Maine Revised Statutes > Title 10 > Part 3 > Chapter 212-C – Regulation of Exchange Facilitators
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Terms Used In Maine Revised Statutes > Title 10 > Part 3 > Chapter 212-C - Regulation of Exchange Facilitators
- Administrator: means the Superintendent of Consumer Credit Protection within the Department of Professional and Financial Regulation. See Maine Revised Statutes Title 10 Sec. 1395
- Affiliated: means a person, directly or indirectly through one or more intermediaries, who controls, is controlled by or is under common control of, another person. See Maine Revised Statutes Title 10 Sec. 1395
- Client: means the taxpayer with whom the exchange facilitator enters into an agreement described in subsection 4, paragraph A. See Maine Revised Statutes Title 10 Sec. 1395
- Commissioner: means the Commissioner of Education or the commissioner's designee. See Maine Revised Statutes Title 20-A Sec. 1
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Department: means the Department of Education. See Maine Revised Statutes Title 20-A Sec. 1
- Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
- Exchange facilitator: means a person that does any of the following:
A. See Maine Revised Statutes Title 10 Sec. 1395Fee: means compensation of any nature, direct or indirect, monetary or in-kind, that is received by a person or related person as defined in the United States Internal Revenue Code, Section 267(b) or 707(b) for any services relating to or incidental to the exchange of like-kind property. See Maine Revised Statutes Title 10 Sec. 1395 Financial institution: means a bank, credit union, savings and loan association, savings bank or trust company or other similar depository or nondepository financial institution including an institution whose accounts are insured by the full faith and credit of the United States, the Federal Deposit Insurance Corporation, the National Credit Union Share Insurance Fund or other similar or successor programs as well as an affiliate or subsidiary of such institution. See Maine Revised Statutes Title 10 Sec. 1395 Person: means an individual, corporation, partnership, limited liability company, joint venture, association, joint stock company, trust or any other form of legal entity, including agents and employees of a person. See Maine Revised Statutes Title 10 Sec. 1395 Prudent investor standard: means the prudent investor standard referenced in Title 18?B, Part 1, section 901, subsection 1. See Maine Revised Statutes Title 10 Sec. 1395 School administrative unit: means the state-approved unit of school administration and includes a municipal school unit, school administrative district, community school district, regional school unit or any other municipal or quasi-municipal corporation responsible for operating or constructing public schools, except that it does not include a career and technical education region. See Maine Revised Statutes Title 20-A Sec. 1 School board: means the governing body with statutory powers and duties for a school administrative unit. See Maine Revised Statutes Title 20-A Sec. 1 Secondary school: means that portion of a school that provides instruction in any combination of grades 9 through 12. See Maine Revised Statutes Title 20-A Sec. 1 Servicing: means :
A. See Maine Revised Statutes Title 9-A Sec. 14-103Student education loan: means a loan that is extended to a student loan borrower expressly for postsecondary education expenses or other school-related expenses and does not include open-ended credit or any loan that is secured by real property. See Maine Revised Statutes Title 9-A Sec. 14-103 Student loan borrower: means :
A. See Maine Revised Statutes Title 9-A Sec. 14-103Student loan servicer: means a person, wherever located, responsible for the servicing of a student education loan to a student loan borrower. See Maine Revised Statutes Title 9-A Sec. 14-103 Superintendent: means the Superintendent of Consumer Credit Protection within the Department of Professional and Financial Regulation. See Maine Revised Statutes Title 9-A Sec. 14-103