Terms Used In Oregon Statutes > Chapter 178 - State Treasurer; Oregon Retirement Savings Plan; Oregon 529 Savings Network Network

• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Appraisal: A determination of property value.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Board: means the Construction Contractors Board. See Oregon Statutes 701.005
• Board: means the State Board of Forestry. See Oregon Statutes 526.005
• Business: means any corporation, partnership, proprietorship, firm, enterprise, franchise, association, organization, self-employed individual and any other legal entity operated for economic gain but excluding any income-producing not-for-profit corporation that is tax exempt under section 501(c) of the Internal Revenue Code with which a public official or a relative of the public official is associated only as a member or board director or in a nonremunerative capacity. See Oregon Statutes 244.020
• Candidate: means an individual for whom a declaration of candidacy, nominating petition or certificate of nomination to public office has been filed or whose name is printed on a ballot or is expected to be or has been presented, with the individual's consent, for nomination or election to public office. See Oregon Statutes 244.020
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Contractor: means any of the following:

  (a) A person that, for compensation or with the intent to sell, arranges or undertakes or offers to undertake or submits a bid to construct, alter, repair, add to, subtract from, improve, inspect, move, wreck or demolish, for another, a building, highway, road, railroad, excavation or other structure, project, development or improvement attached to real estate, or to do any part thereof. See Oregon Statutes 701.005

• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the State Forestry Department. See Oregon Statutes 526.005
• Dependent: A person dependent for support upon another.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Fiduciary: A trustee, executor, or administrator.
• First Partner: means the spouse or domestic partner of the Governor, or an individual who primarily has a personal relationship with the Governor as determined by the Oregon Government Ethics Commission by rule. See Oregon Statutes 244.020
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Forester: means the State Forester or the authorized representative of the forester. See Oregon Statutes 526.005
• Forestland: means any woodland, brushland, timberland, grazing land or clearing that, during any time of the year, contains enough forest growth, slashing or vegetation to constitute, in the judgment of the forester, a fire hazard, regardless of how the land is zoned or taxed. See Oregon Statutes 526.005
• Fraud: Intentional deception resulting in injury to another.
• Gender identity: means an individual's gender-related identity, appearance, expression or behavior, regardless of whether the identity, appearance, expression or behavior differs from that associated with the gender assigned to the individual at birth. See Oregon Statutes 174.100
• General contractor: means a contractor whose business operations require the use of more than two unrelated building trades or crafts that the contractor supervises or performs in whole or part, whenever the sum of all contracts on any single property, including materials and labor, exceeds an amount established by rule by the board. See Oregon Statutes 701.005
• Grantor: The person who establishes a trust and places property into it.
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Home inspector: means a person who, for a fee, inspects and provides written reports on the overall physical condition of a residential structure. See Oregon Statutes 701.005
• Honorarium: means a payment or something of economic value given to a public official in exchange for services upon which custom or propriety prevents the setting of a price. See Oregon Statutes 244.020
• Income: means income of any nature derived from any source, including, but not limited to, any salary, wage, advance, payment, dividend, interest, rent, honorarium, return of capital, forgiveness of indebtedness, or anything of economic value. See Oregon Statutes 244.020
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Member of the household: means any person who resides with the public official or candidate. See Oregon Statutes 244.020
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• Nonindustrial private forest landowner: means any forest landowner who does not own a forest products manufacturing facility that employs more than six people. See Oregon Statutes 526.005
• Officer: means any of the following persons:

  (a) A president, vice president, secretary, treasurer or director of a corporation. See Oregon Statutes 701.005

• Planning commission: means a county planning commission created under ORS Chapter 215 or a city planning commission created under ORS Chapter 227. See Oregon Statutes 244.020
• Probation officers: Screen applicants for pretrial release and monitor convicted offenders released under court supervision.
• Public defender: Represent defendants who can't afford an attorney in criminal matters.
• Public office: has the meaning given that term in ORS § 260. See Oregon Statutes 244.020
• Public official: means the First Partner and any person who, when an alleged violation of this chapter occurs, is serving the State of Oregon or any of its political subdivisions or any other public body as defined in ORS § 174. See Oregon Statutes 244.020
• Responsible managing individual: means an individual who:

  (a) Is an owner described in ORS § 701. See Oregon Statutes 701.005

• Sexual orientation: means an individual's actual or perceived heterosexuality, homosexuality or bisexuality. See Oregon Statutes 174.100
• Share: means a unit into which the proprietary interest in a corporation is divided. See Oregon Statutes 60.001
• Shareholder: means a person in whose name a share is registered in the records of a corporation or the beneficial owner of a share to the extent of the rights granted by a nominee certificate on file with a corporation. See Oregon Statutes 60.001
• special government body: means any of the following:

  (a) A public corporation created under a statute of this state and specifically designated as a public corporation. See Oregon Statutes 174.117

• Specialty contractor: includes a person who performs work regulated under ORS § 446. See Oregon Statutes 701.005
• Statement of economic interest: means a statement as described by ORS § 244. See Oregon Statutes 244.020
• Subscriber: means a person who subscribes for shares in a corporation, whether before or after incorporation. See Oregon Statutes 60.001
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Uphold: The decision of an appellate court not to reverse a lower court decision.
• Violate: includes failure to comply. See Oregon Statutes 174.100
• Worker leasing company: means a person licensed under ORS § 656. See Oregon Statutes 701.005