ORS 292.070 Withholding compensation to purchase United States Savings Bonds or other obligations; Employes’ Bond Savings Account; rules

As used in ORS 292.070 to 292.110:

“Compensation” means salaries and wages.

“State employees” means state officers and employees, including minors.

The Oregon Department of Administrative Services, pursuant to such rules as it may adopt, is authorized, with the approval of state employees, to withhold from their compensation sums with which to purchase for them United States Savings Bonds or other obligations of the United States of America and to deposit such sums with the State Treasurer in a trust account entitled Employes’ Bond Savings Account. The account shall be subject to withdrawal, in whole or in part, upon the check or written order of the department, or of such persons as may be deputized by it, for the purposes provided in ORS 292.070 to 292.110. The account, with its component items, shall be exempt from garnishment, attachment or execution under the laws of this state.