Oregon Statutes 105.774 – Exclusions from application of ORS 105.770 and 105.772
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ORS § 105.770 to 105.774 shall not apply to conveyances made in favor of:
Terms Used In Oregon Statutes 105.774
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- local government: means all cities, counties and local service districts located in this state, and all administrative subdivisions of those cities, counties and local service districts. See Oregon Statutes 174.116
(1) The State of Oregon or any unit of local government as defined in ORS § 190.003; or
(2) A corporation so long as it remains qualified as a nonprofit corporation pursuant to ORS Chapter 65. If a corporation ceases to be so qualified, the conveyance to said corporation shall be treated in the same manner as a conveyance subject to the provisions of ORS § 105.772. [1977 c.723 § 3]
SUBSTANTIAL DAMAGE FROM FLOODING TO RESIDENTIAL STRUCTURES