Terms Used In Oregon Statutes > Chapter 65 > Incorporation

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• 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.
• Amortization: Paying off a loan by regular installments.
• Any other state: includes any state and the District of Columbia. See Oregon Statutes 174.100
• Articles of incorporation: means the articles of incorporation 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.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• 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
• Charter guide: means an individual who:

  (a) Carries passengers for hire for outdoor recreational activities on the waters of the Pacific Ocean over which the State of Oregon has jurisdiction;

  (b) Carries passengers for hire for outdoor recreational activities on the waters of the Columbia River below the Astoria-Megler Bridge downstream to the waters of the Pacific Ocean; and

  (c) Possesses a valid United States Coast Guard operator license. See Oregon Statutes 704.010

• 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
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• 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

• Distribution: means a payment to a person from the income or assets of a corporation, other than a payment of reasonable value to a person for property received or services performed or a payment that furthers the corporation's purposes. See Oregon Statutes 65.001
• Employee: means an individual that a corporation employs, including an officer or director whom the corporation employs with compensation for services beyond the services of board membership. See Oregon Statutes 65.001
• Employee: means an individual who, in exchange for compensation or monetary gain, provides outfitting and guiding services under the direction, supervision and control of an outfitter and guide or a charter guide. See Oregon Statutes 704.010
• 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}
• Fraud: Intentional deception resulting in injury to another.
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• Individual: means a natural person, including the guardian of an incompetent individual. See Oregon Statutes 65.001
• 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}
• 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
• Notice: means a notice described in ORS § 65. See Oregon Statutes 65.001
• Outfitter and guide: means any person:

  (A) Who, for compensation or monetary gain, provides, offers to provide or advertises the provision of:

  (i) Outfitting and guiding services in this state; or

  (ii) Outfitting and guiding services and either equipment, supplies, livestock or materials for use in this state; or

  (B) Who holds one or more federal special use permits for commercial outfitting and guiding services for use in any forest or wilderness or on any waterway in this state. See Oregon Statutes 704.010

• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• 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
• Proceeding: means a civil, criminal, administrative or investigatory action. 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
• Service of process: The service of writs or summonses to the appropriate party.
• 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 65.001

• Uncompensated officer: means an individual who serves in an office without compensation other than payment solely for actual expenses the individual incurs in performing duties of the individual's office or payment for the average expenses the individual incurs over the course of a year. See Oregon Statutes 65.001
• Violate: includes failure to comply. See Oregon Statutes 174.100
• Written: means embodied as a document. See Oregon Statutes 65.001