Terms Used In Oregon Statutes > Chapter 711 - Merger; Conversion; Share Exchange; Acquisition; Liquidation; Insolvency

• 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.
• Appraisal: A determination of property value.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• 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}
• Bequest: Property gifted by will.
• Contract: A legal written agreement that becomes binding when signed.
• County clerk: means the county clerk or the county official in charge of elections. See Oregon Statutes 247.002
• County clerk: means the county clerk or the county official in charge of elections. See Oregon Statutes 248.002
• Elector: means an individual qualified to vote under Article II, section 2, Oregon Constitution. See Oregon Statutes 247.002
• Elector: means an individual qualified to vote under section 2, Article II, Oregon Constitution. See Oregon Statutes 248.002
• 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
• 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.
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Fiduciary: A trustee, executor, or administrator.
• 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.
• Institution: means the institutions designated in ORS § 179. See Oregon Statutes 179.010
• Intestate: Dying without leaving a will.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Member: means an individual who is registered as being affiliated with the political party. See Oregon Statutes 248.002
• Notice: means a notice described in ORS § 65. See Oregon Statutes 65.001
• Oversight: Committee review of the activities of a Federal agency or program.
• Person: means an individual or an entity. See Oregon Statutes 65.001
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• 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
• Recess: A temporary interruption of the legislative business.
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Registration card: means a state voter registration card approved by the Secretary of State under ORS § 247. See Oregon Statutes 247.002
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Testator: A male person who leaves a will at death.
• 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.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Written: means embodied as a document. See Oregon Statutes 65.001