Or. Admin. Code § 340-122-0130

Current through Register Vol. 63, No. 10, October 1, 2024

Section 340-122-0130 - Involuntary Acquisition of Property by the Government

(1) State or local government ownership or control of property by involuntary acquisition or involuntary transfers within the meaning of ORS 465.255(3)(a)(A) includes, but is not limited to:

(a) Involuntary acquisitions by or transfers to a state or local government entity in its capacity as a sovereign, including transfers or acquisitions pursuant to abandonment proceedings, or as the result of tax delinquency, bankruptcy, or escheat, or other circumstances in which the government involuntarily obtains ownership or control of property by virtue of its function as sovereign;

(b) Acquisitions by or transfers to a state or local government entity or its agent (including governmental lending and credit institutions, loan guarantors, loan insurers, and financial regulatory entities that acquire security interests or properties of failed private lending or depository institutions) acting as a conservator or receiver pursuant to statutory mandate or regulatory authority;

(c) Acquisitions or transfers of assets through foreclosure or its equivalents or other means by a state or local government entity in the course of administering a governmental loan or loan guarantee or loan insurance program; and

(d) Acquisitions by or transfers to a state or local government entity pursuant to seizure or forfeiture authority.

(2) Nothing in this rule affects the applicability of OAR 340-122-0120 to any security interest, property, or asset acquired by a state or local governmental entity pursuant to an involuntary acquisition or transfer.

(3) Notwithstanding the exemptions in section (1) of this rule, a governmental entity may be subject to the independent bases of liability set forth in ORS 465.255.

(4) This rule applies only to liability under ORS 465.200 et seq. and does not apply to any right that the state or any person may have under federal statute, common law, or state statute other than ORS 465.200 et seq. to recover remedial action costs or to seek any other relief related to a release.

Or. Admin. Code § 340-122-0130

DEQ 29-1992, f. & cert. ef. 12-17-92

Stat. Auth.: ORS 465.400, ORS 465.435 & ORS 465.440

Stats. Implemented: ORS 465.200 - ORS 465.455, ORS 465.900, ORS 466.706 - ORS 466.835 & ORS 466.895