If there is an interstate compact or agreement or an informal arrangement with another state permitting the adjudicated youth to reside in another state while on probation or under protective supervision, or to be placed in an institution or with an agency in another state, the court may place the adjudicated youth on probation or under protective supervision in such other state, or, subject to ORS 419C. 495, place the adjudicated youth in an institution in such other state in accordance with the compact, agreement or arrangement.
ORS 419C.498