At the discretion of the State Treasurer, bonds issued under ORS 367.615 may be secured by a trust indenture. A trust indenture established under this section is subject to the following:
(1) The trust indenture shall be by and between the state and a trustee.
(2) The trustee may be any trust company or bank having the powers of a trust company whether inside or outside the state.
(3) The trustee may act as custodian as provided for by indenture under ORS 367.640.
(4) The trustee must be jointly appointed by the director and the State Treasurer.
(5) The trustee shall be vested with such powers and duties as provided for by indenture under ORS 367.640. [1985 c.551 §9]Section: Previous 367.622 367.623 367.625 367.630 367.635 367.640 367.645 367.650 367.655 367.660 367.665 367.670 367.700 367.705 367.710 Next
Last modified: August 7, 2008