Oregon Statutes 772.505 – Definitions for ORS 772.505 to 772.520
Current as of: 2023 | Check for updates
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As used in ORS § 772.505 to 772.520, unless the context otherwise requires:
Terms Used In Oregon Statutes 772.505
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(1) ‘Pipeline’ includes pipes, lines, natural gas mains or lines and their appurtenances, including but not limited to pumps and pumping stations, used in transporting or distributing fluids, including petroleum and petroleum products or natural gases.
(2) ‘Pipeline company’ includes any corporation, partnership or limited partnership, transporting, selling or distributing fluids, including petroleum products, or natural gases and those organized for constructing, laying, maintaining or operating pipelines, which are engaged, or which propose to engage in, the transportation of such fluids or natural gases. [Amended by 1971 c.655 § 242a; 1989 c.821 § 1]