OAR 123-110-0003: Permissible Investments, Activities, and Services

(1) The Board may invest moneys from the Account or the Fund into Investment Vehicles to encourage investment in and availability of capital to businesses in this state and to increase resources available to local governments and state agencies that create, facilitate, maintain and promote financial services and support, consistent with ORS 284.881 to 284.890. (2) Investments shall be made primarily through third-party fund managers with demonstrated expertise in relevant investment strategies. The Board shall not make direct investments in individual companies, except as may occur through such Investment Vehicles. (3) The Board may fund loans, credit enhancements, or other financial commitments that support economic development and access to capital in Oregon from the Fund. The Board may fund grants from the Fund only when such awards are consistent with the Investment Policy Statement. (4) In administering the Account and the Fund, the Board may engage in activities necessary to fulfill its responsibilities, including but not limited to establishing an Investment Policy Statement to be adopted by the Board; updating a strategic plan; approving capital commitments; contracting with management companies; reviewing and evaluating investment performance; and reporting activities and outcomes to Oregon Legislature.