ORS 293.723: Discrete investment of moneys.

(1) Moneys in a fund established by law may not be discretely invested unless the law establishing the fund specifically indicates that the moneys may be invested. A provision in a law establishing a fund that requires interest earned by the fund to be retained by the fund is not, by itself, a specific indication that the moneys in the fund may be discretely invested.

      (2) As used in this section, “discretely invested” means invested in something other than the Oregon Short Term Fund established under ORS 293.728.