(2) The program shall be the custodian of any securities or other property accepted as a gift, bequest or devise. The program shall hold such property as trustee for the state and shall conserve and administer such property to carry out the purposes of ORS 359.010 to 359.142. Except as prohibited by law or restricted by the terms of the gift, bequest or devise, the program may sell or exchange any property accepted as a gift, bequest or devise as it may from time to time determine. The income from such money, securities or other property shall be credited to the Arts Trust Account established by ORS 359.120. [1967 c.321 §11; 1993 c.209 §12]
Structure 2021 Oregon Revised Statutes
Volume : 09 - Education and Culture
Section 359.010 - Definitions for ORS 359.010 to 359.142.
Section 359.025 - Commission duties.
Section 359.030 - Objectives of Arts Program.
Section 359.040 - Duties of Arts Program.
Section 359.050 - Powers of Arts Program.
Section 359.065 - Arts Program established.
Section 359.100 - Grants and services from public and private sources.
Section 359.110 - Gifts; Arts Program as custodian.
Section 359.130 - Powers not granted or transferred.
Section 359.135 - Administrator; appointment; salary; duties.
Section 359.200 - Definitions for ORS 359.200 to 359.255.
Section 359.220 - Consignment contract requirements.
Section 359.240 - Secreting, withholding or appropriating art work or sale proceeds; penalty.
Section 359.250 - Liability of art dealer for violation of ORS 359.220.
Section 359.300 - Definitions for ORS 359.300 to 359.315.
Section 359.305 - Disclosure statements required; disclaimer; exception for reproduction.
Section 359.310 - Contents of disclosure statement.
Section 359.315 - Liability for failure to disclose; treble damages.
Section 359.350 - Definitions for ORS 359.350 to 359.365.
Section 359.400 - Definitions for ORS 359.400 to 359.444.
Section 359.405 - Trust for Cultural Development Account.
Section 359.407 - Use of moneys transferred to trust for marketing and promotional costs.
Section 359.410 - Board established; membership; chairperson.
Section 359.413 - Board quorum; meetings.
Section 359.416 - Board duties; rules.
Section 359.421 - Board staff; staff duties.
Section 359.426 - Percentage that may be disbursed; allowable uses.
Section 359.431 - Cultural Development Grant Program; grant uses; priorities; matching funds.
Section 359.436 - Community Cultural Participation Grant Program; local cultural plans.
Section 359.441 - Core partner agencies disbursement.
Section 359.444 - Allowable uses of funds by core partner agencies.