OAR 863-015-0265: Interest-Bearing Accounts

(1) The written approval necessary to establish a federally insured interest-bearing clients’ trust account must specify to whom and under what circumstances the interest earnings from the account will accrue and be paid. (2) In a transaction subject to ORS 696.241(7), funds belonging to others may not be invested in any type of account or security or certificate of deposit that has a fixed term for maturity or imposes any fee or penalty for withdrawal before maturity unless the written consent of all parties to the transaction has been secured.