(1) The Industrial Accident Fund is continued. This fund shall be held by the State Treasurer and by the State Treasurer deposited in such banks as are authorized to receive deposits of general funds of the state.
(2) All moneys received by the State Accident Insurance Fund Corporation for workers’ compensation purposes under this chapter, shall be paid forthwith to the State Treasurer and shall become a part of the Industrial Accident Fund. However, any assessments collected for the Director of the Department of Consumer and Business Services under this chapter and deposited in the Industrial Accident Fund may thereafter be transferred to the director and deposited in the Consumer and Business Services Fund.
(3) All payments authorized to be made by the State Accident Insurance Fund Corporation for workers’ compensation purposes by this chapter, including all salaries, clerk hire and all other expenses, shall be made from the Industrial Accident Fund. [Formerly 656.452; 1975 c.556 §47; 2003 c.781 §9]
Note: The amendments to 656.632 by section 13, chapter 781, Oregon Laws 2003, become operative January 2, 2014. See section 14, chapter 781, Oregon Laws 2003. The text that is operative on and after January 2, 2014, is set forth for the user’s convenience.
656.632. (1) The Industrial Accident Fund is continued. This fund shall be held by the State Treasurer and by the State Treasurer deposited in such banks as are authorized to receive deposits of general funds of the state.
(2) All moneys received by the State Accident Insurance Fund Corporation under this chapter, shall be paid forthwith to the State Treasurer and shall become a part of the Industrial Accident Fund. However, any assessments collected for the Director of the Department of Consumer and Business Services under this chapter and deposited in the Industrial Accident Fund may thereafter be transferred to the director and deposited in the Consumer and Business Services Fund.
(3) All payments authorized to be made by the State Accident Insurance Fund Corporation by this chapter, including all salaries, clerk hire and all other expenses, shall be made from the Industrial Accident Fund.
Section: Previous 656.618 656.620 656.622 656.624 656.625 656.628 656.630 656.632 656.634 656.635 656.636 656.637 656.638 656.640 656.642 NextLast modified: August 7, 2008