Oregon Statutes - Chapter 112 - Intestate Succession and Wills - Section 112.570 - Definitions for ORS 112.570 to 112.590.

As used in ORS 112.570 to 112.590:

(1) “Co-owners with right of survivorship” means joint tenants, tenants by the entirety and any other co-owners of property or accounts that are held in a manner that entitles one or more of the owners to ownership of the whole of the property or account upon the death of one or more of the other owners.

(2) “Governing instrument” means:

(a) A deed;

(b) A will;

(c) A trust;

(d) An insurance or annuity policy account with a payable-on-death designation;

(e) A pension, profit-sharing, retirement or similar benefit plan;

(f) An instrument creating or exercising a power of appointment or a power of attorney; or

(g) Any other dispositive, appointive or nominative instrument of a type similar to those instruments specified in this subsection.

(3) “Payor” means a trustee, insurer, employer, governmental agency, political subdivision or any other person authorized or obligated by law or by a governing instrument to make payments. [1999 c.131 §1]

Note: 112.570 to 112.590 were enacted into law by the Legislative Assembly but were not added to or made a part of ORS chapter 112 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.

Section:  Previous  112.495  112.505  112.515  112.525  112.535  112.545  112.555  112.570  112.572  112.575  112.578  112.580  112.582  112.585  112.586  Next

Last modified: August 7, 2008