(1) "Obligation" means:
(a) A bond;
(b) An agreement for exchange of interest rates with the State of Oregon; or
(c) A credit enhancement device given as additional security for a bond.
(2) "Pledge" means:
(a) To create a security interest in or a lien on property to secure payment or performance of an obligation, by mortgaging, assigning or encumbering property or by creating a security interest in property by any other manner.
(b) A security interest in or lien on property created under paragraph (a) of this subsection.
(3) "Pledgee" means:
(a) A trustee for the holder of an obligation; or
(b) The holder of an obligation if a trustee was not appointed in the operative document or if the operative document authorizes the holder of an obligation to foreclose the lien of a pledge and enforce the remedies consequent to the pledge in lieu of the trustee.
(4) "Property" means:
(a) Real or personal property, tangible or intangible, whether owned when the pledge is made or acquired subsequently to the time the pledge is made; and
(b) Revenues, contract rights, receivables or securities. [2007 c.783 §17; 2009 c.537 §8]