Maine Revised Statutes > Title 32 > Chapter 111-A – Maine Commodity Code
Current as of: 2023 | Check for updates
|
Other versions
| Sections | ||
|---|---|---|
| Subchapter 1 | General Provisions | 11201 – 11210 |
| Subchapter 2 | Administration and Enforcement | 11301 – 11313 |
Terms Used In Maine Revised Statutes > Title 32 > Chapter 111-A - Maine Commodity Code
- Administrator: means the Securities Administrator. See Maine Revised Statutes Title 32 Sec. 11201
- 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.
- Board of trade: means any person or group of persons engaged in buying or selling any commodity or receiving any commodity for sale on consignment, whether that person or group of persons is characterized as a board of trade, exchange or other form of marketplace. See Maine Revised Statutes Title 32 Sec. 11201
- Books and records: means books, records, accounts, memoranda or other data pertaining to the purchase and distribution of milk. See Maine Revised Statutes Title 7 Sec. 2951
- Commission: means the Maine Milk Commission. See Maine Revised Statutes Title 7 Sec. 2951
- Commodity: means , except as otherwise specified by the administrator by rule or order, any agricultural, grain or livestock products or by-products, any metals or minerals, including a precious metal set forth in subsection 12, any gem or gemstone, whether characterized as precious, semiprecious or otherwise, any fuel, whether liquid, gaseous or otherwise, any foreign currency and all other goods, articles, products or items of any kind provided that the term commodity shall not include:
A. See Maine Revised Statutes Title 32 Sec. 11201Commodity contract: means any account, agreement or contract for the purchase or sale, primarily for speculation or investment purposes and not for use or consumption by the offeree or purchaser, of one or more commodities, whether for immediate or subsequent delivery or whether delivery is intended by the parties, and whether characterized as a cash contract, deferred shipment or deferred delivery contract, forward contract, futures contract, installment or margin contract, leverage contract or otherwise. See Maine Revised Statutes Title 32 Sec. 11201 Commodity Exchange Act: means the Act of Congress known as the "Commodity Exchange Act" as amended to the effective date of this chapter, codified at the United States Code, title 7, § 1, et seq. See Maine Revised Statutes Title 32 Sec. 11201 Commodity Futures Trading Commission: means the independent regulatory agency established by Congress to administer the Commodity Exchange Act. See Maine Revised Statutes Title 32 Sec. 11201 Commodity Futures Trading Commission Rule: means any rule or order of the Commodity Futures Trading Commission in effect on the effective date of this chapter, and all subsequent amendments, additions or other revisions to any rule or order, unless the administrator, within 10 days following the effective date of any such amendment, addition or revision, disallows the application of any such amendment, addition or revision to this chapter or to any provision by rule or order. See Maine Revised Statutes Title 32 Sec. 11201 Commodity merchant: means any of the following, as defined or described in the Commodity Exchange Act or by Commodity Futures Trading Commission Rule:
A. See Maine Revised Statutes Title 32 Sec. 11201Commodity option: means any account, agreement or contract giving a party to the account, agreement or contract the right, but not the obligation, to purchase or sell one or more commodities or one or more commodity contracts, or both, whether characterized as an option, privilege, indemnity, bid, offer, put, call, advance guaranty, decline guaranty or otherwise, but shall not include an option traded on a national securities exchange registered with the United States Securities and Exchange Commission. See Maine Revised Statutes Title 32 Sec. 11201 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. Consumer: means any person other than a milk dealer who purchases milk for fluid consumption. See Maine Revised Statutes Title 7 Sec. 2951 Dealer: means any person who purchases or receives milk for sale as the consignee or agent of a producer, or handles for sale, shipment, storage or processing within the State and shall include a producer-dealer and a sub-dealer, but shall not include a store other than an integrated operation. See Maine Revised Statutes Title 7 Sec. 2951 Ex officio: Literally, by virtue of one's office. Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller. Financial institution: means a bank, savings institution or trust company organized under, or supervised pursuant to, the laws of the United States or of any state. See Maine Revised Statutes Title 32 Sec. 11201 Integrated operation: means a person who is a dealer and who also sells at retail the milk that the person handles for sale, shipment, storage or processing within the State. See Maine Revised Statutes Title 7 Sec. 2951 Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants. Market: means any city, town or parts thereof of the State, or 2 or more of the same or parts thereof designated by the commission as a natural marketing area. See Maine Revised Statutes Title 7 Sec. 2951 Milk: means any of the following, regardless of the presence of any flavoring:
A. See Maine Revised Statutes Title 7 Sec. 2951Municipal officers: means the mayor, councillors and aldermen of cities, the members of the select board of towns and the assessors of plantations. See Maine Revised Statutes Title 36 Sec. 501 Municipality: shall include cities, towns and plantations. See Maine Revised Statutes Title 36 Sec. 501 offer to sell: includes every offer to sell, offer to purchase or offer to enter into a commodity contract or commodity option. See Maine Revised Statutes Title 32 Sec. 11201 Person: means an individual, a corporation, a partnership, an association, a joint-stock company, a trust where the interests of the beneficiaries are evidenced by a security, an unincorporated organization, a government or a political subdivision of a government, but does not include, a contract market designated by the Commodity Futures Trading Commission or any clearinghouse of the Commodity Futures Trading Commission or a national securities exchange registered with the United States Securities and Exchange Commission, or any employee, officer or director of such contract market, clearinghouse or exchange acting solely in that capacity. See Maine Revised Statutes Title 32 Sec. 11201 Person: means any individual, partnership, firm, corporation, association or other unit, and the State and all political subdivisions or agencies thereof, except state owned and operated institutions. See Maine Revised Statutes Title 7 Sec. 2951 Precious metal: means the following in either coin, bullion or other form:
A. See Maine Revised Statutes Title 32 Sec. 11201Producer: means any person who produces milk and sells such milk only to dealers. See Maine Revised Statutes Title 7 Sec. 2951 Producer-dealer: means a dealer who produces a part or all of the dealer's milk or a person who produces milk and sells to a grocery store or dairy products store or similar commercial establishment. See Maine Revised Statutes Title 7 Sec. 2951 Property: shall be construed to mean both real estate and personal property. See Maine Revised Statutes Title 36 Sec. 501 Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action. Retail sale: means a doorstep delivery and over-the-counter sales by stores. See Maine Revised Statutes Title 7 Sec. 2951 Retail store: means a grocery store, dairy product store or any similar commercial establishment where milk is sold to consumers for consumption off the premises. See Maine Revised Statutes Title 7 Sec. 2951 sell: includes every sale, contract of sale, contract to sell or disposition, for value. See Maine Revised Statutes Title 32 Sec. 11201 Store: means a grocery store, dairy product store, canteen, milk vending machine operator, milk dispensing operator or any similar commercial establishment or outlet or any other sale where milk is sold to consumers for consumption off the premises where sold. See Maine Revised Statutes Title 7 Sec. 2951 Sub-dealer: means any person who does not process milk and who purchases milk from a dealer and sells such milk in the same containers in which the person purchased it, but does not include a store. See Maine Revised Statutes Title 7 Sec. 2951 Tax: means the total amount required to be paid, withheld and paid over or collected and paid over with respect to estimated or actual tax liability under this Title, any credit or reimbursement allowed or paid pursuant to this Title that is recoverable by the assessor and any amount assessed by the assessor pursuant to this Title, including any interest or penalties provided by law. See Maine Revised Statutes Title 36 Sec. 111 Tax collector: shall mean any person chosen, appointed or designated by a municipality or the officers thereof to collect any tax due a municipality; or his successor in office. See Maine Revised Statutes Title 36 Sec. 501 Taxpayer: means any person required to file a return under this Title or to pay, withhold and pay over or collect and pay over any tax imposed by this Title. See Maine Revised Statutes Title 36 Sec. 111 Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held. Testify: Answer questions in court. Testimony: Evidence presented orally by witnesses during trials or before grand juries. Wholesale sale: means sale to any other person not included in retail. See Maine Revised Statutes Title 7 Sec. 2951