Terms Used In Oregon Statutes > Chapter 748 > General Provisions

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Benefit contract: means the agreement for provision of benefits authorized by ORS § 748. See Oregon Statutes 748.103
• Benefit member: means an adult member who is designated by the laws or rules of the society to be a benefit member under a benefit contract. See Oregon Statutes 748.103
• Certificate: means the document issued as written evidence of the benefit contract. See Oregon Statutes 748.103
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• 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.
• 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.
• Lodge: means subordinate member units of the society, known as camps, courts, councils, branches or by any other designation. See Oregon Statutes 748.103
• Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
• Premiums: means premiums, rates, dues or other required contributions by whatever name known, which are payable under the certificate. See Oregon Statutes 748.103
• Rules: means all rules, regulations or resolutions adopted by the supreme governing body or board of directors which are intended to have general application to the members of the society. See Oregon Statutes 748.103
• Society: means fraternal benefit society, unless otherwise indicated. See Oregon Statutes 748.103