Terms Used In Oregon Statutes > Chapter 723 > Formation

• Any other state: includes any state and the District of Columbia. See Oregon Statutes 174.100
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Department: means the Department of Consumer and Business Services. See Oregon Statutes 723.001
• Director: means the Director of the Department of Consumer and Business Services. See Oregon Statutes 723.001
• Fraud: Intentional deception resulting in injury to another.
• 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
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• 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}
• Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
• Service of process: The service of writs or summonses to the appropriate party.