(2). [2005 c.542 �28; 2007 c.166 �7; 2011 c.195 �16; 2015 c.291 �2]

18.950 (2). [2005 c.542 �28; 2007 c.166 �7; 2011 c.195 �16; 2015 c.291 �2]

����� 18.938 Manner of payment. (1) Except as provided in this section, a sheriff shall accept as payment from a purchaser of real property at an execution sale a cashier�s check or cash. Except as provided in this section, a sheriff shall accept any combination of cashier�s checks or cash that is adequate to pay the purchase price.

����� (2) A sheriff shall accept a cashier�s check as payment from a purchaser at an execution sale only if the cashier�s check is made payable to the sheriff and is drawn on a financial institution that is authorized to do business under the laws of Oregon or the United States.

����� (3) If any part of the purchase price at an execution sale is paid with a cashier�s check, the sheriff shall give the purchaser a receipt for the funds in lieu of a certificate of sale under ORS 18.942. The receipt must state that the purchaser is the successful bidder and must describe the property sold.

����� (4) If any part of the purchase price at an execution sale is paid with a cashier�s check, the sheriff shall deposit the check in a financial institution not later than the end of the first business day after the day on which the sale is conducted. The check must be deposited in a separate account.

����� (5) If the sheriff receives verification from a financial institution within 15 days after the date of the execution sale that all cashier�s checks delivered to the sheriff for a purchase have received final settlement, the sale is effective as of the date and hour of the sale, and the purchaser has priority over any interest acquired in the real property after that time. The sheriff shall thereafter:

����� (a) Mail to the purchaser by first class mail a certificate of sale as provided under ORS