Section 475C.025 - Powers related to decedents and insolvent or bankrupt persons; rules The Oregon Liquor and Cannabis Commission may, by rule or order, provide for the manner and conditions under which:
(1) Marijuana items left by a deceased, insolvent or bankrupt person or licensee, or subject to a security interest, may be foreclosed, sold under execution or otherwise disposed.(2) The business of a deceased, insolvent or bankrupt licensee may be operated for a reasonable period following the death, insolvency or bankruptcy.(3) A secured party, as defined in ORS 79.0102, may continue to operate at a premises for which a license has been issued under ORS 475C. 005 to 475C. 525 or 475C. 548 for a reasonable period after default on the indebtedness by the debtor.Amended by 2023 Ch. 519,§ 7, eff. 9/24/2023, op. 1/1/2024.