Terms Used In Maine Revised Statutes > Title 18-B > Part 1 > Chapter 7 - Office of Trustee

• Adult: means a person who has attained the age of 18 years. See Maine Revised Statutes Title 1 Sec. 72
• 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.
• 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.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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}
• Capital grant: means a grant award from the fund pursuant to section 6208 to cover eligible costs for a capital grant as specified in subsection 5, paragraph C. See Maine Revised Statutes Title 30-A Sec. 6201
• Commissioner: means the Commissioner of Economic and Community Development. See Maine Revised Statutes Title 30-A Sec. 6201
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Cooperative services grant: means a grant award from the fund pursuant to section 6208 to cover eligible costs for a cooperative services grant as specified in subsection 5, paragraph B. See Maine Revised Statutes Title 30-A Sec. 6201
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the Department of Economic and Community Development. See Maine Revised Statutes Title 30-A Sec. 6201
• Eligible applicant: means a municipality, county or regional government subdivision. See Maine Revised Statutes Title 30-A Sec. 6201
• Eligible costs: means the actual and direct expenses incurred in implementing a cooperative services grant, a capital grant or a planning grant awarded under section 6208, including expenses incurred in connection with the following activities for cooperative services grants, capital grants and planning grants. See Maine Revised Statutes Title 30-A Sec. 6201
• Fiduciary: A trustee, executor, or administrator.
• 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.
• Fund: means the Fund for the Efficient Delivery of Local and Regional Services established by section 6202. See Maine Revised Statutes Title 30-A Sec. 6201
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• 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
• 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
• Municipality: means a city or town, except as provided in chapter 225. See Maine Revised Statutes Title 30-A Sec. 2001
• Personal property: All property that is not real property.
• Planning grant: means a grant award from the fund pursuant to section 6208 to cover eligible costs of developing a qualifying project for a cooperative services grant. See Maine Revised Statutes Title 30-A Sec. 6201
• Qualifying project: means a project designed to achieve significant and sustainable savings in the cost of delivering local and regional governmental services that reduces the demand for property tax revenues through collaborative approaches to service delivery, enhanced regional delivery systems, consolidated administrative services, broad-based purchasing alliances and interlocal agreements. See Maine Revised Statutes Title 30-A Sec. 6201
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Regional government subdivision: means :