Terms Used In Oregon Statutes > Chapter 310 > Tax Limitations > Calculation of 1997 Measure 50 Permanent and Supplemental Statutory Rate Limits on Operating Taxes and 1997-1998 Tax Reductions

• Account: means any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft or like account, other than an account evidenced by a certificate of deposit. See Oregon Statutes 74.1040
• Afternoon: means the period of a day between noon and midnight. See Oregon Statutes 74.1040
• Arrest: Taking physical custody of a person by lawful authority.
• Bailee: means a person that by a warehouse receipt, bill of lading or other document of title acknowledges possession of goods and contracts to deliver them. See Oregon Statutes 77.1020
• Banking day: has the meaning given that term in ORS § 708A. See Oregon Statutes 74.1040
• Carrier: means a person that issues a bill of lading. See Oregon Statutes 77.1020
• City: includes any incorporated village or town. See Oregon Statutes 174.100
• Clearing house: means an association of banks or other payors regularly clearing items. See Oregon Statutes 74.1040
• 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.
• Customer: means a person having an account with a bank or for whom a bank has agreed to collect items, including a bank that maintains an account at another bank. See Oregon Statutes 74.1040
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Delivery order: means a record that contains an order to deliver goods directed to a warehouse, carrier or other person that in the ordinary course of business issues warehouse receipts or bills of lading. See Oregon Statutes 77.1020
• Documentary draft: means a draft to be presented for acceptance or payment if specified documents, certificated securities defined in ORS § 78. See Oregon Statutes 74.1040
• Draft: means a draft as defined in ORS § 73. See Oregon Statutes 74.1040
• Drawee: means a person ordered in a draft to make payment. See Oregon Statutes 74.1040
• 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.
• Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Oregon Statutes 77.1020
• Issuer: means a bailee that issues a document of title or, in the case of an unaccepted delivery order, the person that orders the possessor of goods to deliver. See Oregon Statutes 77.1020
• Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Oregon Statutes 74.1040
• Joint resolution: A legislative measure which requires the approval of both chambers.
• Lien: A claim against real or personal property in satisfaction of a debt.
• 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
• 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.
• Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Oregon Statutes 77.1020
• 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.
• 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.
• Statute: A law passed by a legislature.
• 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: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100
• Warehouse: means a person engaged in the business of storing goods for hire. See Oregon Statutes 77.1020