an account is prohibited unless otherwise permitted by the Code. Statutory/Other Authori…

173-014-0010 Investment Direction Investment direction by the account owner or designated beneficiary of an account is prohibited unless otherwise permitted by section 529. Statutory/Other Authority: ORS 348.853(2) Statutes/Other Implemented: ORS 348.841 - 348.873 History: OSB 1-…

173-015-0010 Confidentiality Individual account information, including, but not limited to, names, addresses, telephone numbers, personal identification information, amounts contributed and earnings on amounts contributed, shall be maintained as confidential, and may be disclosed…

173-016-0010 Waivers The executive director may waive non statutory requirements of OAR chapter 173 if such a waiver would serve the best interests of the network and the board and would not violate the Code. Statutory/Other Authority: ORS 348.853(2) Statutes/Other Implemented: O…

177-010-0000 General (1) Applicability: Unless the context requires otherwise, the definitions contained in this division are generally applicable throughout OAR chapter 177. Specific divisions may contain the definitions of words specific to that division. In the event of a conf…