648-010-0010 Definitions The following definitions apply to the rules in this Division 10, unless the context requires otherwise: (1) “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. (2) “Assessment” means a percentage of the Dollar Value levied by the Commission on Hemp. (3) "Assessment Period" means the current Reporting Year. (4) “Assessment Report” is the form approved by the Commission on which a Producer or a Vertically Integrated Producer will report to the Commission the amount, type, and Dollar Value of the hemp grown or produced in Oregon and Sold Commercially or Transferred Internally. (5) “Dollar Value” means, if Sold Commercially, the actual price, share, or other form of compensation received in exchange for Hemp, including but not necessarily limited to, remuneration in the form of inputs, goods, services, and any other consideration, or, if Transferred Internally, the Monetary Valuation of the Hemp, reported in United States dollars. (6) "Casual Sale" means a sale made by a Producer directly to a consumer of raw, unprocessed Hemp of less than $500, calculated based on a single fiscal year. (7) "Commission" means the Oregon Hemp Commission. (8) “Good cause” means that an action, delay, or failure to act arises from an excusable mistake, surprise, or excusable neglect based upon reasonable reliance on the statement of a party or agency related to procedural requirements, or from fraud, misrepresentation, or other misconduct of the Commission. (9) “Handler” has the meaning given to that term in ORS 571.269(8). (10) “Hemp” means "Industrial Hemp" and these terms are used interchangeably. (11) "Industrial Hemp" has the meaning given to that term in OAR 603-048-0010(24). (12) "Monetary Valuation" means the amount that would be paid in cash for Hemp if it were to be sold to a third party in an Arm's-length Transaction. (13) "Producer" has the meaning given to the term “grower” in ORS 571.269(7). (14) "Reporting Year" means the 12-month period beginning July 1 and ending June 30 each year, except that for 2022, the Reporting Year shall begin on January 1, 2023. (15) “Sold Commercially” means Hemp that is transferred in commercial channels because it has moved from the Producer to the Handler with both parties agreeing that a method of compensation will be provided to the Producer. (16) “Transferred Internally” means Hemp that is transferred in commercial channels because it has moved from the Producer to the Handler when the transferring and receiving party is part of the same Vertically Integrated Producer. (17) "Vertically Integrated Producer" means a Producer who is also a Handler. Statutory/Other Authority: ORS 571.269, ORS 571.406 (3), ORS 571.423 & ORS 571.447 Statutes/Other Implemented: ORS 571.269, ORS 571.406 (3), ORS 571.423 & ORS 571.447 - 571.501 History: HEMP 4-2022, adopt filed 08/15/2022, effective 08/15/2022