(1) "Actuarially sound" means funding and insurance sufficient to pay those losses and their related costs which are known or are projected by the Oregon Department of Administrative Services from analyses of claims, loss experience and risk factors.

(2) "Components" of the Insurance Fund means accounts created by the department within the Insurance Fund to provide specific coverages and administer the duties of this chapter.

(3) "Data" means information previously converted to language or symbols in a form which can be directly read by the information processing equipment.

(4) "Department" means the Oregon Department of Administrative Services.

(5) "Engineering specifications" means those records which provide detailed documentation of the construction, wiring, arrangement and related engineering details of the information processing equipment.

(6) "Media" means all active information processing material including all forms of data, program material and related engineering specifications employed in the agency’s information processing operation except property which the agency elects not to cover.

(7) "Participating local public body" and "public body" mean any public body other than the state which has elected to participate in the Insurance Fund under ORS 30.282.

(8) "Personal property" means tangible personal property owned, leased, controlled or possessed by a state agency and includes all chattels and movables, such as merchandise, furniture, goods, livestock, vehicles, aircraft, movable machinery, movable tools, movable equipment, general operating supplies and media. "Personal property" does not include cash, currency or negotiable papers and securities and similar property which may be excluded by policy of the department.

(9) "Program material" means stored data used to direct the information processing equipment as to which input or memory to use, how to use it, and the type of results to obtain, including any diagrams or other records which can be used to reproduce such instructions.

(10) "Property" means real and personal property as defined in this section, and any other property under the control of the state in which the state has an insurable interest as determined by the department.

(11) "Real property" means the land and all buildings, structures, improvements, machinery, equipment or fixtures erected on, above or under the land the title of which is vested in the State of Oregon, or is under the control of the state through a lease purchase agreement, installment purchase, mortgage or lien. "Real property" does not include any paving, roadways, tunnels, bridges, bike paths, sidewalks and other related improvements which may be excluded by policy of the department.

(12) "State agency" or "agency" means each state branch, institution, department, board, commission or activity of whatever nature.

(13) "Vessel" means a boat, ship, craft or structure made to float or travel upon the water which may or may not be powered by a marine engine. [1961 c.448 §2; 1975 c.609 §21; 1977 c.428 §2; 1981 c.109 §6; 1985 c.731 §7; 1989 c.40 §1; 1993 c.500 §25]