§ 1661 Legislative intent
§ 1662 Funds
§ 1663 Rules
§ 1664 Lapse

Terms Used In Maine Revised Statutes > Title 22 > Subtitle 2 > Part 3 > Chapter 269

  • Adverse claim: means a claim that a claimant has a property interest in a financial asset and that it is a violation of the rights of the claimant for another person to hold, transfer or deal with the financial asset. See Maine Revised Statutes Title 22 Sec. 1545
  • 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.
  • Appraisal: A determination of property value.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Clearing corporation: means :
(i) A person that is registered as a "clearing agency" under the federal securities laws;
(ii) A federal reserve bank; or
(iii) Any other person that provides clearance or settlement services with respect to financial assets that would require it to register as a clearing agency under the federal securities laws but for an exclusion or exemption from the registration requirement, if its activities as a clearing corporation, including adoption of rules, are subject to regulation by a federal or state governmental authority. See Maine Revised Statutes Title 22 Sec. 1545
  • Commissioner: means the Commissioner of Health and Human Services. See Maine Revised Statutes Title 22 Sec. 1-A
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: means the issuer of the shares held by a shareholder demanding appraisal and, for matters covered in sections 1323 to 1332, includes the surviving entity in a merger. See Maine Revised Statutes Title 22 Sec. 1661
  • Department: means the Department of Health and Human Services. See Maine Revised Statutes Title 22 Sec. 1-A
  • 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.
  • Entitlement holder: means a person identified in the records of a securities intermediary as the person having a security entitlement against the securities intermediary. See Maine Revised Statutes Title 22 Sec. 1545
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Fair value: means the value of a corporation's shares determined:
  • A. See Maine Revised Statutes Title 22 Sec. 1661
  • Financial asset: except as otherwise provided in section 8-1103, means:
  • (i) A security;
    (ii) An obligation of a person or a share, participation or other interest in a person or in property or an enterprise of a person that is, or is of a type, dealt in or traded on financial markets or that is recognized in any area in which it is issued or dealt in as a medium for investment; or
    (iii) Any property that is held by a securities intermediary for another person in a securities account if the securities intermediary has expressly agreed with the other person that the property is to be treated as a financial asset under this Article. See Maine Revised Statutes Title 22 Sec. 1545
  • 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.
  • Interest: means interest from the effective date of a corporate action until the date of payment, at the rate of interest on judgments in this State on the effective date of the corporate action. See Maine Revised Statutes Title 22 Sec. 1661
  • Interested transaction: means a corporate action described in section 1302, subsection 1, other than a merger pursuant to section 1105, involving an interested person in which any of the shares or assets of the corporation are being acquired or converted. See Maine Revised Statutes Title 22 Sec. 1661
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Minority: when used in reference to age shall mean under the age of 18. See Maine Revised Statutes Title 15 Sec. 225
  • 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.
  • Preferred shares: means a class or series of shares whose holders have preference over any other class or series of shares with respect to distributions. See Maine Revised Statutes Title 22 Sec. 1661
  • Securities intermediary: means :
  • (i) A clearing corporation; or
    (ii) A person, including a bank or broker, that in the ordinary course of its business maintains securities accounts for others and is acting in that capacity. See Maine Revised Statutes Title 22 Sec. 1545
  • Security: except as otherwise provided in section 8-1103, means an obligation of an issuer or a share, participation or other interest in an issuer or in property or an enterprise of an issuer:
  • (i) That is represented by a security certificate in bearer or registered form or the transfer of which may be registered upon books maintained for that purpose by or on behalf of the issuer;
    (ii) That is one of a class or series or by its terms is divisible into a class or series of shares, participations, interests or obligations; and
    (iii) That:
    (A) Is, or is of a type, dealt in or traded on securities exchanges or securities markets; or
    (B) Is a medium for investment and by its terms expressly provides that it is a security governed by this Article. See Maine Revised Statutes Title 22 Sec. 1545
  • Security entitlement: means the rights and property interest of an entitlement holder with respect to a financial asset specified in Part 5. See Maine Revised Statutes Title 22 Sec. 1545
  • Shareholder: means both a record shareholder and a beneficial shareholder. See Maine Revised Statutes Title 22 Sec. 1661
  • Trustee: A person or institution holding and administering property in trust.
  • United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 15 Sec. 225