General Provisions
Partnerships
Limited Liability Partnerships
Foreign Limited Liability Partnerships
Miscellaneous
Penalty
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Terms Used In Oregon Statutes > Chapter 67 - Partnerships; Limited Liability Partnerships

  • Acquittal:
    1. Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
    2. A verdict of "not guilty."
     
  • Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
  • Adjournment sine die: The end of a legislative session "without day." These adjournments are used to indicate the final adjournment of an annual or the two-year session of legislature.
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • Amortization: Paying off a loan by regular installments.
  • Anniversary: means the day each year exactly one or more years after:

    (a) The date on which the Secretary of State files the articles of incorporation for a cooperative. See Oregon Statutes 62.015

  • Any other state: includes any state and the District of Columbia. See Oregon Statutes 174.100
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Appraisal: A determination of property value.
  • approval by the members: means approved or ratified by members entitled to vote on an issue through either:

    (a) The affirmative vote of a majority of the votes of the members represented and voting at a duly held meeting at which a quorum is present or the affirmative vote of a greater proportion including the votes of any required proportion of the members of any class as the articles of incorporation, bylaws or this chapter may provide for specified types of member action; or

    (b) A written ballot or written consent in conformity with this chapter. See Oregon Statutes 65.001

  • Arrest: Taking physical custody of a person by lawful authority.
  • Articles of incorporation: means the articles described in ORS § 60. See Oregon Statutes 60.001
  • Articles of incorporation: means the articles of incorporation described in ORS § 65. See Oregon Statutes 65.001
  • Articles of merger: means the articles of merger described in ORS § 65. See Oregon Statutes 65.001
  • Assets: means property, a right or a claim with future objectively measurable value that is owned or effectively controlled by a credit union. See Oregon Statutes 723.001
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Attorney fees: has the meaning given that term in ORCP 68 A. See Oregon Statutes 131A.005
  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • Authorized shares: means the shares of all classes that a domestic or foreign corporation is authorized to issue. See Oregon Statutes 60.001
  • Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
  • 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
  • Bequest: Property gifted by will.
  • Board: means the State Land Board. See Oregon Statutes 273.006
  • Board of directors: means the individual or individuals who are vested with overall management of the affairs of a domestic corporation or foreign corporation, irrespective of the name that designates the individual or individuals. See Oregon Statutes 65.001
  • Bond: means a contractual undertaking or instrument of a public body to repay borrowed moneys. See Oregon Statutes 287A.001
  • Business: includes every trade, occupation, profession and commercial activity. See Oregon Statutes 67.005
  • Bylaws: means a set of provisions for managing and regulating a corporation's affairs that the corporation must adopt under ORS § 65. See Oregon Statutes 65.001
  • Capital: means a credit union's reserves, undivided earnings and allowances for loan loss. See Oregon Statutes 723.001
  • Capital construction: has the meaning given that term in ORS § 310. See Oregon Statutes 287A.001
  • Capital costs: has the meaning given that term in ORS § 310. See Oregon Statutes 287A.001
  • Capital improvements: has the meaning given that term in ORS § 310. See Oregon Statutes 287A.001
  • Certificate of limited partnership: means the certificate referred to in ORS § 70. See Oregon Statutes 70.005
  • Chambers: A judge's office.
  • Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
  • Child support award: means a money award or agency order that requires the payment of child support and that is entered under ORS § 25. See Oregon Statutes 18.005
  • City: includes any incorporated village or town. See Oregon Statutes 174.100
  • Civil forfeiture: The loss of ownership of property used to conduct illegal activity.
  • Class: means a group of memberships that have the same rights, including rights that are determined by a formula that is applied uniformly, with respect to voting, dissolution, redemption and transfer. See Oregon Statutes 65.001
  • 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.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Condemner: means the state, any city, county, school district, municipal or public corporation, political subdivision or any instrumentality or any agency thereof or a private corporation that has the power to exercise the right of eminent domain. See Oregon Statutes 35.215
  • Contact information: means a street address, a mailing address or an electronic address at which a member or director elects to receive notices and other messages from the corporation. See Oregon Statutes 65.001
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • Contribution: means any cash, property, services rendered, or a promissory note or other binding obligation to contribute cash or property or to perform services, that a partner contributes to a limited partnership in the capacity as a partner. See Oregon Statutes 70.005
  • Contribution: means anything of value that a person contributes to the limited liability company as a prerequisite for or in connection with membership including cash, property or services rendered or a promissory note or other binding obligation to contribute cash or property or to perform services. See Oregon Statutes 63.001
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: means a domestic corporation or a foreign corporation. See Oregon Statutes 65.001
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • County court: includes board of county commissioners. See Oregon Statutes 174.100
  • County recording officer: means the county clerk or other county officer carrying out ORS § 205. See Oregon Statutes 273.006
  • Court administrator: means a trial court administrator in a circuit court that has a trial court administrator and the clerk of the court in all other courts. See Oregon Statutes 18.005
  • Credit enhancement device: means a letter of credit, line of credit, standby bond purchase agreement, bond insurance policy, reserve surety bond or other device or facility used to enhance the creditworthiness, liquidity or marketability of bonds or agreements for exchange of interest rates. See Oregon Statutes 287A.001
  • Criminal action: has the meaning given in ORS § 131. See Oregon Statutes 18.005
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defense attorney: Represent defendants in criminal matters.
  • Deliver: means to transfer by any method of delivery used in conventional commercial practice, including delivery by hand, mail, commercial delivery and electronic transmission. See Oregon Statutes 65.001
  • Delivery: means any method of delivery used in conventional commercial practice, including by hand, mail, commercial delivery and, in accordance with ORS § 60. See Oregon Statutes 60.001
  • Department: means the Department of State Lands. See Oregon Statutes 273.006
  • Department: means the Department of State Lands. See Oregon Statutes 274.005
  • Department: means the Oregon Department of Administrative Services. See Oregon Statutes 276.001
  • Department: means the Department of Consumer and Business Services. See Oregon Statutes 723.001
  • Dependent: A person dependent for support upon another.
  • Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
  • Devise: To gift property by will.
  • Director: means the Director of the Department of State Lands. See Oregon Statutes 273.006
  • Director: means the Director of the Department of State Lands. See Oregon Statutes 274.005
  • Director: means the Director of the Oregon Department of Administrative Services. See Oregon Statutes 276.001
  • Director: means the Director of the Department of Consumer and Business Services. See Oregon Statutes 723.001
  • Director: means an individual who acts as a member of the board of directors, who has a right to vote on questions concerning the management and regulation of a corporation's affairs and who is:

    (a) An appointed director;

    (b) A designated director; or

    (c) A director elected by the incorporators, directors or members. See Oregon Statutes 65.001

  • 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:
  • Dissociated partner: means a partner with respect to whom an event specified in ORS § 67. See Oregon Statutes 67.005
  • Distribution: means a direct or indirect transfer of money or other property, except of a corporation's own shares, or a corporation's incurrence of indebtedness to or for the benefit of the corporation's shareholders in respect of any of the corporation's shares, in the form of a declaration or payment of a dividend, a purchase, redemption or other acquisition of shares, a distribution of indebtedness, or otherwise. See Oregon Statutes 60.001
  • Distribution: means a payment to a person from the income or assets of a corporation, other than a payment of reasonable value to a person for property received or services performed or a payment that furthers the corporation's purposes. See Oregon Statutes 65.001
  • Distribution: means a transfer of money or other property from a partnership to a partner in the partner's capacity as a partner or to the partner's transferee. See Oregon Statutes 67.005
  • Docket: A log containing brief entries of court proceedings.
  • Domestic business corporation: means a for profit corporation that is incorporated under ORS Chapter 60. See Oregon Statutes 65.001
  • domestic corporation: means a corporation for profit that is incorporated under or subject to the provisions of this chapter and that is not a foreign corporation. See Oregon Statutes 60.001
  • Domestic limited liability company: means an entity that is an unincorporated association having one or more members and that is organized under ORS Chapter 63. See Oregon Statutes 70.005
  • Domestic limited liability company: means an entity that is an unincorporated association that has one or more members and that is organized under ORS Chapter 63. See Oregon Statutes 60.001
  • Domestic limited liability company: means an entity that is an unincorporated association that has one or more members and that is organized under ORS Chapter 63. See Oregon Statutes 62.015
  • Domestic limited liability company: means an unincorporated association that has one or more members and that is organized under ORS Chapter 63. See Oregon Statutes 65.001
  • Domestic nonprofit corporation: means a corporation not for profit incorporated under ORS Chapter 65. See Oregon Statutes 70.005
  • Domestic nonprofit corporation: means a corporation not for profit that is incorporated under ORS Chapter 65. See Oregon Statutes 60.001
  • Domestic nonprofit corporation: means a corporation not for profit that is incorporated under ORS Chapter 65. See Oregon Statutes 62.015
  • Domestic nonprofit corporation: means a corporation not for profit that is incorporated under ORS Chapter 65. See Oregon Statutes 63.001
  • domestic professional corporation: means a corporation organized under this chapter for the specific purpose of rendering professional service or services and for such other purposes provided under this chapter. See Oregon Statutes 58.015
  • Domestic professional corporation: means a corporation organized under ORS Chapter 58 for the purpose of rendering professional services and for the purposes provided under ORS Chapter 58. See Oregon Statutes 70.005
  • Domestic professional corporation: means a corporation that is organized under ORS Chapter 58 for the purpose of rendering professional services and for the purposes provided under ORS Chapter 58. See Oregon Statutes 60.001
  • Domestic professional corporation: means a corporation that is organized under ORS Chapter 58 for the purpose of rendering professional services and for the purposes provided under ORS Chapter 58. See Oregon Statutes 63.001
  • Domestic professional corporation: means a corporation that is organized under ORS Chapter 58 for the purpose of rendering professional services and for the purposes provided under ORS Chapter 58. See Oregon Statutes 65.001
  • Donor: The person who makes a gift.
  • Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
  • Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
  • Employee: means an individual that a corporation employs, including an officer or director whom the corporation employs with compensation for services beyond the services of board membership. See Oregon Statutes 65.001
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Entity: means a corporation, foreign corporation, nonprofit corporation, profit or nonprofit unincorporated association, business trust, partnership, two or more persons that have a joint or common economic interest, any state, the United States, a federally recognized Native American or American Indian tribal government and any foreign government. See Oregon Statutes 60.001
  • Entity: means a domestic corporation, foreign corporation, business corporation and foreign business corporation, profit and nonprofit unincorporated association, corporation sole, business trust, partnership, two or more persons that have a joint or common economic interest, any state, the United States, a federally recognized Native American or American Indian tribal government and any foreign government. See Oregon Statutes 65.001
  • 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
  • Equity: means a credit union's reserves and undivided earnings. See Oregon Statutes 723.001
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Ex officio: Literally, by virtue of one's office.
  • executive department: means all statewide elected officers other than judges, and all boards, commissions, departments, divisions and other entities, without regard to the designation given to those entities, that are within the executive branch of government as described in Article III, section 1, of the Oregon Constitution, and that are not:

    (a) In the judicial department or the legislative department;

    (b) Local governments; or

    (c) Special government bodies. See Oregon Statutes 174.112

  • Executor: A male person named in a will to carry out the decedent
  • Exhibits: means exhibits offered and received or rejected in the trial court. See Oregon Statutes 19.005
  • Extradition: The formal process of delivering an accused or convicted person from authorities in one state to authorities in another state.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Farm use: has the meaning given that term in ORS § 215. See Oregon Statutes 215.010
  • 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
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Financial institution: means any person lawfully conducting business as:

    (a) A financial institution or trust company, as those terms are defined in ORS § 706. See Oregon Statutes 131A.005

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Foreign business corporation: means a for profit corporation that is incorporated under laws other than the laws of the state. See Oregon Statutes 65.001
  • Foreign corporation: means a corporation for profit incorporated under laws other than the laws of this state. See Oregon Statutes 70.005
  • Foreign corporation: means a corporation for profit that is incorporated under laws other than the laws of the state. See Oregon Statutes 60.001
  • Foreign corporation: means a corporation for profit that is incorporated under laws other than the laws of this state. See Oregon Statutes 62.015
  • Foreign corporation: means a corporation that is organized under laws other than the laws of the state and that would be a nonprofit corporation if organized under the laws of the state. See Oregon Statutes 65.001
  • Foreign limited liability company: means an entity that is an unincorporated association organized under laws other than the laws of this state and that is organized under a statute under which an association may be formed that affords to each of the entity's members limited liability with respect to liabilities of the entity. See Oregon Statutes 70.005
  • Foreign limited liability company: means an entity that is an unincorporated association organized under laws other than the laws of the state and that is organized under a statute under which an association may be formed that affords to each of the entity's members limited liability with respect to liabilities of the entity. See Oregon Statutes 60.001
  • Foreign limited liability company: means an entity that is an unincorporated association organized under laws other than the laws of this state and that is organized under a statute under which an association may be formed that affords to each of the entity's members limited liability with respect to liabilities of the entity. See Oregon Statutes 62.015
  • Foreign limited liability company: means an unincorporated association that is organized under laws other than the laws of the state and under a statute that permits an entity to organize and that affords to each of the entity's members limited liability with respect to liabilities of the entity. See Oregon Statutes 65.001
  • Foreign limited liability partnership: means a partnership that:

    (a) Is formed under laws other than the law of this state; and

    (b) Has the status of a limited liability partnership under those laws. See Oregon Statutes 67.005

  • Foreign limited partnership: means a partnership formed under laws other than the laws of this state and having as partners one or more general partners and one or more limited partners. See Oregon Statutes 70.005
  • Foreign nonprofit corporation: means a corporation not for profit organized under laws other than the laws of this state. See Oregon Statutes 70.005
  • Foreign nonprofit corporation: means a corporation not for profit that is organized under laws other than the laws of the state. See Oregon Statutes 60.001
  • Foreign nonprofit corporation: means a corporation not for profit that is organized under laws other than the laws of this state. See Oregon Statutes 62.015
  • Foreign professional corporation: means a professional corporation organized under laws other than the laws of this state. See Oregon Statutes 58.015
  • Foreign professional corporation: means a professional corporation organized under laws other than the laws of this state. See Oregon Statutes 70.005
  • Foreign professional corporation: means a professional corporation that is organized under laws other than the laws of the state. See Oregon Statutes 60.001
  • Foreign professional corporation: means a professional corporation that is organized under laws other than the laws of this state. See Oregon Statutes 62.015
  • Foreign professional corporation: means a professional corporation that is organized under laws other than the laws of the state. See Oregon Statutes 63.001
  • Foreign professional corporation: means a professional corporation that is organized under laws other than the laws of the state. See Oregon Statutes 65.001
  • Forfeiting agency: means a public body that is seeking forfeiture of property under this chapter. See Oregon Statutes 131A.005
  • Forfeiture counsel: means an attorney designated by a forfeiting agency to represent the forfeiting agency in forfeiture proceedings. See Oregon Statutes 131A.005
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • 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 partner: means a person who has been admitted to a limited partnership as a general partner in accordance with the partnership agreement and named in the certificate of limited partnership as a general partner. See Oregon Statutes 70.005
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
  • 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.
  • Hearsay: Statements by a witness who did not see or hear the incident in question but heard about it from someone else. Hearsay is usually not admissible as evidence in court.
  • Home state: means the state in which the credit union is chartered. See Oregon Statutes 723.001
  • Host state: means the state in which a credit union conducts business, but that is not the home state. See Oregon Statutes 723.001
  • Impeachment: (1) The process of calling something into question, as in "impeaching the testimony of a witness." (2) The constitutional process whereby the House of Representatives may "impeach" (accuse of misconduct) high officers of the federal government for trial in the Senate.
  • Incompetency: means the entry of a judgment by a court of competent jurisdiction adjudicating the member incompetent to manage the member's person or estate. See Oregon Statutes 63.001
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Individual: means a natural person or the estate of an incompetent individual or a deceased individual. See Oregon Statutes 60.001
  • Individual: means a natural person, including the guardian of an incompetent individual. See Oregon Statutes 65.001
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Instrumentality: has the meaning given in ORS § 131. See Oregon Statutes 131A.005
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • Inter vivos: Transfer of property from one living person to another living person.
  • 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
  • Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
  • Interstate credit union: means a credit union chartered under the provisions of this chapter or under the authority of the laws of another state and operating in this state and in one or more other states. See Oregon Statutes 723.001
  • Intestate: Dying without leaving a will.
  • Joint meeting: An occasion, often ceremonial, when the House and Senate each adopt a unanimous consent agreement
  • Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
  • Judgment: means a judgment or appealable order, as provided in ORS § 19. See Oregon Statutes 19.005
  • judicial department: means the Supreme Court, the Court of Appeals, the Oregon Tax Court, the circuit courts and all administrative divisions of those courts, whether denominated as boards, commissions, committees or departments or by any other designation. See Oregon Statutes 174.113
  • Juror: A person who is on the jury.
  • Jury instructions: A judge's directions to the jury before it begins deliberations regarding the factual questions it must answer and the legal rules that it must apply. Source: U.S. Courts
  • Land: includes water, water rights, easements of every nature and all appurtenances to land. See Oregon Statutes 273.006
  • Land: includes water, water rights, easements of every nature and all appurtenances to land. See Oregon Statutes 274.005
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Legacy: A gift of property made by will.
  • legislative department: means the Legislative Assembly, the committees of the Legislative Assembly and all administrative divisions of the Legislative Assembly and its committees, whether denominated as boards, commissions or departments or by any other designation. See Oregon Statutes 174.114
  • Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
  • License: includes a license, certificate of registration, permit or other legal authorization required by law as a condition precedent to the rendering of professional service or services within this state. See Oregon Statutes 58.015
  • Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
  • Limited liability partnership: means a partnership that has registered under ORS § 67. See Oregon Statutes 67.005
  • Limited partner: means a person who has been admitted to a limited partnership as a limited partner in accordance with the partnership agreement. See Oregon Statutes 70.005
  • Line of ordinary high water: means the line on the bank or shore to which the high water ordinarily rises annually in season. See Oregon Statutes 274.005
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • 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
  • Material: includes gravel, rock, sand and silt, but does not include hard minerals subject to ORS § 274. See Oregon Statutes 274.005
  • Member: means a person that is qualified and accepted for membership in a cooperative. See Oregon Statutes 62.015
  • Member: means a person that is entitled, under a domestic corporation's or foreign corporation's articles of incorporation or bylaws, to exercise any of the rights described in ORS § 65. See Oregon Statutes 65.001
  • Member-managed limited liability company: means a limited liability company other than a manager-managed limited liability company. See Oregon Statutes 63.001
  • Membership: means the rights and obligations a member has under this chapter. See Oregon Statutes 65.001
  • Membership interest: means a member's collective rights in a limited liability company, including the member's share of profits and losses of the limited liability company, the right to receive distributions of the limited liability company's assets and any right to vote or participate in management. See Oregon Statutes 63.001
  • Mistrial: An invalid trial, caused by fundamental error. When a mistrial is declared, the trial must start again from the selection of the jury.
  • Money award: means a judgment or portion of a judgment that requires the payment of money. See Oregon Statutes 18.005
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Motor vehicle with a hidden compartment: means a motor vehicle as defined in ORS § 801. See Oregon Statutes 131A.005
  • Mutual benefit corporation: means a domestic corporation that is organized to serve and operates primarily to serve the mutual interests of a group of persons, but is not a public benefit corporation or religious corporation. See Oregon Statutes 65.001
  • 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
  • National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • Nonprofit corporation: means a mutual benefit corporation, a public benefit corporation or a religious corporation. See Oregon Statutes 65.001
  • Notice: means a notice described in ORS § 65. See Oregon Statutes 65.001
  • Notice of appeal: includes a notice of cross-appeal. See Oregon Statutes 19.005
  • Oath: A promise to tell the truth.
  • Operating agreement: means any valid agreement, written or oral, of the member or members as to the affairs of a limited liability company and the conduct of the limited liability company's business. See Oregon Statutes 63.001
  • Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions.
  • Organizer: means one of the signers of the initial articles of organization. See Oregon Statutes 63.001
  • Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
  • Partner: means a limited or general partner. See Oregon Statutes 70.005
  • Partnership: means an association of two or more persons to carry on as co-owners a business for profit created under ORS § 67. See Oregon Statutes 67.005
  • Partnership agreement: means any valid agreement, written or oral, of the partners as to the affairs of a limited partnership and the conduct of the business of the limited partnership. See Oregon Statutes 70.005
  • Partnership agreement: means the agreement, whether written, oral or implied, among the partners concerning the partnership, including amendments to the partnership agreement. See Oregon Statutes 67.005
  • Partnership at will: means a partnership in which the partners have not agreed to remain partners until the expiration of a definite term or the completion of a particular undertaking. See Oregon Statutes 67.005
  • Party: includes an individual who was, is or is threatened to be made a named defendant or respondent in a proceeding. See Oregon Statutes 63.001
  • Per stirpes: The legal means by which the children of a decedent, upon the death of an ancestor at a level above that of the decedent, receive by right of representation the share of the ancestor
  • Person: means an individual, partnership, limited partnership (domestic or foreign), association or corporation. See Oregon Statutes 70.005
  • Person: means an individual or entity. See Oregon Statutes 60.001
  • Person: means an individual or an entity. See Oregon Statutes 65.001
  • Person: means an individual, corporation, business trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency, instrumentality or any other legal or commercial entity. See Oregon Statutes 67.005
  • person with a disability: means any person who:

    (a) Has a physical or mental impairment which substantially limits one or more major life activities;

    (b) Has a record of such an impairment; or

    (c) Is regarded as having such an impairment. See Oregon Statutes 174.107

  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial.
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • Principal office: means the physical street address of an office, in or out of this state, where the principal executive offices of a domestic or foreign corporation are located and designated in the annual report or in the application for authority to transact business in this state. See Oregon Statutes 60.001
  • Principal office: means the physical street address of an office, in or out of this state, where the principal executive offices of a domestic or foreign limited liability company are located and designated in the annual report or in the application for authority to transact business in this state. See Oregon Statutes 63.001
  • Principal office: means the physical street address of the place, in or out of this state, where the principal executive offices of a domestic corporation or foreign corporation are located and that is designated as the principal office in the most recent annual report filed in accordance with ORS § 65. See Oregon Statutes 65.001
  • Probate: Proving a will
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Proceeding: means a civil, criminal, administrative or investigatory action. See Oregon Statutes 60.001
  • Proceeding: means a civil, criminal, administrative or investigatory action. See Oregon Statutes 65.001
  • Professional service: means personal service or services rendered in this state to the public which may be lawfully rendered only pursuant to a license by a professional. See Oregon Statutes 58.015
  • Professional service: means the service rendered by a professional. See Oregon Statutes 67.005
  • Property: means real or personal property or any interest therein of any kind or nature that is subject to condemnation. See Oregon Statutes 35.215
  • Property: means any interest in anything of value, including the whole of any lot or tract of land and tangible and intangible personal property, including currency, instruments or securities or any other kind of privilege, interest, claim or right whether due or to become due. See Oregon Statutes 131A.005
  • Property: means all property, real, personal or mixed, tangible or intangible, or any interest therein. See Oregon Statutes 67.005
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Public benefit corporation: means a domestic corporation that:

    (a) Is formed as a public benefit corporation under ORS § 65. See Oregon Statutes 65.001

  • public body: means state government bodies, local government bodies and special government bodies. See Oregon Statutes 174.109
  • Public defender: Represent defendants who can't afford an attorney in criminal matters.
  • public notice: means any legal publication which requires an affidavit of publication as required in ORS § 193. See Oregon Statutes 174.104
  • Record date: means the date established under this chapter on which a corporation determines the identity of the corporation's shareholders and their shareholdings for purposes of this chapter. See Oregon Statutes 60.001
  • Record date: means the date established under ORS § 65. See Oregon Statutes 65.001
  • record of the case: means the trial court file and any transcript, narrative statement and exhibits. See Oregon Statutes 19.005
  • 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
  • Regulatory board: means the governmental agency of the State of Oregon required or authorized by law to license and regulate the rendering of a professional service or services for which a professional corporation is organized. See Oregon Statutes 58.015
  • Religious corporation: means a domestic corporation that is formed as a religious corporation under ORS § 65. See Oregon Statutes 65.001
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Remand: When an appellate court sends a case back to a lower court for further proceedings.
  • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Revenue: means all fees, tolls, excise taxes, assessments, property taxes and other taxes, rates, charges, rentals and other income or receipts derived by a state agency or to which a state agency is entitled. See Oregon Statutes 286A.001
  • Revenue: means all fees, tolls, excise taxes, assessments, property taxes and other taxes, rates, charges, rentals and other income or receipts derived by a public body or to which a public body is entitled. See Oregon Statutes 287A.001
  • Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
  • Seizing agency: means a law enforcement agency that has seized property for forfeiture. See Oregon Statutes 131A.005
  • Sentencing guidelines: A set of rules and principles established by the United States Sentencing Commission that trial judges use to determine the sentence for a convicted defendant. Source: U.S. Courts
  • Service of process: The service of writs or summonses to the appropriate party.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • 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
  • Shareholder: means a holder of shares of capital stock of a cooperative other than membership stock. See Oregon Statutes 62.015
  • Shell entity: means an entity that has the characteristics described in ORS § 60. See Oregon Statutes 60.001
  • Shell entity: means an entity that has the characteristics described in ORS § 63. See Oregon Statutes 63.001
  • Shell entity: means an entity that has the characteristics described in ORS § 65. See Oregon Statutes 65.001
  • Sign: means to indicate a present intent to authenticate or adopt a document by:

    (a) Affixing a symbol to the document;

    (b) Inscribing or affixing a manual, facsimile or conformed signature on the document; or

    (c) Attaching to, or logically associating with, an electronic transmission any electronic sound, symbol or process, including an electronic signature. See Oregon Statutes 65.001

  • Sole ownership: The type of property ownership in which one individual holds legal title to the property and has full control of it.
  • State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico or any territory or insular possession subject to the jurisdiction of the United States. See Oregon Statutes 67.005
  • state government: means the executive department, the judicial department and the legislative department. See Oregon Statutes 174.111
  • State land: means public land controlled by the Department of State Lands. See Oregon Statutes 273.006
  • State Treasury: includes those financial assets the lawful custody of which are vested in the State Treasurer and the office of the State Treasurer relating to the custody of those financial assets. See Oregon Statutes 174.100
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Summons: Another word for subpoena used by the criminal justice system.
  • Supersedeas undertaking: means an undertaking on appeal that secures performance of a judgment being appealed and operates to stay enforcement of the judgment pending appeal. See Oregon Statutes 19.005
  • Supplemental judgment: means a judgment that may be rendered after a general judgment pursuant to a legal authority. See Oregon Statutes 18.005
  • Support arrearage lien: means a lien that attaches to real property under the provisions of ORS § 18. See Oregon Statutes 18.005
  • Support award: means a money award or agency order that requires the payment of child or spousal support. See Oregon Statutes 18.005
  • Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
  • Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
  • Testate: To die leaving a will.
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Tract: means one or more contiguous lots or parcels under the same ownership. See Oregon Statutes 215.010
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • Transcript: means the transcript of the court reporter's report as provided in ORS § 8. See Oregon Statutes 19.005
  • Transfer: includes an assignment, conveyance, lease, mortgage, deed, encumbrance, creation of a security interest and any other disposition. See Oregon Statutes 67.005
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trial court file: means all the original papers filed in the trial court whether before or after judgment, including but not limited to the summons and proof of service thereof, pleadings, motions, affidavits, depositions, stipulations, orders, jury instructions, the judgment, the notice of appeal and the undertaking on appeal. See Oregon Statutes 19.005
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Uncompensated officer: means an individual who serves in an office without compensation other than payment solely for actual expenses the individual incurs in performing duties of the individual's office or payment for the average expenses the individual incurs over the course of a year. See Oregon Statutes 65.001
  • Undertaking on appeal: includes undertakings for costs and supersedeas undertakings. See Oregon Statutes 19.005
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • United States: means the federal government or a district, authority, bureau, commission, department or any other agency of the United States. See Oregon Statutes 60.001
  • United States: means the federal government or a district, authority, bureau, commission, department or any other agency of the United States. See Oregon Statutes 65.001
  • User fees: Fees charged to users of goods or services provided by the government. In levying or authorizing these fees, the legislature determines whether the revenue should go into the treasury or should be available to the agency providing the goods or services.
  • Venue: The geographical location in which a case is tried.
  • Verdict: The decision of a petit jury or a judge.
  • Violate: includes failure to comply. See Oregon Statutes 174.100
  • Vote: means an authorization by written ballot or written consent, where permitted, or by another method that a corporation specifies as an authorization. See Oregon Statutes 65.001
  • Voting group: means all shares of one or more classes or series that under the articles of incorporation or this chapter are entitled to vote and be counted together collectively on a matter at a meeting of shareholders. See Oregon Statutes 60.001
  • Voting power: means the total number of votes entitled to be cast on an issue at the time the determination of voting power is made, excluding a vote that is contingent upon a condition or event occurring that has not occurred at the time. See Oregon Statutes 65.001
  • Written: means embodied as a document. See Oregon Statutes 60.001
  • Written: means embodied as a document. See Oregon Statutes 65.001