# ORS § 708a.115: 708A.115 Investment in government obligations

> Oregon · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C708a_S708a.115

## Section

- **Citation:** ORS § 708a.115
- **Heading:** 708A.115 Investment in government obligations
- **Jurisdiction:** Oregon
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** OR Code / Title 53 / Chapter 708a / Section 708a.115

## Text

(1) Institutions may invest, without regard to any limitation based on stockholders’ equity, in:

(a) Obligations of the United States, including those of its agencies and instrumentalities;

(b) Obligations of public housing agencies issued pursuant to the United States Housing Act of 1937, as amended; and

(c) Obligations of the State of Oregon or any county, city, school district, port district or other public body with the power to levy taxes issued pursuant to the Constitution or statutes of the State of Oregon or the charter or ordinances of any county or city within the State of Oregon, if the issuing body has not been in default with respect to the payment of principal or interest on any of its obligations within five years preceding the date of the investment.

(2) Subject to a limitation of 20 percent of stockholders’ equity, institutions may invest in obligations of any other state of the United States or obligations of any out-of-state county, city, school district, port district or other public body in the United States payable from ad valorem taxes, if the obligations are rated in one of the four highest grades by a recognized investment service organization that has been engaged regularly and continuously for a period of not less than 10 years in rating state and municipal obligations.

(3) Obligations received in satisfaction of debts previously contracted in good faith are not subject to the limitations of this section, if the book value of such obligations in excess of the limitations of this section is reduced to the amount allowed under this section within six months after the date the obligations are acquired. [1997 c.631 §118; 1999 c.59 §215]

Source: Section 708A.115 — Investment in government obligations , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).

## Nearby sections

- [ORS § 708a.005 708A.005 Powers of institutions](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C708a_S708a.005.md)
- [ORS § 708a.010 708A.010 Investments and activities of Oregon commercial banks](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C708a_S708a.010.md)
- [ORS § 708a.115 708A.115 Investment in government obligations](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C708a_S708a.115.md)
- [ORS § 708a.120 708A.120 Investment in stock of other entity](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C708a_S708a.120.md)
- [ORS § 708a.125 708A.125 Stock in corporations acquired to strengthen capital or eliminate undesirable assets](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C708a_S708a.125.md)
- [ORS § 708a.130 708A.130 Definition for ORS 708A.135 to 708A.145](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C708a_S708a.130.md)
- [ORS § 708a.135 708A.135 Investment in bank service corporation](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C708a_S708a.135.md)
- [ORS § 708a.140 708A.140 Discrimination by bank service corporation prohibited against nonstockholding depository institution](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C708a_S708a.140.md)
- [ORS § 708a.145 708A.145 Authorized services of bank service corporations](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C708a_S708a.145.md)
- [ORS § 708a.150 708A.150 Community development corporations](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C708a_S708a.150.md)
- [ORS § 708a.155 708A.155 Investment in foreign banks](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C708a_S708a.155.md)
- [ORS § 708a.160 708A.160 Corporation or limited liability company created to establish ATMs](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C708a_S708a.160.md)
- [ORS § 708a.165 708A.165 Membership in Federal Reserve System](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C708a_S708a.165.md)
- [ORS § 708a.170 708A.170 Securities powers](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C708a_S708a.170.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C708a_S708a.115. Check the current official text before relying on it. Not legal advice.