2011 ORS § 62.462¹
Definitions for ORS 62.462 to 62.482

As used in ORS 62.462 (Definitions for ORS 62.462 to 62.482) to 62.482 (Application of ORS 62.462 to 62.482):

(1) Cooperative includes any domestic or foreign predecessor entity of a cooperative in a merger or other transaction in which the predecessors existence ceased upon consummation of the transaction.

(2) Director means an individual who is or was a director of a cooperative or an individual who, while a director of a cooperative, is or was serving at the cooperatives request as a director, officer, partner, trustee, employee or agent of another foreign or domestic cooperative, corporation, partnership, joint venture, trust, employee benefit plan or other enterprise. A director is considered to be serving an employee benefit plan at the cooperatives request if the directors duties to the cooperative also impose duties on or otherwise involve services by the director to the plan or to participants in or beneficiaries of the plan. Director includes, unless the context requires otherwise, the estate or personal representative of a director.

(3) Expenses includes counsel fees.

(4) Liability means the obligation to pay a judgment, settlement, penalty or fine, including an excise tax assessed with respect to an employee benefit plan or reasonable expenses incurred with respect to a proceeding.

(5) Officer means an individual who is or was an officer of a cooperative or an individual who, while an officer of a cooperative, is or was serving at the cooperatives request as a director, officer, partner, trustee, employee or agent of another foreign or domestic cooperative, corporation, partnership, joint venture, trust, employee benefit plan or other enterprise. An officer is considered to be serving an employee benefit plan at the cooperatives request if the officers duties to the cooperative also impose duties on or include services by the officer to the employee benefit plan or to participants in or beneficiaries of the plan. Officer includes, unless the context requires otherwise, the estate or personal representative of an officer.

(6) Party includes an individual who was, is or is threatened to be made a named defendant or respondent in a proceeding.

(7) Proceeding means any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative and whether formal or informal. [1995 c.195 §15]