Chapter 110 Oregon Laws 2005

AN ACT

HB 2031

Relating to instruments; amending ORS 293.465, 293.470, 293.475 and 293.480.

Be It Enacted by the People of the State of Oregon:

SECTION 1. ORS 293.465 is amended to read:

293.465. (1) As used in ORS 293.465 to 293.485:

(a) “Instrument” means a warrant, check or order[,] issued by the state, or by any board, department, commission or officer of the state, or an electronic image or record of such a warrant, check or order.

(b) “Subdivision” means any county, municipal corporation, quasi-municipal corporation, or civil or political subdivision in this state.

(2) Subject to ORS 293.470, [no] an instrument [shall] may not be paid until [such] the instrument, or the duplicate thereof issued under ORS 293.475, is [surrendered and delivered to the officer charged with the payment thereof, contemporaneously with payment or prior thereto] presented for payment as provided by law for such instrument.

SECTION 2. ORS 293.470 is amended to read:

293.470. (1) An instrument may be paid without [surrender or delivery thereof] presentment if the [one] person claiming to be the lawful owner of the instrument satisfies the officer by whom payment is to be made that the instrument has been lost, stolen or destroyed prior to the claimant’s having received value [therefor] for the instrument or having negotiated the instrument, in compliance with ORS 293.475.

(2) Notwithstanding subsection (1) of this section, [no] a person, including an officer or employee, [shall be] is not required to furnish a bond of indemnity for the amount of the lost instrument in cases of destroyed, stolen or lost [warrants, checks or orders] instruments, but [shall be] is required to furnish a statement as provided in ORS 293.475.

SECTION 3. ORS 293.475 is amended to read:

293.475. (1) Upon satisfactory showing by the lawful owner of an instrument of the loss, destruction or theft of the instrument, the proper officer, board, department or commission that issued the original instrument, or the issuer’s duly authorized legal successor, may issue a duplicate in lieu thereof for the same amount as the original. The duplicate shall bear the signature of the officer charged with the duty of signing instruments as of the date of issuance of the duplicate.

(2) Before a duplicate instrument is issued, the person making application for its issue shall furnish to the issuing officer a written statement signed by [such] the person specifically alleging that the person is the lawful owner, payee or legal representative of the lawful owner or payee of the original instrument giving the date of issue, the number, amount, for what services or claim the original instrument was issued and that the original instrument has been lost, destroyed or stolen, and has not been paid. However, if the lawful owner, payee or legal representative is (a) the federal government or (b) this state or any board, department, commission or subdivision of this state, or any officer thereof in official capacity, a certificate may be furnished in lieu of an affidavit or affirmation.

(3) The officer, board, department or commission issuing the duplicate instrument shall [have the duty of searching for the original instrument out of the paid instruments returned from the State Treasurer to such officer, board, department or commission] search its records to determine whether the original instrument was paid. If [such] the original instrument is found, it shall immediately be returned to the State Treasurer[.] or, if a record of payment is found, the State Treasurer shall be notified immediately. The State Treasurer shall [then] promptly return the instrument to the presenting or payer bank for credit or shall promptly notify the presenting or payer bank of the record of payment. The State Treasurer [shall not be] is not liable for inability to obtain credit from the presenting or payer bank for an instrument returned under this section or for an instrument for which the State Treasurer notifies the presenting or payer bank of a record of payment.

SECTION 4. ORS 293.480 is amended to read:

293.480. State officers, boards, departments or commissions lawfully issuing [checks or orders] instruments upon the State Treasurer may adopt the uniform procedure of issuing and delivering to all parties entitled thereto duplicate [checks or orders] instruments to replace those lost, stolen or destroyed, in accordance with ORS 293.475.

Approved by the Governor June 6, 2005

Filed in the office of Secretary of State June 7, 2005

Effective date January 1, 2006

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