Whenever the custodial officer is forced to liquidate investments made pursuant to ORS 294.035 and 294.040 to meet current cash demands and such liquidation results in a loss of invested principal because the securities were liquidated prior to maturity under market conditions unfavorable to such liquidation, the loss shall be charged against current or future investment earnings and the custodial officer shall not be personally liable to make good such loss. [1959 c.612 §1; 1963 c.465 §1; 1975 c.359 §5]
Section: Previous 294.029 294.030 294.033 294.035 294.040 294.045 294.046 294.047 294.048 294.050 294.052 294.053 294.055 294.060 294.065 NextLast modified: August 7, 2008