Oregon Administrative Rules
Chapter 123 - OREGON BUSINESS DEVELOPMENT DEPARTMENT
Division 18 - CAPITAL ACCESS PROGRAM
Section 123-018-0060 - Ownership, Control, Investment of Loss Reserve Account
Current through Register Vol. 63, No. 9, September 1, 2024
(1) All moneys in a Loss Reserve Account are the exclusive property of the State of Oregon, acting by and through the Department, and are controlled solely by the Department. The Department may withdraw funds from a Loss Reserve Account only as described in this division of administrative rules or as contained in provisions of the applicable Agreement.
(2) The Department may withdraw and transfer into the Capital Access Fund up to 50% of the interest earned on moneys in Loss Reserve Accounts to pay for administrative expenses incurred by the Department.
(3) Any earnings on the balance in a Loss Reserve Account are part of the Loss Reserve Account, except as described in this section and in OAR 123-018-0150.
Stat. Auth.: ORS 285A.075 & 285B.115(3)
Stats. Implemented: ORS 285B.115 & 285B.119
