Maine Revised Statutes > Title 13-C > Chapter 18 > Subchapter 1 – General Provisions
Current as of: 2023 | Check for updates
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Other versions
| § 1801 | Application and effect of chapter |
| § 1802 | Definitions |
| § 1803 | Incorporation of benefit corporation |
| § 1804 | Election of benefit corporation status |
| § 1805 | Termination of benefit corporation status |
Terms Used In Maine Revised Statutes > Title 13-C > Chapter 18 > Subchapter 1 - General Provisions
- Adult: means a person who has attained the age of 18 years. See Maine Revised Statutes Title 1 Sec. 72
- 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.
- 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.
- Assistance unit: means the individuals whose need the department considers when determining whether an applicant or recipient is eligible for program benefits. See Maine Revised Statutes Title 22 Sec. 3811
- 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
- Benefit corporation: means a corporation:
A. See Maine Revised Statutes Title 13-C Sec. 1802Benefit director: means the director designated as the benefit director of a benefit corporation under section 1822. See Maine Revised Statutes Title 13-C Sec. 1802 Benefit enforcement proceeding: means a claim or action or proceeding for:
A. See Maine Revised Statutes Title 13-C Sec. 1802Benefit officer: means the individual designated as the benefit officer of a benefit corporation under section 1824. See Maine Revised Statutes Title 13-C Sec. 1802 Commissioner: means the Commissioner of Health and Human Services. See Maine Revised Statutes Title 22 Sec. 1-A 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. 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. General public benefit: means a material positive impact on society and the environment, taken as a whole, assessed against a 3rd-party standard, from the business and operations of a benefit corporation. See Maine Revised Statutes Title 13-C Sec. 1802 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 Independent: means having no material relationship with a benefit corporation or a subsidiary of the benefit corporation, except that serving as benefit director or benefit officer does not make an individual not independent. See Maine Revised Statutes Title 13-C Sec. 1802 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: 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 Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Minimum status vote: means :
A. See Maine Revised Statutes Title 13-C Sec. 1802Municipality: 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 National Association of Insurance Commissioners: means the National Association of Insurance Commissioners or its successor organization of insurance regulators. See Maine Revised Statutes Title 24-A Sec. 15 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. Obligor: means an individual who receives an overpayment or an adult individual who is a member of an assistance unit that receives an overpayment. See Maine Revised Statutes Title 22 Sec. 3811 Overpayment: means program benefits that exceed the amount of program benefits for which an individual or assistance unit is eligible when the department or a court has determined that the benefits were provided as a result of an intentional program violation, an unintentional error by the individual or household or an error by the department. See Maine Revised Statutes Title 22 Sec. 3811 premiums: as used in this chapter means premiums, rates or other required contributions by whatever name known. See Maine Revised Statutes Title 24-A Sec. 4120 Program benefits: means money payments or food coupons issued by the department pursuant to an application for benefits made by an individual to Aid to Families with Dependent Children established in former chapter 1053, the Supplemental Nutrition Assistance Program established in chapter 851 or the Temporary Assistance for Needy Families program established in chapter 1053?B, or money payments or vouchers issued by a municipal general assistance program established pursuant to chapter 1161, or payments for medical services issued by the department pursuant to the MaineCare program established pursuant to chapter 855. See Maine Revised Statutes Title 22 Sec. 3811 Specific public benefit: means any particular benefit to society or the environment, including without limitation:
A. See Maine Revised Statutes Title 13-C Sec. 1802Statute: A law passed by a legislature. Subsidiary: means , in relation to a person, an entity in which the person owns beneficially or of record 50% or more of the outstanding equity interests, calculated as if all outstanding rights to acquire equity interests in the entity had been exercised. See Maine Revised Statutes Title 13-C Sec. 1802 Third-party standard: means a recognized standard for defining, reporting and assessing corporate social and environmental performance that:
A. See Maine Revised Statutes Title 13-C Sec. 1802United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72 Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72