OAR 603-043-0020: Definitions

(1) “Reporting Period” is set by each commission by administrative rule and means the period of time no longer than one year for which a first purchaser files the assessment report and remits the assessment to the commission. Example: monthly, quarterly, annually, etc. (2) “Reporting Year” is set by each commission by administrative rule and means 12 consecutive months. Example: August 1 through July 31. (3) “Assessment Period” is set by each commission by administrative rule and means the current reporting year, or the current reporting year plus the previous one or two reporting years. It is the period producers use to challenge an assessment levied under ORS 576.325(3)(a). (4) “Limit Period” is set by each commission by administrative rule and means the most recent complete one, two, or three reporting years used by the commission in determining the industry average unit price. (5) “Arm’s-length transaction” is one in which each party is acting independently in such party’s own economic self-interest. The purest example of an arm’s length transaction is a purchase and sale between strangers in an open market or at public auction. Transactions between a cooperative and its member and transactions among affiliates would not be considered at arm’s length.