Maine Revised Statutes > Title 31 > Chapter 19 – Uniform Limited Partnership Act
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Terms Used In Maine Revised Statutes > Title 31 > Chapter 19 - Uniform Limited Partnership Act
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Affiliated business: means a member of a group of 2 or more businesses in which more than 50% of the voting stock of each member corporation or more than 50% of the ownership interest in a business other than a corporation is directly or indirectly owned by a common owner or owners, either corporate or noncorporate, or by one or more of the member businesses. See Maine Revised Statutes Title 30-A Sec. 5250-I
- Affordable housing: means a decent, safe and sanitary dwelling, apartment or other living accommodation for a household whose income does not exceed 120% of the median income for the area as defined by the United States Department of Housing and Urban Development under the United States Housing Act of 1937, Public Law 75-412, 50 Stat. See Maine Revised Statutes Title 30-A Sec. 5246
- 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.
- 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.
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
- Authority: means the Maine State Housing Authority. See Maine Revised Statutes Title 30-A Sec. 5246
- Authorized agent: means employees of the department, veterinarians licensed by the State to practice veterinary medicine while performing official duties for the department, employees of the Animal and Plant Health Inspection Service of the United States Department of Agriculture, or other persons designated by the commissioner. See Maine Revised Statutes Title 7 Sec. 1751
- Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Base level of employment: means the greater of either the total employment in the State of a business as of March 31st, June 30th, September 30th and December 31st of the calendar year immediately preceding the year of the business's application to become a certified Pine Tree Development Zone business divided by 4 or its average employment during the base period. See Maine Revised Statutes Title 30-A Sec. 5250-I
- Base period: means the 3 calendar years prior to the year in which a business applies to be certified as a qualified Pine Tree Development Zone business. See Maine Revised Statutes Title 30-A Sec. 5250-I
- Call center: means a business enterprise that employs 50 or more full-time employees for the purpose of customer service. See Maine Revised Statutes Title 30-A Sec. 5250-I
- Catastrophic occurrence: means a fire, flood, hurricane, windstorm, earthquake or other similar event that is not within the control of a business to prevent. See Maine Revised Statutes Title 30-A Sec. 5250-I
- Certificate of limited partnership: means the certificate required by section 1321. See Maine Revised Statutes Title 31 Sec. 1302
- Commissioner: means the Commissioner of Agriculture, Conservation and Forestry or the commissioner's duly authorized agent. See Maine Revised Statutes Title 7 Sec. 1751
- Commissioner: means the Commissioner of Economic and Community Development. See Maine Revised Statutes Title 30-A Sec. 5250-I
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Constituent limited partnership: means a constituent organization that is a limited partnership. See Maine Revised Statutes Title 31 Sec. 1431
- Constituent organization: means an organization that is party to a merger. See Maine Revised Statutes Title 31 Sec. 1431
- Converted organization: means the organization into which a converting organization converts pursuant to sections 1432 to 1435. See Maine Revised Statutes Title 31 Sec. 1431
- Converting limited partnership: means a converting organization that is a limited partnership. See Maine Revised Statutes Title 31 Sec. 1431
- Converting organization: means an organization that converts into another organization pursuant to section 1432. See Maine Revised Statutes Title 31 Sec. 1431
- 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.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Debtor in bankruptcy: means a person that is the subject of:
A. See Maine Revised Statutes Title 31 Sec. 1302Deed: 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. 5250-I Director: means the Director of the Maine State Housing Authority. See Maine Revised Statutes Title 30-A Sec. 5246 Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial. Distribution: means a transfer of money or other property from a limited partnership to a partner in the partner's capacity as a partner or to a transferee on account of a transferable interest owned by the transferee. See Maine Revised Statutes Title 31 Sec. 1302 district: means a specified area within the corporate limits of a municipality that has been designated as provided under sections 5247 and 5250 to be developed under an affordable housing development program and financed under section 5250?A. See Maine Revised Statutes Title 30-A Sec. 5246 Domestic animals: means cattle, equines, goats, sheep, swine, cats, dogs, domesticated cervids or other domesticated animals; large game as defined in section 1341, subsection 5; and poultry. See Maine Revised Statutes Title 7 Sec. 1751 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 Experiential tourism: means tourism that allows individuals to be active participants in outdoor recreational activities including but not limited to: hiking, camping, birding and other wildlife viewing, nature photography, visits to historical and cultural sites and museums, nature tourism, adventure tourism and ecotourism. See Maine Revised Statutes Title 30-A Sec. 5250-I Federal Government: means the United States of America or any agency or instrumentality, corporate or otherwise, of the United States of America. See Maine Revised Statutes Title 30-A Sec. 2001 Fiduciary: A trustee, executor, or administrator. Financial services: means services provided by an insurance company subject to taxation under Title 36, chapter 357; a captive insurance company formed or licensed under Title 24?A, chapter 83; a financial institution subject to taxation under Title 36, chapter 819; or a mutual fund service provider. See Maine Revised Statutes Title 30-A Sec. 5250-I 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. Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC Foreign limited liability limited partnership: means a foreign limited partnership whose general partners have limited liability for the obligations of the foreign limited partnership under a provision similar to section 1354, subsection 3. See Maine Revised Statutes Title 31 Sec. 1302 Foreign limited partnership: means a partnership formed under the laws of a jurisdiction other than this State and required by those laws to have one or more general partners and one or more limited partners. See Maine Revised Statutes Title 31 Sec. 1302 General partner: means :
A. See Maine Revised Statutes Title 31 Sec. 1302General partner: means a general partner of a limited partnership. See Maine Revised Statutes Title 31 Sec. 1431 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 Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes. 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 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. Labor market average weekly wage: means the average weekly wage as published by the Department of Labor for the labor market or markets in which potential qualified Pine Tree Development Zone employees are located for the 12 most recently reported months preceding the date of application. See Maine Revised Statutes Title 30-A Sec. 5250-I Labor market unemployment rate: means the average unemployment rate as published by the Department of Labor for the labor market or markets in which potential qualified Pine Tree Development Zone employees are located for the 12 most recently reported months preceding the date of application. See Maine Revised Statutes Title 30-A Sec. 5250-I Lien: A claim against real or personal property in satisfaction of a debt. Limited partner: means :
A. See Maine Revised Statutes Title 31 Sec. 1302Maintenance and operation: means all activities necessary to maintain affordable housing after development and all activities necessary to operate the affordable housing, including, but not limited to, informational, promotional, safety and surveillance activities. See Maine Revised Statutes Title 30-A Sec. 5246 Manufacturing: means :
A. See Maine Revised Statutes Title 30-A Sec. 5250-IMilitary redevelopment zone: means a specified area within a municipality that is contained within a labor market that includes a military facility that sustained a loss of 400 or more employed workers, if the loss was caused by a federal military facility closure or downsizing, during the 5-year period immediately preceding the time of application for designation as a military redevelopment zone, or is projected to sustain a loss of 400 or more employed workers during the 5-year period immediately following the time of application, and has been designated by the commissioner as a military redevelopment zone under section 5250?J, subsection 3?A. See Maine Revised Statutes Title 30-A Sec. 5250-I Month: means a calendar month. See Maine Revised Statutes Title 1 Sec. 72 Municipal legislative body: means :
A. See Maine Revised Statutes Title 30-A Sec. 2001Municipal officers: means :
A. See Maine Revised Statutes Title 30-A Sec. 2001Municipality: means a city or town, except as provided in chapter 225. See Maine Revised Statutes Title 30-A Sec. 2001 Mutual fund service provider: means a taxpayer, as defined in Title 36, section 111, subsection 7, subject to tax under Title 36, Part 8 other than a financial institution as defined in Title 36, section 5206?D, subsection 8, that derives more than 50% of its gross income from the direct or indirect provision of management, distribution or administration services to or on behalf of a regulated investment company or from trustees, sponsors and participants of employee benefit plans that have accounts in a regulated investment company. See Maine Revised Statutes Title 30-A Sec. 5250-I 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. Organization: includes domestic and foreign organizations whether or not organized for profit. See Maine Revised Statutes Title 31 Sec. 1431 Organizational documents: means :
A. See Maine Revised Statutes Title 31 Sec. 1431Oversight: Committee review of the activities of a Federal agency or program. parcel: includes an entire unit of real estate notwithstanding the fact that it is divided by a road, way, railroad or pipeline. See Maine Revised Statutes Title 30-A Sec. 5250-I Partner: means a limited partner or general partner. See Maine Revised Statutes Title 31 Sec. 1302 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. Partnership agreement: means the partners' agreement, whether oral, implied, in a record or in any combination, concerning the limited partnership. See Maine Revised Statutes Title 31 Sec. 1302 Person: means an individual; corporation; business trust; estate; trust; partnership; limited liability company; association; joint venture; government; governmental subdivision, agency or instrumentality; public corporation; or any other legal or commercial entity. See Maine Revised Statutes Title 31 Sec. 1302 Person: shall mean the State, any municipality, political subdivision, institution, public or private corporation, individual, partnership or other entity. See Maine Revised Statutes Title 7 Sec. 1751 Person: means an individual, corporation, partnership, firm, organization or other legal entity. See Maine Revised Statutes Title 30-A Sec. 2001 Person dissociated as a general partner: means a person dissociated as a general partner of a limited partnership. See Maine Revised Statutes Title 31 Sec. 1302 Personal liability: means personal liability for a debt, liability or other obligation of an organization that is imposed on a person that co-owns, has an interest in or is a member of the organization:
A. See Maine Revised Statutes Title 31 Sec. 1431Pine Tree Development Zone benefits: means :
A. See Maine Revised Statutes Title 30-A Sec. 5250-IPlaintiff: The person who files the complaint in a civil lawsuit. Poultry: means all domesticated birds. See Maine Revised Statutes Title 7 Sec. 1751 Principal office: means the office where the principal executive office of a limited partnership or foreign limited partnership is located, whether or not the office is located in this State. See Maine Revised Statutes Title 31 Sec. 1302 Probate: Proving a will program: means a statement of means and objectives designed to encourage the development and maintenance of affordable housing within an affordable housing development district. See Maine Revised Statutes Title 30-A Sec. 5246 Project costs: means any expenditures or monetary obligations incurred or expected to be incurred that are authorized by section 5249, subsection 1 and included in an affordable housing development program. See Maine Revised Statutes Title 30-A Sec. 5246 Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government. qualified business: means any for-profit business in this State engaged in or that will engage in financial services, manufacturing or a targeted technology business that has added or will add at least one qualified Pine Tree Development Zone employee above its base level of employment in this State and that meets the following criteria:
A. See Maine Revised Statutes Title 30-A Sec. 5250-IQualified business activity: means a business activity that is conducted within a Pine Tree Development Zone and is directly related to financial services, manufacturing or a targeted technology business for which the business receives a letter of certification from the commissioner pursuant to section 5250?O. See Maine Revised Statutes Title 30-A Sec. 5250-I qualified Pine Tree Development Zone employees: means new, full-time employees hired in this State by a qualified Pine Tree Development Zone business for work directly in one or more qualified business activities for whom a retirement program subject to the Employee Retirement Income Security Act of 1974, 29 United States Code §§ 101 to 1461, as amended, and group health insurance are provided and whose income derived from employment within the Pine Tree Development Zone, calculated on a calendar year basis, is greater than the most recent annual per capita personal income in the county in which the qualified employee is employed. See Maine Revised Statutes Title 30-A Sec. 5250-I Quarterly census of employment and wages: means the comprehensive tabulation of employment and wage information for workers produced by the quarterly census of employment and wages program, a cooperative program involving the federal Department of Labor, Bureau of Labor Statistics and the state employment security agencies. See Maine Revised Statutes Title 30-A Sec. 5250-I Real estate: means land and structures attached to it. See Maine Revised Statutes Title 30-A Sec. 2001 Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land. Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Maine Revised Statutes Title 31 Sec. 1302 Required information: means the information that a limited partnership is required to maintain under section 1311. See Maine Revised Statutes Title 31 Sec. 1302 right of contribution: means any benefit provided by a person to a limited partnership in order to become a partner or in the person's capacity as a partner. See Maine Revised Statutes Title 31 Sec. 1302 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. Sign: means :
A. See Maine Revised Statutes Title 31 Sec. 1302State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands or any territory or insular possession subject to the jurisdiction of the United States. See Maine Revised Statutes Title 31 Sec. 1302 State average weekly wage: means the average weekly wage as published by the Department of Labor for the State as a whole for the 12 most recently reported months preceding the date of application. See Maine Revised Statutes Title 30-A Sec. 5250-I State unemployment rate: means the average unemployment rate published by the Department of Labor for the State as a whole for the 12 most recently reported months preceding the date of application. See Maine Revised Statutes Title 30-A Sec. 5250-I Statute of limitations: A law that sets the time within which parties must take action to enforce their rights. Surviving organization: means an organization into which one or more other organizations are merged. See Maine Revised Statutes Title 31 Sec. 1431 Targeted technology business: means a business primarily involved in a targeted technology as defined in Title 5, section 15301. See Maine Revised Statutes Title 30-A Sec. 5250-I Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident. Town: includes cities and plantations, unless otherwise expressed or implied. See Maine Revised Statutes Title 1 Sec. 72 Transfer: includes an assignment, conveyance, deed, bill of sale, lease, mortgage, security interest, encumbrance, gift and transfer by operation of law. See Maine Revised Statutes Title 31 Sec. 1302 Transferable interest: means a partner's right to receive distributions. See Maine Revised Statutes Title 31 Sec. 1302 Transferee: means a person to which all or part of a transferable interest has been transferred, whether or not the transferor is a partner. See Maine Revised Statutes Title 31 Sec. 1302 Trustee: A person or institution holding and administering property in trust. Unit of local government: means a municipality, county, plantation, unorganized territory or Indian tribe. See Maine Revised Statutes Title 30-A Sec. 5250-I Working waterfront: means a parcel of land abutting water subject to tidal influence or land located in the intertidal zone that is used primarily or predominantly to provide access to or support the conduct of commercial fishing and marine activities. See Maine Revised Statutes Title 30-A Sec. 5250-I Working waterfront industry: means an industry primarily involved in supporting commercial fishing, marine and boat building activities. See Maine Revised Statutes Title 30-A Sec. 5250-I Writ: A formal written command, issued from the court, requiring the performance of a specific act. zone: means a specified area within the boundaries of the State that has been designated by the commissioner as a Pine Tree Development Zone in accordance with section 5250?J, subsection 3?A or 3?B. See Maine Revised Statutes Title 30-A Sec. 5250-I