OregonRelating to a public corporation for establishing secure cash storage facilities in this state; declaring an emergency.
What it does
Establishes the Oregon Cash Depository Corporation as an independent public corporation and prescribes the corporation's purposes and powers. Directs the corporation to lease or acquire real property and construct or renovate offices, facilities and business locations throughout the state at which the corporation receives, handles, stores and dispenses cash and other valuable property. Establishes the Oregon Cash Depository Corporation Fund in the State Treasury and requires the corporation to deposit all moneys the corporation receives into the fund.
More detail
Permits the corporation to invest the moneys in the fund and a fraction of the corporation's deposits in accordance with the provisions of the Act. Subjects the corporation to an annual audit by the Secretary of State and requires the corporation to respond to the recommendations in the audit report. Requires a study of the corporation's operations every four years and a report to the Legislative Assembly. Requires the Attorney General to defend the corporation and the directors, officers and employees of the corporation against a claim or charge brought for actions in performing the duties of the corporation. Becomes operative January 1, 2026. Declares an emergency, effective on passage.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Jun 28In committee upon adjournment.Latest
- Jan 24Referred to Rules.Minor
- Jan 21First reading. Referred to Speaker's desk.Introduced