178.990���� Penalties ADMINISTRATION ����� 178.010 Oath and bond. (1) The State Treasurer, before entering upon the duties of the office of the State Treasurer, shall take and subscribe the oa

178.990���� Penalties

ADMINISTRATION

����� 178.010 Oath and bond. (1) The State Treasurer, before entering upon the duties of the office of the State Treasurer, shall take and subscribe the oath required by the Constitution, and give to the State of Oregon a fidelity bond executed by a corporate insurance company licensed to transact the business of surety within this state, in such penal sum, not less than $200,000, as the Governor shall determine.

����� (2) The bond shall be conditioned for the:

����� (a) Faithful discharge by the State Treasurer of the duties of office.

����� (b) Faithful performance by all persons employed in the office, of their duties and trusts therein.

����� (c) Transfer and delivery to the successor in office, or to any other person authorized by law to receive the same, of all moneys, books, papers, records and other articles and effects belonging to the office.

����� (3) The bond shall be deemed to extend to the faithful performance of all duties of the office of treasurer until a successor is elected and qualified.

����� (4) The bond shall be approved by the Governor and, with the oath of office of the treasurer, shall be preserved in the executive office. [Amended by 1977 c.366 �2]

����� 178.020 Additional bond requirement. Whenever the Governor, for any cause, deems the bond of the State Treasurer insufficient in amount, the Governor shall require the treasurer to give an additional like bond within such time, and in such reasonable amount, as the Governor directs and approves.

����� 178.030 Premiums on surety bonds of treasurer and employees paid by state; limit on amount. (1) If the State Treasurer, in furnishing the bond required from the State Treasurer by law, furnishes a bond executed by a surety company legally authorized to transact business in this state, and the bond is approved by the Governor, the state shall pay the premium for the bond, not to exceed one-third of one percent per annum of the penalty named in the bond so executed and approved.

����� (2) Whenever a person employed in the office of the State Treasurer, required by the State Treasurer to furnish a bond, furnishes a bond executed by a surety company legally authorized to transact business in this state, and the bond is approved by the State Treasurer, the state shall pay the premium for the bond, not to exceed one-third of one percent per annum of the penalty named in the bond so executed and approved.

����� 178.040 Successive recoveries on bond. One recovery had on the official bond given by the State Treasurer shall not render the bond void, but the bond may be prosecuted upon a breach thereof, from time to time, until the whole penalty is collected.

����� 178.050 Duties of State Treasurer. The State Treasurer shall:

����� (1) Keep the office at the seat of government.

����� (2) Receive and have charge of all moneys paid into the State Treasury.

����� (3) Pay out moneys from the State Treasury as directed by law.

����� (4) Manage unclaimed property under ORS 98.302 to 98.436, escheated property under ORS