Terms Used In Oregon Statutes > Chapter 264 > Formation

• 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.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Counterclaim: A claim that a defendant makes against a plaintiff.
• County: means the county in which the district, or the greater portion of the taxable assessed value of the district, is located. See Oregon Statutes 264.010
• County board: means the county court or board of county commissioners of the county. See Oregon Statutes 264.010
• District: means a domestic water supply district formed under this chapter. See Oregon Statutes 264.010
• Owner: means the holder of the record title to real property or the vendee under a land sale contract, if there is such a contract. See Oregon Statutes 264.010
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}