Search for “Windows 2000 EULA” (without the quotes)
There’s nothing about 2000 that will prevent you from installing it on more than one machine (there is no product activation like XP) … but it looks like you are not licensed to install it on two machines at the same time (even if you are only using one at any one time).
GRANT OF LICENSE. This EULA grants you the following
Software Installation and Use. You may only install,
use, access, display and run one (1) copy of the SOFTWARE
PRODUCT on the COMPUTER.
Storage/Network Use. The SOFTWARE PRODUCT may not be
installed, accessed, displayed, run, shared or used
concurrently on or from different computers, including a
workstation, terminal or other digital electronic device
(“Devices”) . Notwithstanding the foregoing and except as
otherwise provided below, any number of Devices, may access
or otherwise utilize the file and print services and
internet information services of the SOFTWARE PRODUCT, if
If the SOFTWARE PRODUCT is Windows 2000, you may use
the SOFTWARE PRODUCT on a single COMPUTER as interactive
workstation software, but not as server software. However,
you may permit a maximum of ten (10) Devices to connect to
the COMPUTER to access and use services of the SOFTWARE
PRODUCT, such as file and print services and internet
information services. The ten-connection maximum includes
any indirect connections made through other software or
hardware which pools or aggregates connections.
(the rest cut for brevity)