reglab/statecodes huggingface dataset:
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 140 - UNCLAIMED PROPERTY CLAIMS › Section 170-140-0125 - Incomplete Claims

Current through Register Vol. 63, No. 7, July 1, 2024
Only a completed Claim will be processed. A Claim is incomplete
				until:
(1) The Claimant provides all
			 required information on the Property Claim Form and all required
			 attachments;
(2) The Claimant
			 provides additional or supplemental evidence requested by the
			 Treasurer;
(3) An Entity designates
			 a single Agent or Employee as the authorized Agent of the Entity;
(4) The Claimant surrenders a security
			 certificate, original negotiable instrument, or, if required by the Treasurer,
			 provides a lost instrument bond; or
(5) Two or more Claimants resolve any
			 conflicts between or among the Claimants and notify the Treasurer of the
			 resolution.
Statutory/Other Authority: ORS
				  98.422  & ORS
				  178.050
Statutes/Other Implemented: ORS
				  98.39
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 140 - UNCLAIMED PROPERTY CLAIMS › Section 170-140-0130 - Burden of Proof and Standard of Review

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The Claimant must prove legal entitlement
			 to Property by a preponderance of the evidence. The Claimant is responsible for
			 contacting Persons and submitting evidence sufficient to meet the burden of
			 proof. Name similarity alone is not sufficient to prove entitlement to
			 Unclaimed Property.
(2) Whether the
			 Claimant meets the burden of proof is determined by:
(a) The veracity of the evidence;
(b) The age of the evidence;
(c) The nature of the evidence (e.g., direct,
			 indirect, or circumstantial evidence);
(d) The existence of any competing evidence
			 for the claimed Property; and
(e)
			 Any other related evidence appropriate under the circumstances of the
			 Claim.
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 140 - UNCLAIMED PROPERTY CLAIMS › Section 170-140-0135 - Claim Disposition

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The
			 Treasurer may close a Claim when:
(a) The
			 Claimant fails to complete Property Claim Form, the online Unclaimed Property
			 Portal, or provide required documents within 90 days of the date the Claimant
			 last provided the Claim Form or required Claim documents;
(b) The Claimant fails to provide additional
			 or supplemental evidence within 90 days of the date the Treasurer requested;
(c) An Entity fails to designate a
			 single Agent or Employee as the individual authorized to file a Claim on behalf
			 of the Entity within 90 days of the Treasurer providing notice; or
(d) A conflict exists between or among two or
			 more Claimants who filed Claims for the same Property and does not resolve the
			 conflict with 90 days of the Treasurer providing notice.
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 140 - UNCLAIMED PROPERTY CLAIMS › Section 170-140-0140 - Requesting a Contested Case Hearing

Current through Register Vol. 63, No. 7, July 1, 2024
(1) A Claimant who
			 disagrees with any proposed decision issued by the Treasurer under OAR
			 170-140-0135  may request a contested case hearing.
(2) The request must:
(a) Be received within 60 days of the date of
			 the Treasurer's decision; and
(b)
			 Be in writing;
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 140 - UNCLAIMED PROPERTY CLAIMS › Section 170-140-0140 - Requesting a Contested Case Hearing

Current through Register Vol. 63, No. 7, July 1, 2024
(1) A Claimant who disagrees with any
			 proposed decision issued by the Treasurer under OAR 170-140-0135  may request a
			 contested case hearing.
(2) The
			 request must:
(a) Be received within 60 days
			 of the date of the Treasurer's decision; and
(b) Be in writing;
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 145 - ADMINISTRATION OF UNCLAIMED PROPERTY › Section 170-145-0000 - Purpose

Current through Register Vol. 63, No. 7, July 1, 2024
The purpose of these rules is to provide consistent procedures
				for the administration of the Uniform Disposition of Unclaimed Property Act,
				Oregon Revised Statutes (ORS) 98.302 to 98.436, 98.991 and 98.992, and to
				ensure that all unclaimed money and Property held in safekeeping are reported
				and paid over to the Treasurer in an accurate and timely manner.
Statutory/Other Authority: ORS
				  178.050  & ORS
				  98.422
Statutes/Other Implemented: ORS
				  178.050  & ORS
				  98.422
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 145 - ADMINISTRATION OF UNCLAIMED PROPERTY › Section 170-145-0005 - Definitions

Current through Register Vol. 63, No. 7, July 1, 2024
For the purposes of these rules, unless the context requires
				otherwise, the capitalized words and phrases used in these rules have the same
				meaning as provided in ORS 98.302 and:
(1) "Capital Gains" means gains or profit
			 realized on the sale or exchange of a capital asset, or the excess of proceeds
			 over cost, or other basis, from the sale of a capital asset.
(2) "Credit Memorandum" or "Credit Memo"
			 means a transaction posted to a customer account which reduced the account
			 balance and is related to a previously posted invoice or charge, correcting and
			 reducing the amount originally charged.
(3) "Descendant" has the meaning given that
			 term in ORS 111.005.
(4)
			 "Distribution" has the meaning given that term in ORS 98.322(1)(a).
(5) "Dividend" means cash which accrues by
			 the earnings of a company and which is paid to the Owner of securities issued
			 by that company.
(6) "Dividend
			 Reinvestment Plan" means additional securities of the same company which are
			 credited to an Owner's account in lieu of cash.
(7) "Dormant" means without Owner generated
			 activity or Owner contact for a prescribed time. See also "Inactive".
(8) "Due Diligence" means taking reasonable
			 and necessary steps in good faith to locate the rightful Owner of Property
			 before the Property is reported to the state.
(9) "Examination" means examining the records
			 of any Person to determine whether the Person has complied with ORS 98.352. The
			 Treasurer may select a Person to participate in one of the following types of
			 Examination conducted by the Treasurer's Authorized Representatives:
(a) A full audit;
(b) A limited-scope audit, where only
			 specific property types are reviewed; or
(c) A self-directed audit where the Person is
			 guided through the review by the Treasurer's Authorized
			 Representatives.
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 145 - ADMINISTRATION OF UNCLAIMED PROPERTY › Section 170-145-0010 - Determining When Holders Must Report Property

Current through Register Vol. 63, No. 7, July 1, 2024
Property becomes Reportable when presumed abandoned under
				Exhibit A in the table attached to this rule.
To view attachments referenced in rule text,
click here to view
				  rule
.
Statutory/Other Authority: ORS 178.050 & ORS Chapter
				  98
Statutes/Other Implemented: ORS 62.720, ORS 98.302 to 98.436  & ORS 98.992
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 145 - ADMINISTRATION OF UNCLAIMED PROPERTY › Section 170-145-0015 - Holder's Due Diligence Requirements

Current through Register Vol. 63, No. 7, July 1, 2024
(1)
			 A Holder must report all Property presumed abandoned under Oregon law to the
			 Treasurer.
(2) When the value of
			 the Property being reported is more than $100.00 for an individual owner, the
			 Holder must comply with section (3) of this rule.
(3) More than 60 days prior to reporting
			 Property presumed abandoned under OAR 170-145-0015, each Holder must:
(a) If the Holder believes it has a valid
			 contact for an Owner (e.g., mailing address, email, phone number),exercise Due
			 Diligence to locate an Owner of the Property or account when the Property or
			 account has been Inactive for the length of time required under ORS 98.302 to
			 98.436 and 98.992; and
(b) In Due
			 Diligence communication, notify the Owner of:
(A) The type of Property being
			 held;
(B) The process for claiming
			 the Property from the Holder; and
(C) That if the Owner fails to claim the
			 Property, the Holder will report the Property or account to the Treasurer as
			 unclaimed Property.
(c)
			 If the Holder's records indicate the Holder has invalid contact information for
			 an Owner prior to the Property or account reaching the Inactive length of time
			 required under ORS 98.302 to 98.436 and 98.992:
(A) The Holder may look for a better contact
			 and attempt to locate Owner; or
(B)
			 Report Property as unclaimed without additional Due Diligence.
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 145 - ADMINISTRATION OF UNCLAIMED PROPERTY › Section 170-145-0020 - Reporting Form and Format

Current through Register Vol. 63, No. 7, July 1, 2024
(1) A Holder
			 must submit reports electronically and in the requested format.
(2) Notwithstanding section (1) of this rule,
			 a Holder may request permission to submit a hard-copy report. The request must
			 be in writing and include an explanation of the difficulty of filing
			 electronically. The Holder must follow the form and format required by the
			 Treasurer if the request is approved.
(3) A Holder must file a Negative Report if
			 required by the Treasurer.
(4) A
			 Holder of lawyer trust account funds or interest on lawyer trust account funds
			 must submit a report in writing and remit the funds to the Oregon State Bar.
			 The Oregon State Bar will provide the report data to the Treasurer based on the
			 Treasurer's instruction.
Ed Note: You may request of a copy of the NAUPA Standard
				  Electronic File Format from the Treasurer, or you may download a copy from the
				  NAUPA website by copying and pasting the following address:
https://mk0unclaimedproo4yy1.kinstacdn.com/wp-content/uploads/NAUPAStandardElectronicFileFormat-11.20.19.pdf
Statutory/Other Authority: ORS 178.050, ORS 98.422 & ORS
				  98.352
Statutes/Other Implemented: ORS
				  98.352
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 145 - ADMINISTRATION OF UNCLAIMED PROPERTY › Section 170-145-0025 - Reporting and Delivery of Property to the Treasurer

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Every Person holding funds or other
			 Tangible or Intangible Property, presumed abandoned according to ORS 98.302 to
			 98.352 must report and pay or deliver all such Property to the Treasurer,
			 except that funds transferred to the General Fund by governmental agencies
			 pursuant to ORS 293.455(1)(a) must only be reported to the Treasurer.
(2) The Holder must designate an employee to
			 serve as contact for the report.
(3) For accounts Inactive as of June 30, the
			 Holder must file the report after October 1, but not later than November
			 1.
(4) The Treasurer may postpone
			 the reporting date or allow early reporting and payment or delivery upon
			 written request by any Person required to file a report. Such action is at the
			 Treasurer's discretion.
(5) A
			 Holder must report all Property, regardless of value, presumed abandoned
			 according to ORS 98.302 to 98.352 and the timelines established in (3) above.
(a) Reported Property must include the
			 following information, if known:
(A) The
			 complete name, address of record, Social Security number, previous names, and
			 any previous addresses of each listed Owner; and
(B) The type of account, identification
			 number, reference number, last activity or transaction date used to presume
			 abandonment, and any specific description of the Unclaimed Property according
			 to the records of the Holder.
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 145 - ADMINISTRATION OF UNCLAIMED PROPERTY › Section 170-145-0030 - Service Charges and Interest on Deposit Accounts

Current through Register Vol. 63, No. 7, July 1, 2024
(1) With respect to any demand, savings or
			 matured time deposit with a Financial Institution, including a deposit that is
			 automatically renewable, and any funds paid toward the purchase of a share,
			 mutual investment certificate or any other interest in a Financial Institution,
			 a Holder may not impose any charge or cease payment of interest due to dormancy
			 or inactivity unless:
(a) There is a written
			 contractual agreement between the Holder and the Owner of the account clearly
			 and prominently setting forth the conditions under which a service charge may
			 be imposed, or the payment of interest terminated;
(b) The establishment of a service charge,
			 the change of an existing service charge or the change of a policy pertaining
			 to the payment of interest is uniformly applied to all Dormant or Inactive
			 accounts;
(c) The Holder must give
			 written notice to the Owner at the Owner's Last-known Address whenever an
			 account becomes Inactive; and;
(d)
			 Three months written notice is given by first-class mail to the Last-known
			 Address of the Owner of a Dormant or Inactive account before the Holder may
			 apply a service charge to the account or stop paying interest on that
			 account.
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 145 - ADMINISTRATION OF UNCLAIMED PROPERTY › Section 170-145-0035 - Holder Request for Reimbursement

Current through Register Vol. 63, No. 7, July 1, 2024
If a Holder pays or delivers Property to an Owner or the Holder
				overpaid or made an error when remitting property to the Treasurer, the Holder
				may request reimbursement from the Treasurer. The Holder must provide to the
				Treasurer sufficient evidence to establish the Owner was paid or the Holder
				made an error or overpayment. The Holder will not be assessed any fees or other
				service charges by the Treasurer. When the Holder receives the reimbursement,
				the Holder assumes liability for the asset and holds the Treasurer harmless
				from all future claims to the Property. If a Holder pays or delivers Property
				to an Owner, the Holder may request reimbursement from the Treasurer. The
				Holder must provide to the Treasurer sufficient evidence to establish the Owner
				was paid. The Holder will not be assessed any fees or other service charges by
				the Treasurer. When the Holder receives the reimbursement, the Holder assumes
				liability for the asset and holds the Treasurer harmless from all future claims
				to the Property.
Statutory/Other Authority: ORS
				  178.050  & ORS
				  98.422
Statutes/Other Implemented: ORS
				  98.422
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 145 - ADMINISTRATION OF UNCLAIMED PROPERTY › Section 170-145-0040 - Holder Examinations

Current through Register Vol. 63, No. 7, July 1, 2024
Every Person receiving at least 10 business days written notice
				is subject to an Examination by the Treasurer:
(1) The Person subject to an Examination must
			 provide all records, without redaction or omission, necessary to determine
			 whether the Person has complied with the requirements of ORS 98.352. Unless
			 authorized by the Treasurer, records must be in an electronic format. The
			 Person or Holder subject to Examination must provide records timely during the
			 Examination.
(2) A Holder subject
			 to an Examination under ORS 98.412(4) must provide all records to the Treasurer
			 or the Treasurer's Authorized Representative, including those records created
			 or maintained by any Person serving as the Holders' registrar, paying agent,
			 Third-Party Administrator, or any other Person creating or maintaining records
			 on behalf of the Holder.
(3) The
			 Person or Holder subject to Examination must present all records and accounts
			 requested and include, but are not limited to:
(a) Contractual agreements between depositors
			 and the Financial Institution regarding the deduction of authorized service
			 charges, account increases or decreases, and the cessation of interest
			 payments;
(b) Records of current
			 accounts, Inactive accounts, and accounts that may have been closed and
			 archived;
(c) The Holder's
			 procedures for administering Inactive accounts, including searching for and
			 notifying Owners to ensure compliance with OAR 170-145-0015;
(d) Bank reconciliations, outstanding
			 checklists, check registers, void check listings, and bank
			 statements;
(e) Customer accounts
			 receivable aging reports;
(f)
			 Reports from transfer agents showing the name, address, and last date of
			 positive contact with stockholders;
(g) Uncashed checks;
(h) Journal entries that specifically write
			 off stale dated checks;
(i) Third
			 Party Administrators' contracts, records, and reconciliations; and
(j) Holder trial balance of accounts and/or
			 chart of accounts.
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 145 - ADMINISTRATION OF UNCLAIMED PROPERTY › Section 170-145-0045 - Records Maintenance, Retention, and Disclosure

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The Holder is responsible for the
			 content, accuracy, and timeliness of the reports and retention of all records
			 associated with the reports as defined in ORS 98.354 whether the report is
			 filed by the Holder or another Person on behalf of the Holder.
(2) Every Holder must maintain a record of
			 the name and Last-known Address of the Owner and such signature cards and other
			 evidence which would assist in the identification of the owner for three years
			 after the Property has been remitted to the Treasurer.
(3) Except as provided in section (4) of this
			 rule, a Person may not release a list of records within:
(a) Twelve months after the date the Property
			 is Reportable; and
(b) Twenty-four
			 months after the date the Property has been delivered or remitted to the
			 department.
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 145 - ADMINISTRATION OF UNCLAIMED PROPERTY › Section 170-145-0050 - Request for Collaborative Dispute Resolution

Current through Register Vol. 63, No. 7, July 1, 2024
(1)
			 Either the Holder or the Treasurer may request the other to engage in a
			 collaborative dispute resolution process when the findings or decision are
			 based on estimates as described in ORS 98.412(4). Both parties must agree to
			 the process, and either party can terminate the process at any time.
(2) A Holder who disagrees with Examination
			 findings by or a decision of the Treasurer under these rules may request to
			 resolve the dispute through a collaborative process.
(3) The Holder's request must:
(a) Be filed within 60 days of the date of
			 the Treasurer's final Examination findings; and
(b) Be in writing.
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 145 - ADMINISTRATION OF UNCLAIMED PROPERTY › Section 170-145-0055 - Requesting a Contested Case Hearing

Current through Register Vol. 63, No. 7, July 1, 2024
(1)
			 A Person who disagrees with any proposed decision issued by the Treasurer under
			 this chapter 170, division 145 may request a contested case hearing.
(2) The request must be:
(a) Received within 60 days of the date of
			 the Treasurer's decision; and
(b)
			 In writing.
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 145 - ADMINISTRATION OF UNCLAIMED PROPERTY › Section 170-145-0100 - Voluntary Disclosure Program

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The
			 Voluntary Disclosure Program allows a Holder to come into compliance with the
			 reporting and delivery of Property presumed abandoned under ORS 98.302 to
			 98.436 and these rules without penalty under ORS 98.992 during the period the
			 Holder participates.
(2) To
			 participate in the Voluntary Compliance Program, a Holder must meet the
			 following criteria. The Holder:
(a) Has
			 identified that it did not report or underreported Property that was Reportable
			 and deliverable in a prior year;
(b) Is not subject to a current Examination
			 under these rules; and
(c) Has not
			 participated in the Voluntary Compliance Program or the Self-audit Program
			 within the past ten years. The Treasurer may waive this requirement if the
			 Property type is new or associated with a merger or acquisition of a new
			 company.
Oregon Administrative Rules › Chapter 171 - OREGON INVESTMENT COUNCIL › Division 1 - PROCEDURAL RULES › Section 171-001-0000 - Notice of Proposed Rulemaking

Current through Register Vol. 63, No. 7, July 1, 2024
Prior to adoption, amendment, or repeal of any rule, the Oregon Investment Council shall give notice of its intention to adopt, amend, or repeal any rule, not less than 15 days prior to the date of the proposed action:
(1) In the Secretary of State's Bulletin;
(2) By purchasing a legal notice (advertisement) in a daily or weekly newspaper of general circulation;
(3) By furnishing a copy of the notice to the following:
(a) Associated Press, United Press International, and other media;
(b) Any interested parties requesting to be on a regular mailing list for rules adopted by the Oregon Investment Council;
(c) To members of boards and commissions working with the Oregon Investment Council that may be affected by the adoption of said rule; and
(d) To all banking institutions, state money managers, and local governments that may be affected by the proposed rule.
Oregon Administrative Rules › Chapter 171 - OREGON INVESTMENT COUNCIL › Division 1 - PROCEDURAL RULES › Section 171-001-0005 - Model Rule of Procedure

Current through Register Vol. 63, No. 7, July 1, 2024
Pursuant to ORS 183.341(2), the Oregon Investment Council adopts the Attorney General's Uniform and Model Rules of Procedure of January 27, 1986 by reference.
The full text of the Attorney General's Model Rules of Procedure is available from the Attorney General or State Treasurer.
Stat. Auth.: ORS 183
Oregon Administrative Rules › Chapter 171 - OREGON INVESTMENT COUNCIL › Division 2 - INSPECTION, CERTIFICATION, OR COPYING PUBLIC RECORDS › Section 171-002-0000 - Public Records

Current through Register Vol. 63, No. 7, July 1, 2024
Pursuant to ORS 192.420 through 192.505, the Oregon Investment Council:
(1) May charge the following fees for certification or copying of any public records in the Oregon State Treasury's custody not otherwise exempt from disclosure:
(a) For each certification containing five pages or less -- $5;
(b) For each page of a certified document in excess of five pages -- 5¢ per page;
(c) For uncertified copies -- 5¢;
(d) For facsimile transmission -- $1 per page (excluding cover page).
Oregon Administrative Rules › Chapter 172 - OREGON FACILITIES AUTHORITY › Division 1 - NOTICE OF PROPOSED RULEMAKING AND MODEL RULES OF PROCEDURE › Section 172-001-0005 - Model Rules of Procedure

Current through Register Vol. 63, No. 7, July 1, 2024
The Model Rules of Procedure under the Administrative Procedure Act, as promulgated by the Attorney General of the State of Oregon, effective as of February 12, 2010, are adopted as the rules of procedure for administrative rulemaking and other administrative law functions of the Authority.
The full text of the Attorney General's Model Rules of Procedure is available from the office of the Attorney General or the Oregon Facilities Authority.
Stat. Auth.: ORS 183.341(1) & 289.240(2)
Stats. Implemented: ORS 183.341
Oregon Administrative Rules › Chapter 172 - OREGON FACILITIES AUTHORITY › Division 5 - EVALUATING AND APPROVING PROJECTS WHICH QUALIFY FOR TAX-EXEMPT FINANCING › Section 172-005-0000 - Form of Application for Financing

Current through Register Vol. 63, No. 7, July 1, 2024
Any participating institution desiring to obtain financing for a project through the Authority shall file with the Executive Director an application in the manner and form approved by the Authority, which shall be accompanied by a non-refundable application fee in the amount prescribed in OAR 172-000-0065(2). In addition to the information called for by the application, a participating institution may be required to provide such additional information and supporting materials concerning the participating institution and the proposed project as the Authority or the Executive Director deems necessary or appropriate in order to enable the request for financing to be properly evaluated.
Stat. Auth.: ORS 289.240(2) & 289.125(1)
Stats. Implemented: ORS 289.125
Oregon Administrative Rules › Chapter 172 - OREGON FACILITIES AUTHORITY › Division 5 - EVALUATING AND APPROVING PROJECTS WHICH QUALIFY FOR TAX-EXEMPT FINANCING › Section 172-005-0010 - Processing of Applications

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Upon receipt of a substantially complete application for financing and review thereof by the Executive Director and the Authority's financial advisor and bond counsel, the Executive Director shall, at the earliest practicable time, call a meeting of the Authority by giving notice thereof in the manner required by law, and shall place on the agenda for the meeting such substantially complete application for consideration by the Authority. For purposes of this section, an application shall be deemed to be substantially complete if it contains all required information and is accompanied by all required supporting materials other than the feasibility study (if required), the commitment for credit enhancement (if any), the 501(c)(3) determination letter from the Internal Revenue Service and such other items and information the absence of which, in the judgment of the Executive Director, will not materially impair the ability of the Authority to properly evaluate and act upon the application.
(2) The Executive Director shall cause a copy of each application to be delivered to each member of the Authority, the Treasurer, bond counsel and the financial adviser as soon as practicable after receipt and review thereof by the Executive Director. In addition, within a reasonable time prior to the meeting of the Authority at which an application is to be considered, the Executive Director shall deliver to each member of the Authority the Executive Director's written summary of the proposed project and financing and any recommendations with respect thereto.
Stat. Auth.: ORS 289.240(2) & 289.125(1)
Stats. Implemented: ORS 289.005(9)
Oregon Administrative Rules › Chapter 172 - OREGON FACILITIES AUTHORITY › Division 5 - EVALUATING AND APPROVING PROJECTS WHICH QUALIFY FOR TAX-EXEMPT FINANCING › Section 172-005-0020 - Consideration of Application by the Authority

Current through Register Vol. 63, No. 7, July 1, 2024
(1) At the meeting for which an application has been placed on the agenda, the Authority shall consider whether to approve or disapprove such application; provided that action by the Authority on an application may be deferred to a later meeting upon the vote of a majority of the members of the Authority. With the permission of the chairperson of the Authority and subject to such reasonable regulation as may be imposed from time to time by the Authority or the chairperson of the Authority, representatives of the participating institution filing the application and members of the public shall have the right to address the Authority, orally or in writing, concerning the merits of the proposed project and financing plan. The Authority, at any time while an application is pending, may in its discretion require the participating institution filing such application to provide additional information with respect to, or clarification of, any matter pertaining to the application, the participating institution, the proposed project or the financing thereof as the Authority determines to be reasonably necessary, convenient or appropriate to the Authority's discharge of its functions under ORS Chapter 289 or these rules.
(2) In considering whether to approve or disapprove an application, the Authority shall consider the extent to which the proposed project qualifies as a "project" within the meaning of ORS 289.005 in addition to any other factors it deems relevant, which may include any of the following:
(a) The extent to which the proposed project and the financing plan conform to the requirements under the Internal Revenue Code for federally tax-exempt financing or are eligible for a federal tax credit or subsidy;
(b) The economic viability of the proposed project, including the creditworthiness of the participating institution and credit enhancement provider (if any), the experience of the participating institution in constructing, equipping and operating projects of the type proposed, and the likelihood that all amounts owing on any bonds issued to finance the proposed project will be paid when due;
(c) The public benefits expected to be derived from the proposed project, including the extent to which the proposed project furthers the objectives sought to be promoted under ORS 289.005 to 289.240, and the benefits to and impact on the community in which the project is to be located;
(d) The ability of the participating institution to provide such information concerning itself and the proposed project as may be necessary or appropriate in order to ensure that any bonds issued are sold on the basis of full and complete disclosure of all material information; and
(e) The likelihood that any bonds issued can be successfully marketed at rates of interest which will not jeopardize the economic viability of the proposed project or the participating institution.
Oregon Administrative Rules › Chapter 172 - OREGON FACILITIES AUTHORITY › Division 5 - EVALUATING AND APPROVING PROJECTS WHICH QUALIFY FOR TAX-EXEMPT FINANCING › Section 172-005-0030 - Preliminary Agreement

Current through Register Vol. 63, No. 7, July 1, 2024
Immediately following approval of an application by the Authority and the Treasurer, the Executive Director, acting for and on behalf of the Authority, and the participating institution filing such application shall execute and deliver a preliminary agreement described in OAR 172-005-0020(3)  that shall contain appropriate provisions, terms and conditions concerning the requested financing, including the agreement of the participating institution to pay costs related to the proposed financing, whether or not the financing is closed, and the undertaking of the participating institution to indemnify and hold harmless the State of Oregon, the Authority, and their respective officials, members, officers, staff and employees from and against any and all claims, losses or damages, howsoever arising, incurred in connection with the proposed project or the financing thereof, regardless of whether or not the financing proceeds.
Stat. Auth.: ORS 289.240(2) & 289.125(1)
Stats. Implemented: ORS 289.240(2) & 289.125(1)
Oregon Administrative Rules › Chapter 172 - OREGON FACILITIES AUTHORITY › Division 5 - EVALUATING AND APPROVING PROJECTS WHICH QUALIFY FOR TAX-EXEMPT FINANCING › Section 172-005-0045 - Post-Issuance Compliance

Current through Register Vol. 63, No. 7, July 1, 2024
It is the policy of the Authority that participating institutions have appropriate written procedures in place at the time of issuance to ensure post issuance compliance with applicable federal tax and securities law requirements. A participating institution shall submit to the Authority prior to the time of issuance (a) a copy of the post-issuance compliance procedures duly adopted by the participating institution that establish appropriate internal procedures to ensure compliance by the participating institution with federal tax, federal and state securities, and other applicable laws and regulations, (b) a copy of any modification or amendment of such procedures, and (c) a copy of evidence of the due adoption and approval of such procedures or any modification or amendment of such procedures by the participating institution. The post-issuance compliance procedures of the participating institution shall designate the person or persons with primary responsibility for compliance with federal tax and securities law requirements and shall establish appropriate detailed procedures to ensure compliance by the participating institution with (a) federal tax requirements, including but limited to those related to the expenditure of bond proceeds, project use, investment of bond proceeds, restriction on arbitrage yield and rebate, and (b) if applicable, federal securities law requirements regarding the annual filing of financial information and the timely disclosure of certain material events.
Stat. Auth.: ORS 289.125(1), 289.240(2)
Stats. Implemented: ORS 289.005, 289.010, 289.125, 289.200, 289.240(2)
Oregon Administrative Rules › Chapter 172 - OREGON FACILITIES AUTHORITY › Division 5 - EVALUATING AND APPROVING PROJECTS WHICH QUALIFY FOR TAX-EXEMPT FINANCING › Section 172-005-0050 - Investment Grade Bonds; Agent for Disclosure Purposes

Current through Register Vol. 63, No. 7, July 1, 2024
(1)
(a) It is the policy of the Authority that all bonds proposed to be sold pursuant to a public offering shall have received an investment grade rating at the time of issuance and if such investment grade rating cannot be attained on the basis of the project or the participating institution's credit rating, the participating institution must procure an appropriate credit enhancement device which will secure the bonds in a manner that will result in an investment grade rating at the time of issuance. If bonds proposed to be sold pursuant to a public offering receive a rating of at least investment grade but below BBB+ by Standard & Poor's, Baa1 by Moody's Investors Service or BBB+ by Fitch, the participating institution shall procure a second rating on the bonds of at least investment grade at the time of issuance. In addition, it is the policy of the Authority that unrated bonds or bonds not receiving a rating of at least investment grade at the time of issuance may not be sold pursuant to a public offering and may be sold only to (i) a bank as defined in Section 3(a)(2) of the Securities Act of 1933, as amended (the "1933 Act"), or a savings and loan association or other institution described in Section 3(a)(5)(a) of the 1933 Act or (ii) qualified institutional buyers, as such term is defined under Rule 144A promulgated under the 1933 Act. The Authority, in its discretion, may make exceptions to the foregoing policy based upon such factors as it deems appropriate, which factors shall be set forth in the record of the Authority meeting granting any such exception.
(b) In connection with the issuance of any bonds, the Authority may require the participating institution and the underwriter to undertake certain contractual obligations and to provide indemnity or other protection to the Authority, the State of Oregon and their respective members, officials, officers and employees with respect to the requirements of federal and state securities laws, based on the advice of bond counsel or the Department of Justice of the State of Oregon and the established practice of other conduit bond issuers.
Oregon Administrative Rules › Chapter 172 - OREGON FACILITIES AUTHORITY › Division 5 - EVALUATING AND APPROVING PROJECTS WHICH QUALIFY FOR TAX-EXEMPT FINANCING › Section 172-005-0060 - Definition of Low Income

Current through Register Vol. 63, No. 7, July 1, 2024
For purposes of bonds issued to finance any housing project, the term "low income" shall mean persons or families whose household income is not greater than eighty percent of the median income for the relevant area in which the project is to be located, with the relevant area to be determined by the Authority based upon such factors as it deems appropriate. A housing project shall be considered to be a low income housing project if, at all times during the period commencing on the later to occur of the date of issuance of the related bonds or the date of completion of the project and ending on the later to occur of fifteen years following such commencement date or the date of the final stated maturity of the bonds, not less than twenty percent of the units in the project are occupied by, or set aside and reserved for occupancy by, persons or families of low income (determined as of the date upon which such persons or families first occupy such units). It is the policy of the Authority in issuing bonds to finance low income housing projects to take such steps as shall be reasonable to maximize the number of low income housing units in each project without jeopardizing the economic viability of such project. Therefore in connection with the financing of any low income housing project, the Authority, in its discretion, may modify the requirements of this section.
Stat. Auth.: ORS 289.240(2) & 289.125(1)
Stats. Implemented: ORS 289.005(6)
Oregon Administrative Rules › Chapter 172 - OREGON FACILITIES AUTHORITY › Division 5 - EVALUATING AND APPROVING PROJECTS WHICH QUALIFY FOR TAX-EXEMPT FINANCING › Section 172-005-0065 - Fees

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The Authority shall collect the fees set forth in OAR 172-005-0065(2) and (3)  from an applicant that seeks to have a project declared eligible for financing. The fee identified in OAR 172-005-0065(2)  may be collected even though the project has not been determined to be eligible for financing.
(2) The Authority shall collect a $500 application fee from the applicant.
(3) The Authority shall collect the following closing fee:
(a) For Small Nonprofit Accelerated Program (SNAP) bonds: 0.5% of the amount of the bond up to $600,000, plus 0.3% of the amount of the bond in excess of $600,000.
(b) For other bonds:
(i) For bond issues up to $5,000,000, 0.3% of the amount issued.
(ii) For bond issues between $5,000,000 and $10,000,000, $15,000 plus 0.2% of the amount issued in excess of $5,000,000.
(iii) For bond issues between $10,000,000 and $20,000,000, $25,000 plus 0.15% of the amount issued in excess of $10,000,000.
(iv) For bond issues over $20,000,000, $40,000 plus 0.05% of the amount issued in excess of $20,000,000.
(c) For refinancing existing Authority-related bonds, 0.05% of the amount of the Authority-related bonds refinanced
Oregon Administrative Rules › Chapter 172 - OREGON FACILITIES AUTHORITY › Division 5 - EVALUATING AND APPROVING PROJECTS WHICH QUALIFY FOR TAX-EXEMPT FINANCING › Section 172-005-0070 - Waiver of Requirements

Current through Register Vol. 63, No. 7, July 1, 2024
Upon the recommendation of the Executive Director or at the request of any member of the Authority, the Authority may, in its discretion, waive any of the requirements of these administrative rules to the extent such requirements are not otherwise imposed by law. Any such waiver shall be by resolution of the Authority, and the resolution shall set forth the particular circumstances which, in the judgment of the Authority, warrant such waiver.
Stat. Auth.: ORS 289.240(2) & 289.125(1)
Stats. Implemented: ORS 289.240(2) & 289.125(1)
Oregon Administrative Rules › Chapter 173 - OREGON 529 SAVINGS BOARD › Division 1 - NOTICE OF PROPOSED RULEMAKING AND MODEL RULES OF PROCEDURE › Section 173-001-0000 - Notice Rule for Rulemaking

Current through Register Vol. 63, No. 7, July 1, 2024
Before adopting, amending or repealing any permanent rule, the Board will give notice of the intended action:
(1) In the Secretary of State's Bulletin referred to in ORS 183.360 at least 21 days before the effective date of the rule;
(2) By mailing a copy of the notice to persons on the Board's mailing list established pursuant to ORS 183.335(7) at least 28 days before the effective date of the rule;
(3) By mailing a copy of the notice to the legislators specified in ORS 183.335(14) at least 49 days before the effective date of the rule; and
(4) By mailing or furnishing a copy of the notice to:
(a) The Associated Press;
(b) The Financial Planning Association; Oregon Bankers Association; Estate Planning Section, Oregon State Bar; Oregon University System; and
(c) Capitol Press Room.
Oregon Administrative Rules › Chapter 173 - OREGON 529 SAVINGS BOARD › Division 1 - NOTICE OF PROPOSED RULEMAKING AND MODEL RULES OF PROCEDURE › Section 173-001-0005 - Model Rules of Procedure

Current through Register Vol. 63, No. 7, July 1, 2024
The Model Rules of Procedure under the Administrative Procedure Act, as promulgated by the Attorney General of the State of Oregon, effective January 1, 2008, are adopted as the rules of procedure for administrative rulemaking and other administrative law functions of the board.
The full text of the Attorney General's Model Rules of Procedure is available from the office of the Attorney General or the Oregon Qualified Tuition Savings Board.
Stat. Auth.: ORS 183.341
Stats. Implemented: ORS 183.341 & SB 756 (1999)
Oregon Administrative Rules › Chapter 173 - OREGON 529 SAVINGS BOARD › Division 1 - NOTICE OF PROPOSED RULEMAKING AND MODEL RULES OF PROCEDURE › Section 173-001-0010 - ADR Related Model Rules

Current through Register Vol. 63, No. 7, July 1, 2024
The Attorney General's ADR Related Model Rules, effective January 1, 2008, as set forth in OAR 137, divisions 1 through 5, are adopted by the Board as its rules for collaborative dispute resolution.
Stat. Auth.: ORS 183.502(3)
Stats. Implemented: ORS 183.502(3) & SB 756 (1999) (348.841 - 348.873)
Oregon Administrative Rules › Chapter 173 - OREGON 529 SAVINGS BOARD › Division 1 - NOTICE OF PROPOSED RULEMAKING AND MODEL RULES OF PROCEDURE › Section 173-001-0015 - Confidentiality and Inadmissibility of Mediation Communications

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The words and phrases used in this rule have the same meaning as given to them in ORS 36.110 and 36.234.
(2) Nothing in this rule affects any confidentiality created by other law. Nothing in this rule relieves a public body from complying with the Public Meetings Law, ORS 192.610 to 192.690. Whether or not they are confidential under this or other rules of the agency, mediation communications are exempt from disclosure under the Public Records Law to the extent provided in 192.410 to 192.505.
(3) This rule applies only to mediations in which the agency is a party or is mediating a dispute as to which the agency has regulatory authority. This rule does not apply when the agency is acting as the "mediator" in a matter in which the agency also is a party as defined in ORS 36.234.
(4) To the extent mediation communications would otherwise compromise negotiations under ORS 40.190 (OEC Rule 408), those mediation communications are not admissible as provided in 40.190 (OEC Rule 408), notwithstanding any provisions to the contrary in section (9) of this rule.
(5)
Mediations Excluded
. Sections (6)-(10) of this rule do not apply to:
(a) Mediation of workplace interpersonal disputes involving the interpersonal relationships between this agency's employees, officials or employees and officials, unless a formal grievance under a labor contract, a tort claim notice or a lawsuit has been filed; or
(b) Mediation in which the person acting as the mediator will also act as the hearings officer in a contested case involving some or all of the same matters; or
(c) Mediation in which the only parties are public bodies; or
(d) Mediation involving two or more public bodies and a private party if the laws, rules or policies governing mediation confidentiality for at least one of the public bodies provide that mediation communications in the mediation are not confidential; or
(e) Mediation involving 15 or more parties if the agency has designated that another mediation confidentiality rule adopted by the agency may apply to that mediation.
Oregon Administrative Rules › Chapter 173 - OREGON 529 SAVINGS BOARD › Division 1 - NOTICE OF PROPOSED RULEMAKING AND MODEL RULES OF PROCEDURE › Section 173-001-0020 - Policies and Procedures of the Office of the Treasurer

Current through Register Vol. 63, No. 7, July 1, 2024
The policies and procedures of the Office of the State Treasurer in regard to personal services contracting and purchasing goods and services, to the extent not inconsistent with the Act or OAR chapter 173, are adopted as the policies and procedures of the board.
Stat. Authority: ORS 36.224
Stat. Implemented: ORS 36.224, 36.228, 36.230 & 36.232
Oregon Administrative Rules › Chapter 173 - OREGON 529 SAVINGS BOARD › Division 5 - ADMINISTRATION › Section 173-005-0000 - Definitions

Current through Register Vol. 63, No. 7, July 1, 2024
All terms used in OAR chapter 173 are as defined in the Act. In addition, as used in OAR chapter 173, unless the context indicates otherwise:
(1) "College Savings Plan" means a qualified 529 plan as defined by the Code and ORS 178.300
(2) "ABLE Plan" means a qualified 529a plan as defined by the Code and ORS 178.300
(3) "Network Plans" means all qualified 529 and 529a plans administered by the Oregon 529 Savings Board.
(1) "Act" means ORS 178.300 to 178.380, as amended from time to time.
(2) "Business day" means any weekday on which the New York Stock Exchange (NYSE) is open.
(3) "Participation agreement" means the agreement setting forth the terms and conditions governing an account and participation in the applicable plan.
(4) "Code" means sections  529 and  529a of the Internal Revenue Code and any other sections, regulations, rulings, announcements or other guidance issued under the Internal Revenue Code.
(5) "Executive Director" means the Executive Director of the Oregon 529 Savings Network.
(6) "Person" means a "person" as defined in Section 7701(a)1 of the Code, including an individual, trust, estate, partnership, association, company or corporation, and in addition, the State of Oregon or a State of Oregon local government or an agency or instrumentality of either.
(7) "Plan" means a College Savings Plan or an ABLE Plan that is established by the board under the Oregon 529 Savings Network, pursuant to its authority under the Act.
(8) "In writing", "written requests", "written instructions" or similar terms used to refer to communications regarding an account include emails or transactions conducted online or electronically as permitted by the board.
(9) "Plan manager" means a third party entity serving as the administrator, marketing agent and/or investment manager of a plan. References in OAR chapter 173 to "plan manager" mean the plan manager of the plan under which an account was opened.
(10) "UGMA/UTMA" means the Uniform Gifts to Minors Act, the Uniform Transfer to Minors Act or a substantially similar act of Oregon or another state, as applicable.
Stat. Auth.: ORS 348.853(2)
Stats. Implemented: ORS
				  348.853(2)
Oregon Administrative Rules › Chapter 173 - OREGON 529 SAVINGS BOARD › Division 5 - ADMINISTRATION › Section 173-005-0005 - Executive Director

Current through Register Vol. 63, No. 7, July 1, 2024
The Executive Director is responsible for the day to day operations of the network and for carrying out such duties and responsibilities as assigned by the board.
Stat. Auth.: ORS 348.853(2)
Stats. Implemented: ORS 348.853(2)
Oregon Administrative Rules › Chapter 173 - OREGON 529 SAVINGS BOARD › Division 6 - ELIGIBILITY › Section 173-006-0000 - Account Owner

Current through Register Vol. 63, No. 7, July 1, 2024
Any person, including a custodian under UGMA/UTMA, who is legally able to contract under applicable state law and who meets federal and state legal requirements governing the network, is eligible to establish an account.
Stat. Auth.: ORS 348.853(2)
Stats. Implemented: ORS 348.841 & 348.873
Oregon Administrative Rules › Chapter 173 - OREGON 529 SAVINGS BOARD › Division 6 - ELIGIBILITY › Section 173-006-0005 - Designated Beneficiary

Current through Register Vol. 63, No. 7, July 1, 2024
(1) For a College
			 Savings Plan, there are no restrictions on the age of a designated beneficiary
			 nor any required relationship between the account owner and the designated
			 beneficiary of an account.
(2) For
			 an ABLE Plan the beneficiary and the account owner must be the same person or
			 how designated beneficiaries are defined by the Code.
(3) For a College Savings Plan, there is no
			 limit on the number of accounts that may be opened for one designated
			 beneficiary by different account owners.
(4) For an ABLE Plan only one account can be
			 opened for each beneficiary or as defined by the Code.
(5) For a College Savings Plan, an account
			 owner may also be the designated beneficiary of an account.
Stat. Auth.: ORS 348.853(2)
Stats. Implemented: ORS
				  348.857(4)