Oregon Statutes - Chapter 323 - Cigarettes and Tobacco Products - Section 323.125 - Liquidation of security to pay delinquency.

Upon receipt of a certificate of the Department of Revenue setting forth the amount of a distributorís delinquencies, the State Treasurer shall pay to the department the amount so certified from the money deposited with the State Treasurer by the distributor or from the amounts received from the sale of bonds or other obligations deposited with the State Treasurer by the distributor. Securities deposited with the State Treasurer which have a prevailing market price may be sold by the State Treasurer for the purposes of this section at private sale at a price not lower than the prevailing market price thereof. [1965 c.525 §38]

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Last modified: August 7, 2008