Maine Revised Statutes > Title 20-A > Part 3 > Chapter 221 – School Records, Audits and Reports
Current as of: 2022 |
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| Sections | ||
|---|---|---|
| Subchapter 1 | Student Records | 6001 – 6005 |
| Subchapter 2 | Audits | 6051 – 6052 |
| Subchapter 3 | Employee and Applicant Records | 6101 – 6103 |
| Subchapter 4 | Miscellaneous | 6151 – 6152 |
Terms Used In Maine Revised Statutes > Title 20-A > Part 3 > Chapter 221 - School Records, Audits and Reports
- Actuarial equivalent: means an amount of equal value when computed at the discount rate contained in actuarial assumptions adopted by the board. See Maine Revised Statutes Title 5 Sec. 17001
- Alternate payee: means a spouse, former spouse, child or other dependent of a member or retiree who is recognized by a domestic relations order as having a right to receive all or a portion of the benefits payable by the retirement system with respect to that member or retiree. See Maine Revised Statutes Title 5 Sec. 17001
- Ancient burying ground: means a cemetery established before 1880 in which burial is restricted to:
A. See Maine Revised Statutes Title 13 Sec. 1101-AAnnuity: 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. Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense. 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. Attachment: A procedure by which a person's property is seized to pay judgments levied by the court. Beneficiary: means a person or persons designated by a member to receive a benefit under this Part or a person otherwise entitled to receive a benefit under this Part. See Maine Revised Statutes Title 5 Sec. 17001 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: means any payment made, or required to be made, to a beneficiary under chapter 423, subchapter V or chapter 425, subchapter V. See Maine Revised Statutes Title 5 Sec. 17001 Board: means the board of trustees, established under section 12004?F, subsection 9, to administer the Maine Public Employees Retirement System. See Maine Revised Statutes Title 5 Sec. 17001 Chief executive officer: means the Chief Executive Officer of the Maine Public Employees Retirement System. See Maine Revised Statutes Title 5 Sec. 17001 Commissioner: means the Commissioner of Education or the commissioner's designee. See Maine Revised Statutes Title 20-A Sec. 1 Consumer: means an individual who rents personal property under a rental-purchase agreement used primarily for personal, family or household purposes. See Maine Revised Statutes Title 9-A Sec. 11-105 Consumer: means a person or entity residing or domiciled in this State with a pending civil claim or action and represented by an attorney. See Maine Revised Statutes Title 9-A Sec. 12-102 Conviction: A judgement of guilt against a criminal defendant. Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC Credit sale: means the sale of a dwelling or residential real estate purchased for a personal, family or household purpose in which credit is extended by the seller and either the debt is payable in installments or a finance charge is made. See Maine Revised Statutes Title 9-A Sec. 13-102 Deed: The legal instrument used to transfer title in real property from one person to another. Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime. Department: means the Department of Education. See Maine Revised Statutes Title 20-A Sec. 1 Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial. Domestic relations order: means a judgment, decree or order, including approval of a property settlement agreement, that:
A. See Maine Revised Statutes Title 5 Sec. 17001Executor: A male person named in a will to carry out the decedent Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. Source: OCC Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. 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 Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances: Fraud: Intentional deception resulting in injury to another. 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. Immediate family member: includes stepparents, stepchildren, stepsiblings and adoptive relationships. See Maine Revised Statutes Title 9-A Sec. 13-102 Individual: means a natural person. See Maine Revised Statutes Title 9-A Sec. 13-102 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 Legal funding: means a transaction in which a company makes a cash payment to a consumer in exchange for the right to receive an amount out of the potential proceeds of any realized settlement, judgment, award or verdict the consumer may receive in a civil claim or action. See Maine Revised Statutes Title 9-A Sec. 12-102 Lien: A claim against real or personal property in satisfaction of a debt. Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants. Litigation funding provider: means a person or entity, wherever located, that provides legal funding to a consumer. See Maine Revised Statutes Title 9-A Sec. 12-102 Loan processor or underwriter: means an individual who performs clerical or support duties as an employee at the direction of and subject to the supervision and instruction of a person licensed or exempt from licensing under the provisions of this Title. See Maine Revised Statutes Title 9-A Sec. 13-102 Member: means any person included in the membership of a retirement program of the retirement system, as provided in chapter 423, subchapter 2, or chapter 425, subchapter 2. See Maine Revised Statutes Title 5 Sec. 17001 Merchant: means a person who regularly provides the use of property through rental-purchase agreements and to whom rental payments are initially payable on the face of the rental-purchase agreement. See Maine Revised Statutes Title 9-A Sec. 11-105 Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC Mortgage loan originator: means an individual who for compensation or gain or in the expectation of compensation or gain takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan. See Maine Revised Statutes Title 9-A Sec. 13-102 Mortgagee: The person to whom property is mortgaged and who has loaned the money. National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC Nationwide mortgage licensing system and registry: means a mortgage licensing system developed and maintained by a national organization dedicated to advancing the state banking system and a national association of residential mortgage regulators for the licensing and registration of licensed mortgage loan originators. See Maine Revised Statutes Title 9-A Sec. 13-102 Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose. Nontraditional mortgage product: means any mortgage product other than a 30-year fixed rate mortgage. See Maine Revised Statutes Title 9-A Sec. 13-102 Normal retirement age: means the specified age, the years of service requirement or any combination of age and years of service requirements at which a member becomes eligible for retirement benefits and at which those benefits may not be reduced under section 17852, subsection 3 or 3?A; section 17852, subsection 10, paragraph C; and section 18452, subsection 3. See Maine Revised Statutes Title 5 Sec. 17001 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. Parent: means a parent, guardian or legal guardian. See Maine Revised Statutes Title 20-A Sec. 1 Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses. Person: means a natural person, corporation, company, limited liability company, partnership or association. See Maine Revised Statutes Title 9-A Sec. 13-102 Plaintiff: The person who files the complaint in a civil lawsuit. Private school: means an academy, seminary, institute or other private corporation or body formed for educational purposes covering kindergarten through grade 12 or any portion thereof. See Maine Revised Statutes Title 20-A Sec. 1 Public burying ground: means a burying ground or cemetery in which any person may be buried without regard to religious or other affiliation and includes a cemetery owned and operated by a municipality, a cemetery corporation or a cemetery association. See Maine Revised Statutes Title 13 Sec. 1101-A Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide. Public school: means a school that is governed by a school board of a school administrative unit and funded primarily with public funds. See Maine Revised Statutes Title 20-A Sec. 1 Qualified domestic relations order: means a domestic relations order that:
- You are late making a payment or commit some other default, triggering an increase to a penalty rate
- The bank changes the terms of your account and you do not reject the change.
- The rate expires (if the rate was fixed for only a certain period of time).
A. See Maine Revised Statutes Title 5 Sec. 17001Real estate brokerage activity: means any activity that involves offering or providing real estate brokerage services to the public, including:
A. See Maine Revised Statutes Title 9-A Sec. 13-102Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land. Registered mortgage loan originator: means an individual who:
A. See Maine Revised Statutes Title 9-A Sec. 13-102Rental-purchase agreement: means an agreement for the use of personal property by an individual primarily for personal, family or household purposes for an initial period of 4 months or less that is automatically renewable with each payment after the initial period and that permits the consumer to become the owner of the property, but does not obligate or require the consumer to continue renting or using the property beyond the initial period. See Maine Revised Statutes Title 9-A Sec. 11-105 Residential mortgage loan: means any loan primarily for personal, family or household use that is secured by a mortgage, deed of trust or other equivalent consensual security interest on a dwelling or residential real estate upon which is constructed or intended to be constructed a dwelling. See Maine Revised Statutes Title 9-A Sec. 13-102 Residential real estate: means any real property located in the State, upon which is constructed or intended to be constructed a dwelling. See Maine Revised Statutes Title 9-A Sec. 13-102 Retirement: means termination of membership with a retirement allowance granted under this chapter. See Maine Revised Statutes Title 5 Sec. 17001 Retirement system: means the Maine Public Employees Retirement System. See Maine Revised Statutes Title 5 Sec. 17001 School administrative unit: means the state-approved unit of school administration and includes a municipal school unit, school administrative district, community school district, regional school unit or any other municipal or quasi-municipal corporation responsible for operating or constructing public schools, except that it does not include a career and technical education region. 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 Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims. Spouse: means the person currently legally married to a member. See Maine Revised Statutes Title 5 Sec. 17001 Superintendent: means the person in a school administrative unit or school union appointed and having the authority and responsibility under this Title and other applicable statutes. See Maine Revised Statutes Title 20-A Sec. 1 Testify: Answer questions in court. Town: includes cities and plantations, unless otherwise expressed or implied. See Maine Revised Statutes Title 1 Sec. 72 Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence. Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC Unique identifier: means a number or other identifier assigned by protocols established by the nationwide mortgage licensing system and registry. See Maine Revised Statutes Title 9-A Sec. 13-102 Venue: The geographical location in which a case is tried. Verdict: The decision of a petit jury or a judge.