Maine Revised Statutes > Title 10 > Part 2 > Chapter 110 > Subchapter 2 – Mortgage Insurance Programs
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Terms Used In Maine Revised Statutes > Title 10 > Part 2 > Chapter 110 > Subchapter 2 - Mortgage Insurance Programs
- Accumulated contributions: means the sum of all the amounts credited to a member's individual account, together with regular interest on the account. See Maine Revised Statutes Title 3 Sec. 701
- Actuarial equivalent: means an amount of equal value when computed at the discount rate contained in actuarial assumptions adopted by the board of trustees. See Maine Revised Statutes Title 3 Sec. 701
- Agricultural enterprise: means knowledge, skill or labor applied to growing or raising plants or animals, harvesting plants or growing or obtaining plant or animal by-products, includes forestry and aquaculture and includes production, processing, storing, packaging or marketing products derived from agricultural enterprise. See Maine Revised Statutes Title 10 Sec. 963-A
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Amortization: Paying off a loan by regular installments.
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Authority: means the Finance Authority of Maine as established by this chapter. See Maine Revised Statutes Title 10 Sec. 963-A
- Average final compensation: means the average annual rate of earnable compensation of a member during the 3 years of creditable service, not necessarily consecutive, in which the average annual rate of earnable compensation is highest or during the member's entire period of creditable service if the period is less than 3 years. See Maine Revised Statutes Title 3 Sec. 701
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Beneficiary: means any person who receives or is designated to receive a benefit provided by this chapter. See Maine Revised Statutes Title 3 Sec. 701
- Board of trustees: means the board provided for in section 731. See Maine Revised Statutes Title 3 Sec. 701
- Bond: means revenue obligation security. See Maine Revised Statutes Title 10 Sec. 963-A
- Characterizing flavor: means a distinguishable taste or aroma of candy, chocolate, vanilla, fruit, berry, nut, herb, spice, honey or an alcoholic drink that is imparted to tobacco or tobacco smoke either prior to or during consumption. See Maine Revised Statutes Title 22 Sec. 1560-D
- Child or children: means a person who has not attained the age of 18 years. See Maine Revised Statutes Title 1 Sec. 72
- Cigarette paper: means those papers or paper-like products used to roll cigarettes, which by advertising, design or use facilitate the use of tobacco or other products for inhalation. See Maine Revised Statutes Title 22 Sec. 1551
- Code: means the United States Internal Revenue Code of 1986, as amended. See Maine Revised Statutes Title 3 Sec. 701
- Commissioner: means the Commissioner of Health and Human Services. See Maine Revised Statutes Title 22 Sec. 1-A
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Component part: includes but is not limited to the tobacco, filter and paper in a cigar. See Maine Revised Statutes Title 22 Sec. 1560-D
- Constituent: includes a smoke constituent. See Maine Revised Statutes Title 22 Sec. 1560-D
- Consumer: means an individual who purchases, receives or possesses tobacco products for personal consumption and not for resale. See Maine Revised Statutes Title 22 Sec. 1551
- Contract: A legal written agreement that becomes binding when signed.
- Conviction: A judgement of guilt against a criminal defendant.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Creditable service: means service rendered while a member of the former Maine Legislative Retirement System, the Legislative Retirement Program, the former Maine State Retirement System or the State and Teacher Retirement Program for which credit is allowed under section 802. See Maine Revised Statutes Title 3 Sec. 701
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Delivery sale: means a sale of tobacco products to a consumer in this State when:
A. See Maine Revised Statutes Title 22 Sec. 1551Delivery service: means a person, including the United States Postal Service, who is engaged in the commercial delivery of letters, packages or other containers. See Maine Revised Statutes Title 22 Sec. 1551 Department: means the Department of Health and Human Services. See Maine Revised Statutes Title 22 Sec. 1-A Dependent: A person dependent for support upon another. distributor: means a person licensed as a distributor under Title 36, chapter 704. See Maine Revised Statutes Title 22 Sec. 1551 Earnable compensation: means the actual compensation of a Legislator. See Maine Revised Statutes Title 3 Sec. 701 Eligible collateral: means accounts, as-extracted collateral, chattel paper, commercial tort claims, consumer goods, deposit accounts, documents, equipment, farm products, fixtures, general intangibles, instruments, investment property, inventory, letter of credit rights, manufactured homes, money, real estate, supporting obligations and accessions to any of the foregoing and any other business assets. See Maine Revised Statutes Title 10 Sec. 963-A Eligible enterprise: means an agricultural enterprise, fishing enterprise, industrial enterprise, manufacturing enterprise or recreational enterprise. See Maine Revised Statutes Title 10 Sec. 963-A Eligible project: includes any project, the financing of which through the issuance of revenue obligation securities would result in the interest on the revenue obligation securities qualifying, as of the date of issuance, as tax-exempt under 26 United States Code § 103, as amended. See Maine Revised Statutes Title 10 Sec. 963-A Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other. Executive session: A portion of the Senate's daily session in which it considers executive business. executive session: is a session at which only members of the investigating committee, staff of the committee, counsel to the committee, the witness and counsel may be present. See Maine Revised Statutes Title 3 Sec. 402 Executor: A male person named in a will to carry out the decedent facility: means any aboveground oil storage tank or tanks, together with associated piping, and transfer and dispensing facilities located over land or water of the State at a single location for more than 4 months per year and used or intended to be used for the storage or supply of oil. See Maine Revised Statutes Title 10 Sec. 963-A Fiduciary: A trustee, executor, or administrator. financial assistance: means guarantees, leases, insurance, financing credits, loans or the purchase or discounts thereof, letters of credit, financing assistance payments, grants or other financial aid. See Maine Revised Statutes Title 10 Sec. 963-A Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006. Fishing enterprise: means knowledge, skill or labor applied to growing or catching fish, including shellfish, in fresh or salt water, including aquaculture, and includes production, processing, storing, packaging or marketing products derived from fishing enterprises. See Maine Revised Statutes Title 10 Sec. 963-A Flavored cigar: means a cigar or any component part of the cigar that contains a constituent that imparts a characterizing flavor. See Maine Revised Statutes Title 22 Sec. 1560-D Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC Fraud: Intentional deception resulting in injury to another. Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs. in writing: include printing and other modes of making legible words. See Maine Revised Statutes Title 1 Sec. 72 Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC Industrial enterprise: means knowledge, skill or labor applied to conduct of a trade or business, selling of goods, providing services, providing dwelling accommodations, mining, education or discovery, research, development or refinement of new or known substances, processes or products. See Maine Revised Statutes Title 10 Sec. 963-A Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury. Insured: means any individual, partnership, corporation, association or other entity which is the beneficiary of a loan insurance agreement with the authority. See Maine Revised Statutes Title 10 Sec. 963-A Insured certificate: means a certificate evidencing fractional undivided ownership interest in a pool of mortgage loans, each of which is insured by the authority pursuant to this chapter, that is insured by the authority pursuant to and subject to the limitations of section 1026?E. See Maine Revised Statutes Title 10 Sec. 963-A Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC Interest rate swap agreement: means a financial agreement as defined by the Finance Authority of Maine by rule in accordance with the Maine Administrative Procedure Act, Title 5, chapter 375. See Maine Revised Statutes Title 10 Sec. 963-A interested party: is a ny person who learns that that person has been specifically identified in testimony taken before an investigating committee and who reasonably believes that that person has been adversely affected by such testimony. See Maine Revised Statutes Title 3 Sec. 402 investigating committee: is a ny committee of the Legislature which has been granted by the Legislature the power to administer oaths, issue subpoenas and take depositions, as authorized by section 165, subsection 7. See Maine Revised Statutes Title 3 Sec. 402 investigating committee action: is a ny decision arrived at formally by an investigating committee. See Maine Revised Statutes Title 3 Sec. 402 Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases. Lease: means a contract providing for the use of a project or portions of a project for a term of years for a designated or determinable rent. See Maine Revised Statutes Title 10 Sec. 963-A Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC Legal age: means the age of 18 and over. See Maine Revised Statutes Title 1 Sec. 72 Legislator: means a member of the Legislature who is actively serving as of December 3, 1986, or who is elected subsequent to December 2, 1986. See Maine Revised Statutes Title 3 Sec. 701 Lessee: means a tenant under a lease and may include an installment purchaser. See Maine Revised Statutes Title 10 Sec. 963-A Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Lien: A claim against real or personal property in satisfaction of a debt. Loan: means an extension of credit made in consideration of a written promise of repayment or any other conditions that may be established by the authority, performance of which may be secured by mortgage. See Maine Revised Statutes Title 10 Sec. 963-A Loan payments: means payments required by or received on account of a mortgage or any other financial document, including, but not limited to, payments covering interest, installments of principal, taxes, assessments, loan insurance premiums and hazard insurance premiums. See Maine Revised Statutes Title 10 Sec. 963-A Manufacturing enterprise: means knowledge, skill or labor applied to giving of new shapes, new qualities or new combinations to matter as material products and includes assembling, fabricating, making, creating, working, preparing, milling, processing, recycling, manufacturing, finishing, fashioning, producing, storing, warehousing, preserving, distributing, handling or transporting in any manner goods, wares, merchandise, metals, fabrics, materials, substances, product or matter of any kind or nature including materials recovered from solid and hazardous wastes. See Maine Revised Statutes Title 10 Sec. 963-A Member: means a Legislator who is included in the membership of the Legislative Retirement Program, as provided in section 801. See Maine Revised Statutes Title 3 Sec. 701 Month: means a calendar month. See Maine Revised Statutes Title 1 Sec. 72 Mortgage: means an agreement granting a lien upon or a security interest in eligible collateral upon certain conditions and includes, but is not limited to, a mortgage of real estate, an assignment of rents, a pledge or a security agreement. See Maine Revised Statutes Title 10 Sec. 963-A Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC Mortgagor: means the grantor or party giving rights to eligible collateral pursuant to a mortgage and includes the successors or assigns of a mortgagor. See Maine Revised Statutes Title 10 Sec. 963-A Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money. Municipal officers: means the mayor and municipal officers or councilors of a city, the members of the select board or councilors of a town and the assessors of a plantation. See Maine Revised Statutes Title 1 Sec. 72 Municipality: means any municipality as defined in Title 30?A, section 2001, subsection 8. See Maine Revised Statutes Title 10 Sec. 963-A Municipality: includes cities, towns and plantations, except that "municipality" does not include plantations in Title 10, chapter 110, subchapter IV; or Title 30?A, Part 2. See Maine Revised Statutes Title 1 Sec. 72 Natural resource enterprise: means an agricultural enterprise or a fishing enterprise, but does not include selling of food at wholesale or retail, except when that selling is carried out as part of the natural resource enterprise. See Maine Revised Statutes Title 10 Sec. 963-A Nicotine water: means water that is sold in the State, that is intended for human consumption and that contains as an added ingredient nicotine or an alkaloid having similar physiological activity. See Maine Revised Statutes Title 22 Sec. 1560 Note: means an evidence of indebtedness and includes a revenue obligation security. See Maine Revised Statutes Title 10 Sec. 963-A Oath: includes an affirmation, when affirmation is allowed. See Maine Revised Statutes Title 1 Sec. 72 Oath: A promise to tell the truth. Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. Overboard discharge: means the same as set forth in Title 38, section 466, subsection 9?A. See Maine Revised Statutes Title 10 Sec. 963-A Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses. Person: means an individual, corporation, partnership or unincorporated association. See Maine Revised Statutes Title 22 Sec. 1551 Premium cigar: means a cigar that weighs more than 3 pounds per 1,000 cigars and is wrapped in whole tobacco leaf. See Maine Revised Statutes Title 22 Sec. 1560-D Premium cigar: means a cigar that weighs more than 3 pounds per 1,000 and is wrapped in whole tobacco leaf. See Maine Revised Statutes Title 22 Sec. 1551 Professional: when used with reference to office space, means professions or professionals regulated or licensed under applicable state law. See Maine Revised Statutes Title 10 Sec. 963-A Project: means any eligible project. See Maine Revised Statutes Title 10 Sec. 963-A Quorum: The number of legislators that must be present to do business. Real estate: includes lands and all tenements and hereditaments connected therewith, and all rights thereto and interests therein. See Maine Revised Statutes Title 1 Sec. 72 Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land. Recreational enterprise: means knowledge, skill or labor applied to providing facilities or opportunities for recreation, culture, entertainment or tourism. See Maine Revised Statutes Title 10 Sec. 963-A Regular interest: means interest at the rate which the Board of Trustees of the Maine Public Employees Retirement System sets from time to time, in accordance with Title 5, section 17156. See Maine Revised Statutes Title 3 Sec. 701 Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant. Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action. retailer: means a person located within or outside the State who sells tobacco products to a person in the State for personal consumption. See Maine Revised Statutes Title 22 Sec. 1551 Retirement: means the termination of membership service with a retirement allowance granted under this chapter. See Maine Revised Statutes Title 3 Sec. 701 Retirement system: means the Maine Public Employees Retirement System, established pursuant to Title 5, chapter 421. See Maine Revised Statutes Title 10 Sec. 963-A security: means a note, bond, interim certificate, debenture or other evidence of indebtedness, including any recovery zone facility bond or qualified energy conservation bond, payment of which is secured by a pledge of revenues, as provided in section 1045?A or 1065, or by assignment or pledge of other eligible collateral. See Maine Revised Statutes Title 10 Sec. 963-A Subpoena: A command to a witness to appear and give testimony. Summons: Another word for subpoena used by the criminal justice system. Swap counterparty: means a person who is a party to an interest rate swap agreement. See Maine Revised Statutes Title 10 Sec. 963-A tank: means any aboveground container, less than 10% of the capacity of which is beneath the surface of the ground, that is used or intended to be used for the storage or supply of oil. See Maine Revised Statutes Title 10 Sec. 963-A Targeted technologies: means biotechnology, aquaculture and marine technology, composite materials technology, environmental technology, advanced technologies for forestry and agriculture, information technology and precision manufacturing technology. See Maine Revised Statutes Title 10 Sec. 963-A Testify: Answer questions in court. Testimony: Evidence presented orally by witnesses during trials or before grand juries. Testimony: is a ny form of evidence received by an investigating committee. See Maine Revised Statutes Title 3 Sec. 402 Tobacco product: means any product that is made from or derived from tobacco, or that contains nicotine, that is intended for human consumption or is likely to be consumed, whether smoked, heated, chewed, absorbed, dissolved, inhaled or ingested by any other means, including, but not limited to, a cigarette, a cigar, a hookah, pipe tobacco, chewing tobacco, snuff or snus. See Maine Revised Statutes Title 22 Sec. 1551 Town: includes cities and plantations, unless otherwise expressed or implied. See Maine Revised Statutes Title 1 Sec. 72 Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition. Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence. Trustee: A person or institution holding and administering property in trust. Underground oil storage facility: means any tank, together with associated piping and dispensing facilities, 10% or more of which is located beneath the surface of the ground and not on or above a floor in such a manner that it may be readily inspected, located at a single location and used, formerly used or intended to be used for the marketing and distribution of oil, petroleum products or their by-products to persons or entities other than the owner of the facility. See Maine Revised Statutes Title 10 Sec. 963-A United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72 Value-added: means that an enhancement to a product or service that increases the value or marketability of the product or service has been applied. See Maine Revised Statutes Title 10 Sec. 963-A Vending machine: means any automated, self-service device that upon insertion of money, tokens or any other form of payment, dispenses cigarettes or any other tobacco product. See Maine Revised Statutes Title 22 Sec. 1551 Waste oil: includes mixtures of waste oil and water. See Maine Revised Statutes Title 10 Sec. 963-A witness: is a ny person who testifies before an investigating committee or who gives a deposition. See Maine Revised Statutes Title 3 Sec. 402 Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72