Terms Used In Oregon Statutes > Chapter 285B > Lenders Loan Loss Reserve Account Award Program

• Amortization: Paying off a loan by regular installments.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Board: means the State Marine Board. See Oregon Statutes 830.005
• Boat: means every description of watercraft, including a seaplane on the water and not in flight, used or capable of being used as a means of transportation on the water, but does not include boathouses, floating homes, air mattresses, beach and water toys or single inner tubes. See Oregon Statutes 830.005
• 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.
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• 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}
• Length: means the length of a boat measured from end to end over the deck excluding sheer. See Oregon Statutes 830.005
• 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
• Motorboat: means any boat propelled in whole or in part by machinery, including boats temporarily equipped with detachable motors. See Oregon Statutes 830.005
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Peace officer: includes a member of the Oregon State Police, a sheriff or deputy sheriff, a city police officer, an authorized tribal police officer as defined in ORS § 181A. See Oregon Statutes 830.005
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100