Involuntary Acquisition of Property by the Government
(1)State or local government ownership or control of property by involuntary acquisition or involuntary transfers within the meaning of ORS 465.255 (Strict liability for remedial action costs for injury or destruction of natural resource)(3)(a)(A) includes, but is not limited to:
(a)Involuntary acquisitions by or transfers to a state or local government entity in its capacity as a sovereign, including transfers or acquisitions pursuant to abandonment proceedings, or as the result of tax delinquency, bankruptcy, or escheat, or other circumstances in which the government involuntarily obtains ownership or control of property by virtue of its function as sovereign;
(b)Acquisitions by or transfers to a state or local government entity or its agent (including governmental lending and credit institutions, loan guarantors, loan insurers, and financial regulatory entities that acquire security interests or properties of failed private lending or depository institutions) acting as a conservator or receiver pursuant to statutory mandate or regulatory authority;
(c)Acquisitions or transfers of assets through foreclosure or its equivalents or other means by a state or local government entity in the course of administering a governmental loan or loan guarantee or loan insurance program; and
(d)Acquisitions by or transfers to a state or local government entity pursuant to seizure or forfeiture authority.
(2)Nothing in this rule affects the applicability of OAR 340-122-0120 (Security Interest Exemption) to any security interest, property, or asset acquired by a state or local governmental entity pursuant to an involuntary acquisition or transfer.
(3)Notwithstanding the exemptions in section (1) of this rule, a governmental entity may be subject to the independent bases of liability set forth in ORS 465.255 (Strict liability for remedial action costs for injury or destruction of natural resource).
(4)This rule applies only to liability under ORS 465.200 (Definitions for ORS 465.200 to 465.545) et seq. and does not apply to any right that the state or any person may have under federal statute, common law, or state statute other than ORS 465.200 (Definitions for ORS 465.200 to 465.545) et seq. to recover remedial action costs or to seek any other relief related to a release.
Rule 340-122-0130 — Involuntary Acquisition of Property by the Government,