Terms Used In Oregon Statutes > Chapter 65 > General Provisions > Definitions

• Anniversary: means February 28 if an event occurs that would otherwise cause an anniversary to fall on February 29. See Oregon Statutes 65.001
• 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: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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
• 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
• 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
• 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.
• Corporation: means a domestic corporation or a foreign corporation. See Oregon Statutes 65.001
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Delegate: means a person who is elected or appointed to vote in a representative assembly for electing a director or directors or on other matters. See Oregon Statutes 65.001
• Designated director: means a director that the articles of incorporation or the bylaws designate as a director in a manner that identifies a specific individual or a group of individuals. See Oregon Statutes 65.001
• 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

• Domestic corporation: means a nonprofit corporation that is not a foreign corporation and that is incorporated under or subject to the provisions of this chapter. See Oregon Statutes 65.001
• 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
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• 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 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
• 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.
• Individual: means a natural person, including the guardian of an incompetent individual. See Oregon Statutes 65.001
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• 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
• Membership: means the rights and obligations a member has under this chapter. See Oregon Statutes 65.001
• 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
• 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
• 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.
• Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
• Person: means an individual or an entity. See Oregon Statutes 65.001
• 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
• Public benefit corporation: means a domestic corporation that:

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

• Quorum: The number of legislators that must be present to do business.
• Religious corporation: means a domestic corporation that is formed as a religious corporation under ORS § 65. See Oregon Statutes 65.001
• Statute: A law passed by a legislature.
• 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
• 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 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 65.001