Sections
Subchapter 1 Shares 601 – 604
Subchapter 2 Issuance of Shares 621 – 629
Subchapter 3 Subsequent Acquisition of Shares by Shareholders and Corporation 641 – 642
Subchapter 4 Distributions 651

Terms Used In Maine Revised Statutes > Title 13-C > Chapter 6 - Shares and Distributions

  • Adviser: means a person who, at the request of the issuer, a confirmer or another adviser, notifies or requests another adviser to notify the beneficiary that a letter of credit has been issued, confirmed or amended. See Maine Revised Statutes Title 11 Sec. 5-1102
  • 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.
  • another department: means a department of the State other than the Department of Health and Human Services. See Maine Revised Statutes Title 22 Sec. 21
  • another program: means a program of the department not defined as a program in subsection 10 or a program of another department that is approved for addition to the EBT system. See Maine Revised Statutes Title 22 Sec. 21
  • 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.
  • Applicant: means a person at whose request or for whose account a letter of credit is issued. See Maine Revised Statutes Title 11 Sec. 5-1102
  • Bailee: means a person that by a warehouse receipt, bill of lading or other document of title acknowledges possession of goods and contracts to deliver them. See Maine Revised Statutes Title 11 Sec. 7-1102
  • 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 a person who under the terms of a letter of credit is entitled to have its complying presentation honored. See Maine Revised Statutes Title 11 Sec. 5-1102
  • Carrier: means a person that issues a bill of lading. See Maine Revised Statutes Title 11 Sec. 7-1102
  • 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.
  • Debit card: means an encoded plastic card distributed by the department or another department or a contractor with that department for use in an automated teller machine or a point of sale device. See Maine Revised Statutes Title 22 Sec. 21
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Delivery order: means a record that contains an order to deliver goods directed to a warehouse, carrier or other person that in the ordinary course of business issues warehouse receipts or bills of lading. See Maine Revised Statutes Title 11 Sec. 7-1102
  • Dependent: A person dependent for support upon another.
  • Document: means a written draft or other demand, document of title, investment security, certificate, invoice or other record, statement or representation of fact, law, right or opinion that:  
    (i) Is presented in a written or other medium permitted by the letter of credit or, unless prohibited by the letter of credit, by the standard practice referred to in section 5-1108, subsection (5); and  
    (ii) Is capable of being examined for compliance with the terms and conditions of the letter of credit. See Maine Revised Statutes Title 11 Sec. 5-1102
  • EBT: means a system for the delivery of benefits to recipients by means of credit or debit card services, automated teller machines, point of sale devices or access to online systems for the withdrawal of funds or the processing of a payment for merchandise or a service. See Maine Revised Statutes Title 22 Sec. 21
  • EBT card: means a card issued by the department under an electronic benefits transfer system for the delivery of benefits to recipients. See Maine Revised Statutes Title 22 Sec. 21
  • 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.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Ex officio: Literally, by virtue of one's office.
  • 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.
  • Food stamps: means the food stamp program established pursuant to section 3104. See Maine Revised Statutes Title 22 Sec. 21
  • Good faith: means honesty in fact and the observance of reasonable commercial standards of fair dealing. See Maine Revised Statutes Title 11 Sec. 7-1102
  • Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Maine Revised Statutes Title 11 Sec. 7-1102
  • 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.
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • Issuer: means a bailee that issues a document of title or, in the case of an unaccepted delivery order, the person that orders the possessor of goods to deliver. See Maine Revised Statutes Title 11 Sec. 7-1102
  • Issuer: means a bank or other person that issues a letter of credit, but does not include an individual who makes an engagement for personal, family or household purposes. See Maine Revised Statutes Title 11 Sec. 5-1102
  • 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.
  • Legislative committee: means a joint standing committee of the Legislature, a joint select committee of the Legislature, a task force, commission or council or any other committee established by the Legislature and composed wholly or partly of Legislators for the purpose of conducting legislative business. See Maine Revised Statutes Title 5 Sec. 21
  • Letter of credit: means a definite undertaking that satisfies the requirements of section 5-1104 by an issuer to a beneficiary at the request or for the account of an applicant or, in the case of a financial institution, to itself or for its own account, to honor a documentary presentation by payment or delivery of an item of value. See Maine Revised Statutes Title 11 Sec. 5-1102
  • 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
  • Medicaid: means the Medicaid program under the provisions of the United States Social Security Act, Title XIX, and successors to it, and related rules of the department pursuant to Maine Revised Statutes Title 22 Sec. 21
  • Municipal officers: means the mayor and aldermen or councillors of a city, the selectmen or councillors of a town and the assessors of a plantation. See Maine Revised Statutes Title 1 Sec. 72
  • Nominated person: means a person whom the issuer:  
    (i) Designates or authorizes to pay, accept, negotiate or otherwise give value under a letter of credit; and  
    (ii) Undertakes by agreement or custom and practice to reimburse. See Maine Revised Statutes Title 11 Sec. 5-1102
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Parents as Scholars: means the program established in Maine Revised Statutes Title 22 Sec. 21
  • Point of sale device: means a machine that accepts a debit card distributed to recipients; electronically processes transactions at the vendor's place of business; and records and reports individual recipient benefit entitlement and distribution. See Maine Revised Statutes Title 22 Sec. 21
  • Presentation: means delivery of a document to an issuer or nominated person for honor or giving of value under a letter of credit. See Maine Revised Statutes Title 11 Sec. 5-1102
  • Presenter: means a person making a presentation as or on behalf of a beneficiary or nominated person. See Maine Revised Statutes Title 11 Sec. 5-1102
  • Program: means the food stamps or Medicaid program or another program. See Maine Revised Statutes Title 22 Sec. 21
  • Recipient: means a recipient of benefits under the food stamp or Medicaid programs or another program. See Maine Revised Statutes Title 22 Sec. 21
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Maine Revised Statutes Title 11 Sec. 5-1102
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Maine Revised Statutes Title 11 Sec. 7-1102
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • State employee: means any employee of an agency, independent agency or parts of agencies which receive support from the General Fund or that are established, created or incorporated by reference to the laws, except nonpartisan staff of the Legislature. See Maine Revised Statutes Title 5 Sec. 21
  • Statute: A law passed by a legislature.
  • Temporary Assistance for Needy Families: means the program established in Maine Revised Statutes Title 22 Sec. 21
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • Vendor: means an authorized retailer, wholesaler or health care provider that provides food, cash benefits or health care services to a recipient. See Maine Revised Statutes Title 22 Sec. 21
  • Warehouse: means a person engaged in the business of storing goods for hire. See Maine Revised Statutes Title 11 Sec. 7-1102