Or. Admin. R. 698-025-0020 - Definitions
(1) "Agricultural cooperative" means a
cooperative corporation formed in accordance with the Oregon Cooperative
Corporation Act for the benefit of agricultural landowners or
operators.
(2) "Succession
planning" means an ongoing process for ensuring the continuation and economic
viability of a business over generations of owners or operators. It may include
strategies to identify, develop, and empower the next generation of owners or
operators, a plan to transfer business and family assets, and arrangements for
each generation's retirement and long-term care. Succession plans are fluid and
may be reviewed and updated throughout the existence of the business.
Notes
Statutory/Other Authority: ORS 541.984, ORS 541.988, ORS 541.989
Statutes/Other Implemented: ORS 541.977-541.989
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