Sections
Part 1 General Provisions 10-101 – 10-102
Part 2 Registration and Bonding 10-201 – 10-202
Part 3 Regulation of Practices 10-301 – 10-310
Part 4 Remedies and Penalties 10-401

Terms Used In Maine Revised Statutes > Title 9-A > Article 10 - Loan Brokers

  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. Source: FDIC
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appraisal: A determination of property value.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • 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
  • Bequest: Property gifted by will.
  • 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.
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • county commissioners: means the county commissioners of York County and "county" means York County. See Maine Revised Statutes Title 30-A Sec. 831
  • 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
  • creditor: means any person who makes a refund anticipation loan or who takes assignment of a refund anticipation loan. See Maine Revised Statutes Title 9-A Sec. 10-102
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Department: means the Department of Health and Human Services and its agents and authorized representatives. See Maine Revised Statutes Title 19-A Sec. 101
  • Devise: To gift property by will.
  • Employer: means a person who agrees to reimburse for expenditures or to compensate a person who in return agrees to provide services. See Maine Revised Statutes Title 3 Sec. 312-A
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Ex officio: Literally, by virtue of one's office.
  • Facilitator of a refund anticipation loan or refund anticipation check: means a person who individually or in conjunction or cooperation with another person:
A. See Maine Revised Statutes Title 9-A Sec. 10-102
  • 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
  • interest rate: means the interest rate based on the creditor's reasonable estimate of the time the refund will be delivered. See Maine Revised Statutes Title 9-A Sec. 10-102
  • Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
  • Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
  • Licensed camping facility: means a recreational camp, youth camp or camping area licensed under Title 22, section 2495. See Maine Revised Statutes Title 12 Sec. 9001-A
  • Loan broker: means any person who, with respect to the extension of consumer credit by others, provides or offers to provide, in return for the separate payment of money or other valuable consideration, any of the following services:
    (1) Improving a consumer's credit record, history or rating;
    (2) Arranging for or obtaining an extension of credit for a consumer; or
    (3) Providing advice or assistance to a consumer with respect to subparagraph (1) or (2). See Maine Revised Statutes Title 9-A Sec. 10-102
  • Lobbying: includes the time spent to prepare and submit to the Governor, an official in the legislative branch, an official in the executive branch, a constitutional officer or a legislative committee oral and written proposals for, or testimony or analyses concerning, a legislative action. See Maine Revised Statutes Title 3 Sec. 312-A
  • Lobbyist: means any person who is specifically employed by another person for the purpose of and who engages in lobbying in excess of 8 hours in any calendar month, or any individual who, as a regular employee of another person, expends an amount of time in excess of 8 hours in any calendar month in lobbying. See Maine Revised Statutes Title 3 Sec. 312-A
  • Lobbyist associate: means an individual who:
  • A. See Maine Revised Statutes Title 3 Sec. 312-A
  • minor child: means a person who has not attained the age of 18 years. See Maine Revised Statutes Title 19-A Sec. 101
  • 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
  • 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
  • Obligee: means any person to whom a duty of support is owed. See Maine Revised Statutes Title 19-A Sec. 101
  • Obligor: means any person owing a duty of support. See Maine Revised Statutes Title 19-A Sec. 101
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Parent: means the legal parent or the legal guardian when no legal parent exists. See Maine Revised Statutes Title 19-A Sec. 101
  • Person: means an individual, trust, estate, partnership, association, company, corporation, political subdivision of the State, instrumentality of the State or other entity. See Maine Revised Statutes Title 19-A Sec. 101
  • Person: means an individual, corporation, proprietorship, joint stock company, business trust, syndicate, association, professional association, labor union, firm, partnership, club or other organization, whether profit or nonprofit, or any municipality or quasi-municipality or group of persons acting in concert, but does not include this State or any other agency of this State. See Maine Revised Statutes Title 3 Sec. 312-A
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Probate: Proving a will
  • 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
  • Refund anticipation check: means a check, stored value card or other payment mechanism representing the proceeds of the consumer's tax refund that was issued by a depository institution or other person that received a direct deposit of the consumer's tax refund or tax credit and for which the consumer has paid a fee or other consideration. See Maine Revised Statutes Title 9-A Sec. 10-102
  • Refund anticipation loan: means a loan that is secured by or that the creditor arranges to be repaid directly or indirectly from the proceeds of the consumer's income tax refund or tax credits. See Maine Revised Statutes Title 9-A Sec. 10-102
  • Refund anticipation loan fee: includes any charge, fee or other consideration for a deposit account if the deposit account is used for the receipt of the consumer's tax refund to repay the amount owed on the loan. See Maine Revised Statutes Title 9-A Sec. 10-102
  • 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.
  • state: means any state, territory or possession of the United States, the Commonwealth of Puerto Rico and the District of Columbia. See Maine Revised Statutes Title 19-A Sec. 101
  • Tenancy by the entirety: A type of joint tenancy between husband and wife that is recognized in some States. Neither party can sever the joint tenancy relationship; when a spouse dies, the survivor acquires full title to the property.
  • Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
  • Testify: Answer questions in court.
  • Town: includes cities and plantations, unless otherwise expressed or implied. See Maine Revised Statutes Title 1 Sec. 72
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.