Terms Used In Oregon Statutes > Chapter 723 > Powers of Credit Unions

• Any other state: includes any state and the District of Columbia. See Oregon Statutes 174.100
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Assets: means property, a right or a claim with future objectively measurable value that is owned or effectively controlled by a credit union. See Oregon Statutes 723.001
• 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.
• Department: means the Department of Consumer and Business Services. See Oregon Statutes 723.001
• Director: means the Director of the Department of Consumer and Business Services. See Oregon Statutes 723.001
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) ^{Source: OCC}
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
• Personal property: All property that is not real property.
• Trustee: A person or institution holding and administering property in trust.