Terms Used In Maine Revised Statutes > Title 20-A > Part 2 > Chapter 105 > Subchapter 3 - Financing

• Agreement: means any writing which is substantially prepared in advance of a consumer loan or consumer lease and which a supervised lender or lessor furnishes to a consumer for the consumer to sign in connection with that loan or lease. See Maine Revised Statutes Title 10 Sec. 1122
• 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.
• Amount financed: means "amount financed" as defined by Title 9?A, section 1?301, subsection 5. See Maine Revised Statutes Title 10 Sec. 1122
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Commissioner: means the Commissioner of Education or the commissioner's designee. See Maine Revised Statutes Title 20-A Sec. 1
• Community school district: means a state-approved unit of school administration composed of more than one municipality or school administrative district which may provide public education for any combination of kindergarten through grade 12. See Maine Revised Statutes Title 20-A Sec. 1
• Consumer: means an individual to whom a consumer loan or consumer lease is made. See Maine Revised Statutes Title 10 Sec. 1122
• Consumer lease: means a lease of goods to a consumer by a lessor for personal, family or household purposes, which is for a term exceeding 4 months and which is not made pursuant to a lender credit card. See Maine Revised Statutes Title 10 Sec. 1122
• Consumer loan: means a loan made to a consumer by a supervised lender for personal, family or household purposes, if the debt is payable in installments or a finance charge is made, including a loan made pursuant to a lender credit card. See Maine Revised Statutes Title 10 Sec. 1122
• 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 Education. See Maine Revised Statutes Title 20-A Sec. 1
• Director: means the Director of Alcoholic Beverages and Lottery Operations. See Maine Revised Statutes Title 8 Sec. 371
• District board of trustees: means a body with statutory powers and duties for a community school district. See Maine Revised Statutes Title 20-A Sec. 1
• District school committee: means the governing body with statutory powers and duties for a community school district. See Maine Revised Statutes Title 20-A Sec. 1
• Donor: The person who makes a gift.
• Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
• 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}
• 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.
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• 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}
• 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}
• Lessor: means a person who, in the ordinary course of business, regularly leases, offers to lease or arranges for the lease of personal property under a consumer lease. See Maine Revised Statutes Title 10 Sec. 1122
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Majority: when used in reference to age shall mean the age of 18 and over. See Maine Revised Statutes Title 1 Sec. 72
• Month: means a calendar month. See Maine Revised Statutes Title 1 Sec. 72
• 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
• Municipality: 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
• Person: means an individual, association, corporation, limited liability company, limited partnership, limited liability partnership, partnership, club, trust, estate, society, company, receiver, trustee, assignee, referee or other person acting in a fiduciary or representative capacity, whether appointed by a court or otherwise, and any combination of individuals. See Maine Revised Statutes Title 8 Sec. 371
• Personal property: All property that is not real property.
• Pupil: means elementary or secondary school student. See Maine Revised Statutes Title 20-A Sec. 15001
• Regional school unit: means the state-approved unit of school administration as established pursuant to chapter 103?A. See Maine Revised Statutes Title 20-A Sec. 1
• School board: means the governing body with statutory powers and duties for a school administrative unit. See Maine Revised Statutes Title 20-A Sec. 1
• School committee: means the governing body with statutory powers and duties for a municipal school unit. See Maine Revised Statutes Title 20-A Sec. 1
• State valuation: means the value certified to the Secretary of State as provided in Title 36, section 305, subsection 1. See Maine Revised Statutes Title 20-A Sec. 1
• Supervised lender: means "supervised lender" as defined under Title 9?A, section 1?301, subsection 39. See Maine Revised Statutes Title 10 Sec. 1122
• Town: includes cities and plantations, unless otherwise expressed or implied. See Maine Revised Statutes Title 1 Sec. 72
• Trustee: A person or institution holding and administering property in trust.
• Work: means to build, alter, repair or demolish any improvement on, connected with or beneath the surface of any real property, or to excavate, clear, grade, fill or landscape any real property, to construct driveways, private roadways, highways and bridges, drilled wells, septic systems, sewage systems or utilities, to furnish materials for any of those purposes or to perform labor upon real property. See Maine Revised Statutes Title 10 Sec. 1111
• Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72