(2) If a lender, surety or other person who supplies funds to or for the account of an employer for the purpose of paying wages of the employees of the employer has actual notice or knowledge that the employer does not intend to or will not be able to make timely payment or deposit of the tax required to be deducted and withheld, the lender, surety or other person shall be liable to the State of Oregon in a sum equal to the taxes together with interest which are not timely paid over to the department. This liability shall be limited to the principal amount supplied by the lender, surety or other person, and any amounts so paid to the department shall be credited against the liability of the employer.
(3) With the approval of the Oregon Department of Administrative Services, the department may enter into contracts with banking institutions including but not limited to Federal Reserve Banks, incorporated banks, trust companies, domestic building and loan associations, savings and loan associations or credit unions authorizing them to receive as financial agents of the department any tax required to be withheld and paid to the department. [1969 c.493 §25; 1975 c.394 §1; 1977 c.604 §2; 1982 s.s.1 c.1 §1; 2019 c.134 §2]
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