Chapter 293 — Chapter 293
240 sections in this chapter.
ORS 293.802 [1995 c.811 §2; repealed by 1999 c.54 §2]
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[Repealed or reserved.]
ORS 293.803 Applicability of ORS 293.800 and 293.801; sufficient appropriation. (1) ORS 293.800 (2) to (5) and 293.801 apply only if the Legislative Assembly appropriates sufficient moneys to the State Treasurer, other than moneys described by ORS 293.718 or moneys in subject investment funds, to administer ORS 293.800 (2) to (5) and 293.801
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(2) Any costs incurred by the State Treasurer in administering ORS 293.800 (2) to (5) and 293.801 may not be paid from subject investment funds. [2024 c.79 §5] Note: See note under 293.798.
ORS 293.805 [1971 c.339 §2; repealed by 1975 c.363 §2]
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CLIMATE CHANGE RISKS
ORS 293.809 Management of climate change risks; reporting. (1) As used in this section
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(a) “Just transition” means efforts to ensure that the transition to a low-carbon economy is fair, collaborative and inclusive. (b) “Scope 1 emissions” means emissions from sources that a firm owns or controls directly. (c) “Scope 2 emissions” means emissions from the production …
ORS 293.810 [1981 c.880 §2; 1991 c.88 §4; 1993 c.18 §60; repealed by 1997 c.129 §4]
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INVESTING IN SUDAN
ORS 293.811 Short title. ORS 293.811 to 293.832 may be cited as the Oregon Human Rights and Anti-Genocide Act of 2005. [2005 c.774 §2]
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[Repealed or reserved.]
ORS 293.812 Definitions. As used in ORS 293.811 to 293.832
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(1) “Company” means any sole proprietorship, organization, firm, association, corporation, utility, partnership, venture, public franchise, franchisor, franchisee or its wholly owned subsidiary that exists for profit-making purposes or otherwise to secure economic advantage. (2) …
ORS 293.813 Findings. (1) The people of Oregon condemn the human rights abuses, enslavement and genocide in Sudan and declare these atrocities to be absolutely contrary to the fundamental principles of human rights and standards of justice and individual freedom
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(2) The Legislative Assembly finds: (a) The Congress of the United States has declared that genocide is occurring in the Darfur region of Sudan; (b) The National Black Caucus of State Legislators Resolution 05-144 declares that the atrocities unfolding in Darfur are genocide unde…
ORS 293.814 [2005 c.774 §5; repealed by 2013 c.722 §75]
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[Repealed or reserved.]
ORS 293.815 [2005 c.774 §6; repealed by 2013 c.722 §75]
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[Repealed or reserved.]
ORS 293.816 [2005 c.774 §7; repealed by 2013 c.722 §75]
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[Repealed or reserved.]
ORS 293.817 [2005 c.774 §8; repealed by 2013 c.722 §75]
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[Repealed or reserved.]
ORS 293.819 Investment in scrutinized companies. (1) The Oregon Investment Council and the State Treasurer, in the State Treasurer’s role as investment officer for the council, shall act reasonably and in a manner consistent with fiduciary standards, including the provisions of ORS 293.721 and 293.726, to try to ensure that managers who are engaged by the council or the State Treasurer for the active management of investment funds consisting of the Public Employees Retirement Fund referred to in ORS 238.660, through the purchase and sale of publicly traded equities, are not investing in publicly traded equities of any scrutinized company
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(2) Subsection (1) of this section does not apply to investment indirectly made through index funds, fund of funds or privately placed investments. [2013 c.722 §69]
ORS 293.820 [1981 c.880 §3; 2013 c.338 §13; renumbered 293.857 in 2013]
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[Repealed or reserved.]
ORS 293.822 [1991 c.902 §107; renumbered 293.861 in 2013]
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[Repealed or reserved.]
ORS 293.824 [1991 c.902 §108; 1997 c.129 §3; 2007 c.783 §116; renumbered 293.863 in 2013]
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[Repealed or reserved.]
ORS 293.825 Policy for engagement with investment managers with investments in scrutinized companies. (1) Consistent with fiduciary standards, including the provisions of ORS 293.721 and 293.726, the State Treasurer shall adopt a statement of policy that describes a process of engagement with managers who
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(a) Are engaged by the Oregon Investment Council or the State Treasurer for the active management of investment funds consisting of the Public Employees Retirement Fund referred to in ORS 238.660 through the purchase and sale of publicly traded equities; and (b) Have invested suc…
ORS 293.828 Notice on State Treasurer’s website. On or before March 15 of each year, the State Treasurer shall make available on the State Treasurer’s website a summary of actions taken during the previous year in accordance with ORS 293.811 to 293.832. The summary shall include a list of identified scrutinized companies. [2013 c.722 §71]
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[Repealed or reserved.]
ORS 293.830 [1987 c.193 §1; repealed by 1999 c.295 §1]
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[Repealed or reserved.]
ORS 293.832 Applicability of ORS 293.825 and 293.828; sufficient appropriation. ORS 293.825 (2) to (5) and 293.828 apply only if the Legislative Assembly appropriates sufficient moneys to the State Treasurer, other than moneys described by ORS 293.718 or moneys in the Public Employees’ Retirement Fund, to administer ORS 293.825 (2) to (5) and 293.828. [2013 c.722 §72]
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[Repealed or reserved.]
ORS 293.835 [1987 c.193 §3; 1991 c.135 §1; 1999 c.59 §77; repealed by 1999 c.295 §1]
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INVESTING IN IRAN
ORS 293.837 Definitions. As used in ORS 293.837 to 293.847
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(1) “Company” means any sole proprietorship, organization, firm, association, corporation, utility, partnership, venture, public franchise, franchisor or franchisee, or its wholly owned subsidiary, that exists for profit-making purposes or otherwise to secure economic advantage. …
ORS 293.839 Investment in scrutinized companies. (1) The Oregon Investment Council and the State Treasurer, in the State Treasurer’s role as investment officer for the council, shall act reasonably and in a manner consistent with fiduciary standards, including the provisions of ORS 293.721 and 293.726, to try to ensure that managers who are engaged by the council or the State Treasurer for the active management of investment funds consisting of the Public Employees Retirement Fund referred to in ORS 238.660, through the purchase and sale of publicly traded equities, are not investing in publicly traded equities of any scrutinized company
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(2) Subsection (1) of this section does not apply to investments indirectly made through index funds, fund of funds or privately placed investments. [2012 c.72 §3]
ORS 293.840 [1987 c.193 §2; 1991 c.135 §2; repealed by 1999 c.295 §1]
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[Repealed or reserved.]
ORS 293.841 Policy for engagement with investment managers with investments in scrutinized companies. (1) Consistent with fiduciary standards, including the provisions of ORS 293.721 and 293.726, the State Treasurer shall adopt a statement of policy that describes a process of engagement with managers who
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(a) Are engaged by the Oregon Investment Council or the State Treasurer for the active management of investment funds consisting of the Public Employees Retirement Fund referred to in ORS 238.660 through the purchase and sale of publicly traded equities; and (b) Have invested suc…
ORS 293.843 Notice on State Treasurer’s website. On or before March 15 of each year, the State Treasurer shall make available on the State Treasurer’s website a summary of actions taken during the previous year in accordance with ORS 293.837 to 293.847. The summary shall include a list of identified scrutinized companies. [2012 c.72 §5]
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[Repealed or reserved.]
ORS 293.845 [1987 c.193 §4; 1991 c.135 §3; repealed by 1999 c.295 §1]
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[Repealed or reserved.]
ORS 293.847 Applicability of ORS 293.841 and 293.843; sufficient appropriation. (1) ORS 293.841 (2) to (5) and 293.843 apply only if the Legislative Assembly appropriates sufficient moneys to the State Treasurer, other than moneys described in ORS 293.718, to administer ORS 293.841 (2) to (5) and 293.843
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(2) Any costs incurred by the State Treasurer in administering ORS 293.837 to 293.847 may not be paid from investment funds. [2012 c.72 §6]
ORS 293.850 [1987 c.193 §5; 1991 c.135 §4; repealed by 1999 c.295 §1]
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[Repealed or reserved.]
ORS 293.855 [1987 c.193 §6; 1991 c.135 §5; repealed by 1999 c.295 §1]
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INVESTING LOCAL FUNDS
ORS 293.857 Separate accounts for each local government; report; investment rules. (1) When the investment officer invests the funds of any county, municipality, school district or other political subdivision of this state or of a tribal government, the investment officer shall keep a separate account for each such governmental unit the funds of which are being invested
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(2) The investment officer shall report monthly to each such governmental unit the changes made during the preceding month in the investments for the account of that governmental unit. The monthly reports shall be provided to the governmental units within 30 days after the end of…
ORS 293.860 [1987 c.193 §7; 1991 c.135 §6; repealed by 1999 c.295 §1]
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INVESTMENT POOLS
ORS 293.861 Investment pools authorized. The Legislative Assembly recognizes that changes in federal arbitrage regulations have imposed substantial additional financial and administrative burdens on state agencies and local governments which issue tax-exempt obligations. The impact of these burdens is exacerbated by the fiscal restrictions placed on these agencies and governments by section 11b, Article XI of the Oregon Constitution. The Legislative Assembly finds that it will benefit the citizens of the state to authorize the State Treasurer to create one or more investment pools which are designed to reduce these burdens of compliance with federal arbitrage rules. [Formerly 293.822]
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[Repealed or reserved.]
ORS 293.863 Investment pool procedures; duties of State Treasurer. (1) As used in this section
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(a) “Council” means the Oregon Investment Council. (b) “Investor” means an entity which deposits proceeds with the State Treasurer for investment in a pool. (c) “Pool” means a fund or account established by the State Treasurer for the investment of proceeds for one or more invest…
ORS 293.865 [1987 c.193 §8; 1991 c.135 §7; repealed by 1999 c.295 §1]
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[Repealed or reserved.]
ORS 293.867 [1991 c.135 §9; repealed by 1999 c.295 §1]
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[Repealed or reserved.]
ORS 293.870 [1987 c.193 §10; repealed by 1999 c.295 §1]
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CASH MANAGEMENT
ORS 293.875 State Treasurer as state banking and cash management officer; duties; preemption of conflicting laws. (1) The State Treasurer is designated the sole banking and cash management officer for the state and may review, establish and modify procedures for the efficient handling of moneys under the control of the State Treasury, the Secretary of State, the Judicial Department, the Legislative Assembly and state agencies as defined in ORS 291.002. The State Treasurer shall perform all activities necessary or desirable to fulfill the duties of the treasurer as the banking and cash management officer. The activities may include, but are not limited to, entering into contracts for the provision of services related to the management, deposit and transfer of, or payment from, moneys deposited with the State Treasurer through banks and other financial institutions. The deposit, transfer or payment may be through physical presentation or drafting of an instrument or document by electronic or other means
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(2) The State Treasurer shall continuously review the effectiveness of the cash management of state agencies, the Secretary of State, the Judicial Department and the Legislative Assembly, and when the State Treasurer considers it appropriate shall report in writing to the subject…
ORS 293.880 Accounts and funds established to comply with federal legislation relating to state and federal cash management reform. The State Treasurer may establish accounts, and the Oregon Department of Administrative Services may establish funds, as needed to comply with the requirements of federal legislation relating to the state and federal cash management reform. These accounts and funds shall be separate and distinct from the General Fund. Interest earned, if any, shall inure to the benefit of the account or fund. Moneys in these accounts and funds are continuously appropriated for the following purposes
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(1) To the extent authorized by federal legislation, administrative expenses of the department, the State Treasurer and the Division of Audits of the Secretary of State in the performance of their duties relating to the program known as the state and federal cash management refor…
ORS 293.990 Penalties. (1) Any person, official or state agent violating ORS 293.265 to 293.280 or failing to comply with any of the requirements of those sections within the time provided shall be liable on the official bond of the person, officer or state agent and commits a Class A misdemeanor
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(2) In addition to civil liability, violation of ORS 293.620 is a Class A violation. [Formerly 291.990 (2), (3); 1971 c.743 §353; 1997 c.761 §12; 1999 c.1051 §173; 2011 c.597 §178] _______________