Terms Used In Maine Revised Statutes > Title 9-A > Article 2 > Part 4 - Consumer Loans: Maximum Finance Charges

• Arrest: Taking physical custody of a person by lawful authority.
• bail: means the obtaining of the release of the defendant upon an undertaking that the defendant shall appear at the time and place required and that the defendant shall conform to each condition imposed in accordance with section 1026 that is designed to ensure that the defendant shall refrain from any new criminal conduct, to ensure the integrity of the judicial process and to ensure the safety of others in the community. See Maine Revised Statutes Title 15 Sec. 1003
• 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.
• Conflicting enactments: means multiple enactments, amendments, repeals, reallocations or reenactments, or any combination of these actions, that affect the same statutory unit and that have been adopted by multiple Acts passed within one legislative session or within a regular legislative session and any special sessions preceding the next regular legislative session that do not refer to each other. See Maine Revised Statutes Title 1 Sec. 91
• Contract: A legal written agreement that becomes binding when signed.
• Court: means any Justice of the Supreme Judicial Court or Superior Court or any active retired justice and any District Court Judge or active retired judge when assigned under Title 4, section 157?C. See Maine Revised Statutes Title 15 Sec. 1003
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Executive director: means the Executive Director of the Legislative Council appointed under Title 3, section 162. See Maine Revised Statutes Title 1 Sec. 91
• Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. ^{Source: OCC}
• 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}
• Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
• Month: means a calendar month. See Maine Revised Statutes Title 1 Sec. 72
• Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) ^{Source: OCC}
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• 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
• Revision clause: means a section of a law that is not allocated to the Maine Revised Statutes and that changes a term throughout the laws and instructs the revisor to implement the revision as part of update. See Maine Revised Statutes Title 1 Sec. 91
• Revisor: means the Revisor of Statutes, or the person under Title 3, section 162 who is responsible for the form and format of legislative instruments. See Maine Revised Statutes Title 1 Sec. 91
• Statutory unit: means a title, subtitle, part, subpart, chapter, subchapter, article, subarticle, section, subsection, paragraph, subparagraph, division or subdivision of the laws of Maine. See Maine Revised Statutes Title 1 Sec. 91
• United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72
• Update: means the process by which enactments, amendments, repeals, reallocations or reenactments from a legislative session or sessions are integrated into the statutory data base of the Maine Revised Statutes. See Maine Revised Statutes Title 1 Sec. 91
• Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72