Oregon Statutes 285B.050 – Definitions for ORS 285B.050 to 285B.098
As used in ORS § 285B.050 to 285B.098, unless the context requires otherwise:
Terms Used In Oregon Statutes 285B.050
- City: includes any incorporated village or town. See Oregon Statutes 174.100
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
(1) ‘Applicant’ means any county, municipality, person or any combination of counties, municipalities or persons applying for a loan from the Oregon Business Development Fund under ORS § 285B.050 to 285B.098.
(2)(a) ‘Business development project’ means the acquisition, engineering, improvement, rehabilitation, construction, operation or maintenance of any property, real or personal, including working capital expenses, that is used or is suitable for use by an economic enterprise and that will result in, or will aid, promote or facilitate, development of traded sector activities.
(b) ‘Business development project’ includes, but is not limited to, convention facilities, destination facilities and office buildings, including corporate headquarters, and is a project that:
(A) Is located in Oregon and in the traded sector or that supports traded sector activities; or
(B) If engaged in by a nonprofit organization:
(i) Will not compete with local for-profit businesses; and
(ii) Need not be in the traded sector nor support traded sector activities.
(c) ‘Business development project’ does not include shopping centers, food service facilities or activities that are engaged in by retail and service businesses that are not in the traded sector unless otherwise allowed under ORS § 285B.059 (5).
(3) ‘Collateral’ has the meaning given that term in ORS § 79.0102 for property subject to a security interest.
(4) ‘County’ means any county or federally recognized Oregon Indian tribe.
(5) ‘Local development group’ means any public or private corporation that has as one of its primary purposes, as stated in its articles of incorporation, charter or bylaws, the promotion of economic development in any part of the State of Oregon.
(6) ‘Municipality’ means any city, municipal corporation or quasi-municipal corporation.
(7) ‘Person’ means any individual, association of individuals, joint venture, partnership, limited liability company or corporation.
(8) ‘Traded sector’ has the meaning given that term in ORS § 285B.280.
(9) ‘Traded sector activities’ means activities that produce goods or services for the traded sector. [Formerly 285.403; 2001 c.445 § 171; 2003 c.167 § 1; 2007 c.804 § 40; 2009 c.830 § 49; 2011 c.558 § 1; 2017 c.37 § 1]