Terms Used In Oregon Statutes > Chapter 72 > Title, Creditors and Good Faith Purchasers

• 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.
• Any other state: includes any state and the District of Columbia. See Oregon Statutes 174.100
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Buyer: means a person who buys or contracts to buy goods. See Oregon Statutes 72.1030
• Certificate: means the document issued as written evidence of the benefit contract. See Oregon Statutes 748.103
• Contract for sale: includes both a present sale of goods and a contract to sell goods at a future time. See Oregon Statutes 72.1060
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Fraud: Intentional deception resulting in injury to another.
• Impaired: means either:

  (a) For a society that does not write variable contracts, whenever its assets are less than its total liabilities; or

  (b) For a society that does write variable contracts, whenever its assets are less than its total liabilities, plus the required surplus for a mutual life insurer to write such contracts. See Oregon Statutes 748.103

• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Laws: means the society's articles of incorporation, constitution and bylaws, however designated. See Oregon Statutes 748.103
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Livestock: means equines, cattle, sheep, goats, llamas, alpacas and swine. See Oregon Statutes 72.1030
• Lodge: means subordinate member units of the society, known as camps, courts, councils, branches or by any other designation. See Oregon Statutes 748.103
• Oath: A promise to tell the truth.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Seller: means a person who sells or contracts to sell goods. See Oregon Statutes 72.1030
• Society: means fraternal benefit society, unless otherwise indicated. See Oregon Statutes 748.103
• Statute: A law passed by a legislature.
• 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}