Terms Used In Maine Revised Statutes > Title 18-C > Article 7 > Part 2 - Common Trust Funds

• Agriculture: means the production, keeping or maintenance for sale or lease of plants or animals, including, but not limited to, forages and sod crops, grains and seed crops, dairy animals and dairy products, poultry and poultry products, livestock, fruits and vegetables and ornamental and greenhouse products. See Maine Revised Statutes Title 38 Sec. 436-A
• 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}
• Common trust fund: means a trust or fund maintained by a bank or trust company exclusively for the collective investment or reinvestment of money contributed to the trust or fund by the bank or trust company, or an affiliated bank or trust company, as a fiduciary, including a trustee of a trust or fund for the primary purpose of paying employee benefits of any kind. See Maine Revised Statutes Title 18-C Sec. 7-201
• Executor: A male person named in a will to carry out the decedent
• Fiduciary: A trustee, executor, or administrator.
• Fiduciary: includes a trustee, executor, administrator, guardian and custodian under a uniform transfers to minors act. See Maine Revised Statutes Title 18-C Sec. 7-201
• 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.
• 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.
• Month: means a calendar month. See Maine Revised Statutes Title 1 Sec. 72
• Probate: Proving a will
• River: means a free-flowing body of water including its associated flood plain wetlands from that point at which it provides drainage for a watershed of 25 square miles to its mouth. See Maine Revised Statutes Title 38 Sec. 436-A
• Stream: means a free-flowing body of water from the outlet of a great pond or the confluence of 2 perennial streams as depicted on the most recent, highest resolution version of the national hydrography dataset available from the United States Geological Survey on the website of the United States Geological Survey or the national map to the point where the stream becomes a river or where the stream meets the shoreland zone of another water body or wetland. See Maine Revised Statutes Title 38 Sec. 436-A
• Trustee: A person or institution holding and administering property in trust.
• Water source: means any river, stream or brook as defined in section 480?B, any lake or pond classified GPA pursuant to section 465?A or groundwater located anywhere in the State. See Maine Revised Statutes Title 38 Sec. 470-A