Oregon Business Development Department
Chapter 123
Division 18
CAPITAL ACCESS PROGRAM
123-018-0060
Ownership, Control, Investment of Loss Reserve Account
(1) All moneys in a Loss Reserve Account are the exclusive property of the State of Oregon, acting by and through the Department, and are controlled solely by the Department. The Department may withdraw funds from a Loss Reserve Account only as described in this division of administrative rules or as contained in provisions of the applicable Agreement.
(2) The Department may withdraw and transfer into the Capital Access Fund up to 50% of the interest earned on moneys in Loss Reserve Accounts to pay for administrative expenses incurred by the Department.
(3) Any earnings on the balance in a Loss Reserve Account are part of the Loss Reserve Account, except as described in this section and in OAR 123-018-0150.
Statutory/Other Authority: ORS 285A.075 & 285B.115(3)
Statutes/Other Implemented: ORS 285B.115 & 285B.119
History:
EDD 22-2008, f. 7-31-08, cert. ef. 8-1-08
EDD 6-2008(Temp), f. & cert. ef. 3-4-08 thru 8-1-08
Reverted to EDD 8-2005, f. & cert. ef. 10-24-05
EDD 8-2007(Temp), f. & cert. ef. 9-4-07 thru 2-29-08
EDD 8-2005, f. & cert. ef. 10-24-05
EDD 11-1992, f. & cert. ef. 8-18-92
Reverted to EDD 3-1991, f. & cert. ef. 4-17-91
EDD 15-1991(Temp), f. & cert. ef. 10-31-91
EDD 3-1991, f. & cert. ef. 4-17-91
EDD 27-1990(Temp), f. & cert. ef. 10-16-90