Terms Used In Maine Revised Statutes > Title 7 > Part 6-A > Chapter 529 - Protection From Damage

• Administrator: means the Superintendent of Consumer Credit Protection. See Maine Revised Statutes Title 32 Sec. 6132
• Administrator: means the Superintendent of Consumer Credit Protection within the Department of Professional and Financial Regulation. See Maine Revised Statutes Title 32 Sec. 6151
• 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.
• Applicant: means a person filing an application for a license under this subchapter. See Maine Revised Statutes Title 32 Sec. 6132
• 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.
• Capital adequacy: means that an applicant is financially sound and has liquid assets useable in the business of at least $10,000, computed according to generally accepted accounting principles, for the full term of the registration. See Maine Revised Statutes Title 32 Sec. 6132
• Cash-dispensing machine: means an electronic device that, operating in conjunction with a processor and network, allows a customer to debit an account in exchange for dispensing cash and that may allow a customer to effectuate account transfers subject to the limitations of section 6152. See Maine Revised Statutes Title 32 Sec. 6151
• Check: means any check, draft, money order or other instrument for the transmission or payment of money. See Maine Revised Statutes Title 32 Sec. 6132
• Check cashing business: means any person who engages in the business of cashing checks for a fee. See Maine Revised Statutes Title 32 Sec. 6132
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• 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}
• 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}
• Establish: means to own, lease or otherwise legally control. See Maine Revised Statutes Title 32 Sec. 6151
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• 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}
• Fiduciary: A trustee, executor, or administrator.
• Financial institution: means any financial institution as defined in Title 9?B, section 131, subsection 17; any credit union as defined in Title 9?B, section 131, subsection 12; or any bank, commercial bank, savings bank, trust company, building and loan association, savings and loan association, savings association, cooperative bank, credit union or similar banking or credit union organization chartered by any other state or by the Federal Government. See Maine Revised Statutes Title 32 Sec. 6151
• Foreign currency exchange business: means a person who engages in the business of exchanging foreign currency for a fee. See Maine Revised Statutes Title 32 Sec. 6132
• Fraud: Intentional deception resulting in injury to another.
• Identification: means , and is limited to, an unexpired and otherwise valid drivers license; a state identification card issued by any state of the United States or its territories or the District of Columbia showing a photograph and signature; a United States government resident alien identification card; a United States passport; or a United States military identification card. See Maine Revised Statutes Title 32 Sec. 6132
• 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}
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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
• 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}
• Network: means a person who engages primarily in the establishment and maintenance of a computer-operated system for transmitting items and messages between financial institutions, processors and cash-dispensing machines or similar electronic devices. See Maine Revised Statutes Title 32 Sec. 6151
• Notice: means written notification served personally, sent by certified mail or sent by first-class mail to the last known address of the person for whom the notification is intended. See Maine Revised Statutes Title 36 Sec. 111
• Operator: means the person who owns, leases or otherwise legally controls a cash-dispensing machine and is responsible for registering the cash-dispensing machine. See Maine Revised Statutes Title 32 Sec. 6151
• 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 an individual, partnership, association, joint-stock association, limited liability company, trust or corporation. See Maine Revised Statutes Title 32 Sec. 6132
• Person: means an individual, partnership, corporation or other business association recognized under state law. See Maine Revised Statutes Title 32 Sec. 6151
• Personal property: All property that is not real property.
• Processor: means a person who electronically acquires financial data emanating from a cash-dispensing machine and relays that data to a network. See Maine Revised Statutes Title 32 Sec. 6151
• Real estate: includes lands and all tenements and hereditaments connected therewith, and all rights thereto and interests therein. See Maine Revised Statutes Title 1 Sec. 72
• Registrant: means a person registered under this subchapter. See Maine Revised Statutes Title 32 Sec. 6132
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Return: means any document, digital file or electronic data transmission containing information required by this Title to be reported to the State Tax Assessor. See Maine Revised Statutes Title 36 Sec. 111
• Satellite facility: means a satellite facility as defined in Title 9?B, section 131, subsection 35. See Maine Revised Statutes Title 32 Sec. 6151
• Service corporation: means a service corporation, as defined in Title 9?B, section 131, subsection 37, owned by one or more financial institutions. See Maine Revised Statutes Title 32 Sec. 6151
• Service of process: The service of writs or summonses to the appropriate party.
• Servicing agent: means a person who contracts with an operator to provide customer relations, financial recordkeeping or similar services in regard to a cash-dispensing machine. See Maine Revised Statutes Title 32 Sec. 6151
• 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
• Town: includes cities and plantations, unless otherwise expressed or implied. See Maine Revised Statutes Title 1 Sec. 72
• United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72