I think the word we're looking for is "brandishing." If someone brandishes a weapon, the law's being broken and the cops and the TD and the PDGA (in that sequence) need to be involved.
Not in Oregon, as far as what I've read and seen others who live there talk about. They have no brandishing law. Every weapons law pertains to pointing, or communicating a threat while holding the weapon. Apparently you can pull your firearm without any issues as long as you don't point it at anyone or threaten anyone verbally with it.