Terms Used In Oregon Statutes > Chapter 314 - Taxes Imposed Upon or Measured by Net Income

• Account debtor: means a person obligated on an account, chattel paper or general intangible. See Oregon Statutes 79.0102
• Act or Title: includes any subtitle, division or other part of an Act or Title. See Oregon Statutes 314.011
• 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.
• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• Agricultural lien: means an interest, other than a security interest or a lien created under ORS § 87. See Oregon Statutes 79.0102
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• 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.
• Articles of incorporation: means the articles described in ORS § 60. See Oregon Statutes 60.001
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Balanced budget: A budget in which receipts equal outlays.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Bequest: Property gifted by will.
• Capital offense: A crime punishable by death.
• Chattel paper: means a record or records that evidence both a monetary obligation and a security interest in specific goods, a security interest in specific goods and software used in the goods, a security interest in specific goods and license of software used in the goods, a lease of specific goods, or a lease of specific goods and license of software used in the goods. See Oregon Statutes 79.0102
• Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
• Collateral: means the property subject to a security interest or agricultural lien. See Oregon Statutes 79.0102
• 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.
• Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law.
• Consignment: means a transaction, regardless of its form, in which a person delivers goods to a merchant for the purpose of sale and:

  (A) The merchant:

  (i) Deals in goods of that kind under a name other than the name of the person making delivery;

  (ii) Is not an auctioneer; and

  (iii) Is not generally known by its creditors to be substantially engaged in selling the goods of others;

  (B) With respect to each delivery, the aggregate value of the goods is $1,000 or more at the time of delivery;

  (C) The goods are not consumer goods immediately before delivery; and

  (D) The transaction does not create a security interest that secures an obligation. See Oregon Statutes 79.0102

• Consumer goods: means goods that are used or bought for use primarily for personal, family or household purposes. See Oregon Statutes 79.0102
• Consumer transaction: means a transaction in which:

  (i) An individual incurs an obligation primarily for personal, family or household purposes;

  (ii) A security interest secures the obligation; and

  (iii) The collateral is held or acquired primarily for personal, family or household purposes. See Oregon Statutes 79.0102

• Continuance: Putting off of a hearing ot trial until a later time.
• Continuation statement: means an amendment of a financing statement which:

  (A) Identifies, by its file number, the initial financing statement to which it relates; and

  (B) Indicates that it is a continuation statement for, or that it is filed to continue the effectiveness of, the identified financing statement. See Oregon Statutes 79.0102

• Conviction: A judgement of guilt against a criminal defendant.
• County: means the county in which the district, or the greater portion of the taxable assessed value of the district, is located. See Oregon Statutes 478.001
• Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. ^{Source: OCC}
• Decedent: A deceased person.
• 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 State Department of Agriculture. See Oregon Statutes 634.006
• Devise: To gift property by will.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• 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
• District: means a rural fire protection district proposed to be organized or organized under, or subject to, this chapter. See Oregon Statutes 478.001
• district board: means the governing body of a district. See Oregon Statutes 478.001
• 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
• Donee: The recipient of a gift.
• 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}
• Electronic signature: has the meaning given that term in ORS § 84. See Oregon Statutes 60.001
• Electronic transmission: means a form or process of communication that does not directly involve physically transferring paper or another tangible medium and that enables a recipient to retain, retrieve and reproduce information by means of an automated process that is used in conventional commercial practice, except as provided in ORS § 60. See Oregon Statutes 60.001
• Enrolled bill: The final copy of a bill or joint resolution which has passed both chambers in identical form. It is printed on parchment paper, signed by appropriate officials, and submitted to the President/Governor for signature.
• 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
• 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}
• 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
• 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.
• File number: means the number assigned to an initial financing statement pursuant to ORS § 79. See Oregon Statutes 79.0102
• Filing office: means an office designated in ORS § 79. See Oregon Statutes 79.0102
• Financing statement: means a record or records composed of an initial financing statement and any filed record relating to the initial financing statement. See Oregon Statutes 79.0102
• Fixture filing: means the filing of a financing statement covering goods that are or are to become fixtures and satisfying ORS § 79. See Oregon Statutes 79.0102
• Forbearance: A means of handling a delinquent loan. A
• Foreign corporation: means a corporation for profit that is incorporated under laws other than the laws of the state. See Oregon Statutes 60.001
• Fraud: Intentional deception resulting in injury to another.
• Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. ^{Source: OCC}
• General intangible: means any personal property, including things in action, other than accounts, chattel paper, commercial tort claims, deposit accounts, documents, goods, instruments, investment property, letter-of-credit rights, letters of credit, money and oil, gas or other minerals before extraction. See Oregon Statutes 79.0102
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Goods: means all things that are movable when a security interest attaches. See Oregon Statutes 79.0102
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• 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.
• Health-care-insurance receivable: means an interest in or claim under a policy of insurance which is a right to payment of a monetary obligation for health-care goods or services provided. See Oregon Statutes 79.0102
• Individual: means a natural person or the estate of an incompetent individual or a deceased individual. See Oregon Statutes 60.001
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Instrument: means a negotiable instrument or any other writing that evidences a right to the payment of a monetary obligation, is not itself a security agreement or lease, and is of a type that in ordinary course of business is transferred by delivery with any necessary indorsement or assignment. See Oregon Statutes 79.0102
• Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
• 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}
• Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• Joint resolution: A legislative measure which requires the approval of both chambers.
• 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.
• Legatee: A beneficiary of a decedent
• Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
• Letter-of-credit right: means a right to payment or performance under a letter of credit, whether or not the beneficiary has demanded or is at the time entitled to demand payment or performance. See Oregon Statutes 79.0102
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• 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
• Mortgage: means a consensual interest in real property, including fixtures, which secures payment or performance of an obligation. See Oregon Statutes 79.0102
• 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}
• New debtor: means a person that becomes bound as debtor under ORS § 79. See Oregon Statutes 79.0102
• Nonresident: means any person other than a resident. See Oregon Statutes 497.002
• Oath: A promise to tell the truth.
• Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions.
• Oversight: Committee review of the activities of a Federal agency or program.
• Payment intangible: means a general intangible under which the account debtor's principal obligation is a monetary obligation. See Oregon Statutes 79.0102
• Person: means an individual or entity. See Oregon Statutes 60.001
• 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.
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Promissory note: means an instrument that evidences a promise to pay a monetary obligation, does not evidence an order to pay, and does not contain an acknowledgment by a bank that the bank has received for deposit a sum of money or funds. See Oregon Statutes 79.0102
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• public body: means state government bodies, local government bodies and special government bodies. See Oregon Statutes 174.109
• public notice: means any legal publication which requires an affidavit of publication as required in ORS § 193. See Oregon Statutes 174.104
• Public-finance transaction: means a secured transaction in connection with which:

  (A) Debt securities are issued;

  (B) All or a portion of the securities issued have an initial stated maturity of at least 20 years; and

  (C) The debtor, obligor, secured party, account debtor or other person obligated on collateral, assignor or assignee of a secured obligation, or assignor or assignee of a security interest is a state or a governmental unit of a state. See Oregon Statutes 79.0102

• Quorum: The number of legislators that must be present to do business.
• Remand: When an appellate court sends a case back to a lower court for further proceedings.
• Resident: means a person who has physically resided in this state for not less than six consecutive months immediately prior to the date of making application for a license, tag or permit issued by the State Fish and Wildlife Commission. See Oregon Statutes 497.002
• Security agreement: means an agreement that creates or provides for a security interest. See Oregon Statutes 79.0102
• 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.
• Share: means a unit into which the proprietary interest in a corporation is divided. See Oregon Statutes 60.001
• 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 60.001

• Signature: means any embodiment of a person's intent to sign a document. See Oregon Statutes 60.001
• State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands or any territory or insular possession subject to the jurisdiction of the United States. See Oregon Statutes 79.0102
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Subpoena: A command to a witness to appear and give testimony.
• Summons: Another word for subpoena used by the criminal justice system.
• Termination statement: means an amendment of a financing statement which:

  (A) Identifies, by its file number, the initial financing statement to which it relates; and

  (B) Indicates either that it is a termination statement or that the identified financing statement is no longer effective. See Oregon Statutes 79.0102

• 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.
• 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.
• Transmitting utility: means an organization primarily engaged in the business of:

  (A) Operating a railroad, subway, street railway or trolley bus;

  (B) Transmitting communications electrically, electromagnetically or by light;

  (C) Transmitting goods by pipeline or sewer; or

  (D) Transmitting or producing and transmitting electricity, steam, gas or water. See Oregon Statutes 79.0102

• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• 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
• Venue: The geographical location in which a case is tried.
• Violate: includes failure to comply. See Oregon Statutes 174.100
• 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
• Weed: means any plant that grows where not wanted. See Oregon Statutes 634.006
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.
• Written: means embodied as a document. See Oregon Statutes 60.001