2011 Oregon Revised Statutes
ORS Volume 8, Chapters 305 - 325
ORS Chapter 310
310.651 Definitions for household asset limitation on eligibility.

For purposes of ORS 310.652:

(1) Evidence of debt means all bonds, notes, demands, claims, deposits or investments however evidenced and whether secured by mortgage, deed of trust, judgment or otherwise or not so secured, and includes but is not limited to:

(a) Personal and business notes receivable.

(b) Mortgage notes receivable.

(c) Commercial paper.

(d) Conditional sales contracts (written agreements whereby title to the property remains with the seller until the goods are paid for).

(e) Notes and other receivables, evidenced by written agreement, due from affiliated companies.

(f) Certificates of participation.

(g) Bonds and debentures of both domestic and foreign corporations.

(h) Bonds and evidence of debt of other states and their political subdivisions.

(i) Bonds, debentures and capital notes (not certificates of deposit) issued by banks and other organizations in direct competition with banks.

(j) Cashiers checks, treasurers checks, certified checks, purchase drafts and similar instruments drawn for the benefit or convenience of any party or parties other than banks.

(k) Investment contracts and accumulation plans issued by investment syndicates, investment brokers and other similar companies.

(L) Loans, advances, demands, claims and other receivables which are evidenced by written agreement.

(2) Funds on deposit means all funds accrued or accruing by virtue of the death of the insured or the original maturity of a policy contract where the party or parties entitled to receive such funds might withdraw same at their option upon stipulated notice.

(3) Money on deposit means money, whether actually within or without this state, having a business, commercial or taxable situs in this state, without deduction for any indebtedness or liabilities of the taxpayer, and includes but is not limited to:

(a) Amounts in checking and savings accounts.

(b) Certificates of deposit.

(c) Payroll and escrow accounts.

(d) Deposits as of any one or more of the four quarterly valuation dates.

(e) Deposits of trustees, executors, administrators and other fiduciaries.

(f) Social Security and withholding tax accounts.

(g) Accommodation loan accounts.

(h) Deposits of savings and loan or building and loan associations.

(i) Deposits of insurance companies.

(4) Money on hand includes but is not limited to:

(a) Currency and bills of exchange.

(b) Money in cash registers.

(c) Petty cash.

(d) Deposits in transit.

(e) Money in safe deposit boxes.

(5) Shares of stock includes but is not limited to:

(a) Capital stock, common stock and preferred stock of both domestic and foreign corporations.

(b) Shares of stock held in brokerage accounts, including shares purchased on margin.

(c) Unregistered stock, restricted stock, letter stock and stocks owned in closed corporations.

(d) Shares in mutual funds and investment trusts.

(e) Shares of stock in banks (including national banks).

(f) Shares of stock in holding companies, including financial holding companies, bank holding companies and insurance holding companies.

(g) Stocks held by trustees or guardians which should be reported under the names of the beneficiary.

(h) Stocks held by executors or administrators of estates which should be reported in the name of the estate.

(i) Stocks owned by minor children which should be reported under the minor s name, in care of the parent or guardian.

(j) Stocks owned by investment clubs which should be reported in the name of the investment club.

(k) Stocks acquired by purchase, gift, inheritance or any other means, even if the stock certificates have not been received and are not in the taxpayer s possession as of the asset determination date.

(L) Shares of stock owned by or registered to residents of this state even though the stock certificates may be physically located in another state. [1989 c.797 4; 2001 c.377 55; 2005 c.443 29]