Sections
Part 1 Short Title and General Matters 8-1101 – 8-1116
Part 2 Issue and Issuer 8-1201 – 8-1210
Part 3 Transfer of Certificated and Uncertificated Securities 8-1301 – 8-1307
Part 4 Registration 8-1401 – 8-1407
Part 5 Security Entitlements 8-1501 – 8-1511

Terms Used In Maine Revised Statutes > Title 11 > Article 8-A - Investment Securities

  • Adult: means a person who has attained the age of 18 years. See Maine Revised Statutes Title 1 Sec. 72
  • Adverse claim: means a claim that a claimant has a property interest in a financial asset and that it is a violation of the rights of the claimant for another person to hold, transfer or deal with the financial asset. See Maine Revised Statutes Title 11 Sec. 8-1102
  • Allegation: something that someone says happened.
  • ambulatory surgical facility: means a facility with a primary purpose of providing elective surgical care to a patient who is admitted to and discharged from the facility within the same day. See Maine Revised Statutes Title 22 Sec. 1812-E
  • 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.
  • 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.
  • 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
  • Broker: means a person defined as a broker or dealer under the federal securities laws, but without excluding a bank acting in that capacity. See Maine Revised Statutes Title 11 Sec. 8-1102
  • Budget committee: means the Penobscot County Budget Committee. See Maine Revised Statutes Title 30-A Sec. 900-K
  • Caucus: From the Algonquian Indian language, a caucus meant "to meet together." An informal organization of members of the legislature that exists to discuss issues of mutual concern and possibly to perform legislative research and policy planning for its members. There are regional, political or ideological, ethnic, and economic-based caucuses.
  • Certificated security: means a security that is represented by a certificate. See Maine Revised Statutes Title 11 Sec. 8-1102
  • Clearing corporation: means :
    (i) A person that is registered as a "clearing agency" under the federal securities laws;
    (ii) A federal reserve bank; or
    (iii) Any other person that provides clearance or settlement services with respect to financial assets that would require it to register as a clearing agency under the federal securities laws but for an exclusion or exemption from the registration requirement, if its activities as a clearing corporation, including adoption of rules, are subject to regulation by a federal or state governmental authority. See Maine Revised Statutes Title 11 Sec. 8-1102
  • Commissioner: means the Commissioner of Inland Fisheries and Wildlife. See Maine Revised Statutes Title 12 Sec. 10001
  • Communicate: means to:
    (i) Send a signed writing; or
    (ii) Transmit information by any mechanism agreed upon by the persons transmitting and receiving the information. See Maine Revised Statutes Title 11 Sec. 8-1102
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Comprehensive family life education: means education in kindergarten to grade 12 regarding human development and sexuality, including education on family planning and sexually transmitted diseases, that is medically accurate and age appropriate; that respects community values and encourages parental communication; that develops skills in communication, decision making and conflict resolution; that contributes to healthy relationships; that promotes responsible sexual behavior with an emphasis on abstinence; that addresses the use of contraception; that promotes individual responsibility and involvement regarding sexuality; and that teaches skills for responsible decision making regarding sexuality. See Maine Revised Statutes Title 22 Sec. 1902
  • Contraceptive procedures: means any medically accepted procedure to prevent pregnancy when performed by or under the direction of a health care practitioner on a requesting and consenting patient. See Maine Revised Statutes Title 22 Sec. 1902
  • Contraceptive supplies: means those medically approved drugs, prescriptions, rhythm charts, devices and other items designed to prevent pregnancy through chemical, mechanical, behavioral or other means. See Maine Revised Statutes Title 22 Sec. 1902
  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • County legislative delegation: means all state legislators whose legislative districts, in whole or in part, lie within the boundaries of a county. See Maine Revised Statutes Title 30-A Sec. 1
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Decedent: A deceased person.
  • Department: means the Department of Inland Fisheries and Wildlife. See Maine Revised Statutes Title 12 Sec. 10001
  • Director: means the Director of the Office of Policy Innovation and the Future established by section 3102. See Maine Revised Statutes Title 5 Sec. 3101
  • Disallowed expenditure: means an amount paid to any person for those acts or services rendered, which result in:
A. See Maine Revised Statutes Title 22 Sec. 1862
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Entitlement holder: means a person identified in the records of a securities intermediary as the person having a security entitlement against the securities intermediary. See Maine Revised Statutes Title 11 Sec. 8-1102
  • Entitlement order: means a notification communicated to a securities intermediary directing transfer or redemption of a financial asset to which the entitlement holder has a security entitlement. See Maine Revised Statutes Title 11 Sec. 8-1102
  • 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
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Family planning: means informed and voluntary self-determination of desired family size and of the timing of child bearing based upon comprehensive knowledge of factors pertinent to this determination. See Maine Revised Statutes Title 22 Sec. 1902
  • Family planning services: means medically safe and effective sexual and reproductive health care and education that enable persons to freely plan their children, avoid unintended pregnancy and maintain reproductive and sexual health through the provision of contraceptive supplies, contraceptive procedures and related counseling; the prevention and treatment of infertility; appropriate prenatal and obstetric care; the prevention or treatment of sexually transmitted infections; and other services necessary for reproductive and sexual health. See Maine Revised Statutes Title 22 Sec. 1902
  • Fiduciary: A trustee, executor, or administrator.
  • Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
  • Financial asset: except as otherwise provided in section 8?1103, means:
    (i) A security;
    (ii) An obligation of a person or a share, participation or other interest in a person or in property or an enterprise of a person that is, or is of a type, dealt in or traded on financial markets or that is recognized in any area in which it is issued or dealt in as a medium for investment; or
    (iii) Any property that is held by a securities intermediary for another person in a securities account if the securities intermediary has expressly agreed with the other person that the property is to be treated as a financial asset under this Article. See Maine Revised Statutes Title 11 Sec. 8-1102
  • Fraud: Intentional deception resulting in injury to another.
  • 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
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • 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.
  • Guide: means a person who receives any form of remuneration for that person's services in accompanying or assisting a person in the fields or forests or on the waters or ice within the jurisdiction of the State while hunting, fishing, trapping, boating, snowmobiling, using an all-terrain vehicle or camping at a primitive camping area. See Maine Revised Statutes Title 12 Sec. 10001
  • Health care institution: means any person, partnership, association or corporation, including county or local government unit, required to obtain a license pursuant to chapter 405. See Maine Revised Statutes Title 22 Sec. 1862
  • Health care practitioner: means an individual who is licensed, certified or otherwise authorized under the laws of the State to provide health care services. See Maine Revised Statutes Title 22 Sec. 1902
  • health insurance: means insurance of human beings against bodily injury, disablement or death by accident or accidental means, or the expense thereof, or against disablement or expense resulting from sickness, and every insurance appertaining thereto, including provision for the mental and emotional welfare of human beings by defraying the costs of legal services only to the extent provided for in chapter 38. See Maine Revised Statutes Title 24-A Sec. 704
  • Indorsement: means a signature that alone or accompanied by other words is made on a security certificate in registered form or on a separate document for the purpose of assigning, transferring or redeeming the security or granting a power to assign, transfer or redeem it. See Maine Revised Statutes Title 11 Sec. 8-1102
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Instruction: means a notification communicated to the issuer of an uncertificated security that directs that the transfer of the security be registered or that the security be redeemed. See Maine Revised Statutes Title 11 Sec. 8-1102
  • 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
  • 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.
  • Majority: when used in reference to age shall mean the age of 18 and over. See Maine Revised Statutes Title 1 Sec. 72
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • 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
  • Municipal official: means any elected member of a municipal government in Penobscot County. See Maine Revised Statutes Title 30-A Sec. 900-K
  • 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.
  • Office: means the Office of Policy Innovation and the Future established by section 3102. See Maine Revised Statutes Title 5 Sec. 3101
  • Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) Source: OCC
  • 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 any person, partnership, association or corporation engaged or employed by a health care institution. See Maine Revised Statutes Title 22 Sec. 1862
  • Person: means any person regardless of sex, race, sexual orientation, gender identity, number of children, marital status, motive and citizenship. See Maine Revised Statutes Title 22 Sec. 1902
  • Person: means a human being or an organization. See Maine Revised Statutes Title 12 Sec. 10001
  • Personal property: All property that is not real property.
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Probate: Proving a will
  • Proportional share: means the revenue received from the State during the previous 12 months, divided by the sum of revenue received from the State, 3rd party payors and patients during the corresponding 12 months. See Maine Revised Statutes Title 22 Sec. 1862
  • Securities intermediary: means :
    (i) A clearing corporation; or
    (ii) A person, including a bank or broker, that in the ordinary course of its business maintains securities accounts for others and is acting in that capacity. See Maine Revised Statutes Title 11 Sec. 8-1102
  • Security: except as otherwise provided in section 8?1103, means an obligation of an issuer or a share, participation or other interest in an issuer or in property or an enterprise of an issuer:
    (i) That is represented by a security certificate in bearer or registered form or the transfer of which may be registered upon books maintained for that purpose by or on behalf of the issuer;
    (ii) That is one of a class or series or by its terms is divisible into a class or series of shares, participations, interests or obligations; and
    (iii) That:
    (A) Is, or is of a type, dealt in or traded on securities exchanges or securities markets; or
    (B) Is a medium for investment and by its terms expressly provides that it is a security governed by this Article. See Maine Revised Statutes Title 11 Sec. 8-1102
  • Security certificate: means a certificate representing a security. See Maine Revised Statutes Title 11 Sec. 8-1102
  • Security entitlement: means the rights and property interest of an entitlement holder with respect to a financial asset specified in Part 5. See Maine Revised Statutes Title 11 Sec. 8-1102
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Trustee: A person or institution holding and administering property in trust.
  • Uncertificated security: means a security that is not represented by a certificate. See Maine Revised Statutes Title 11 Sec. 8-1102
  • Under age: means under the age of 18. See Maine Revised Statutes Title 1 Sec. 72
  • Wildlife: includes wild animals and wild birds. See Maine Revised Statutes Title 12 Sec. 10001