Terms Used In Maine Revised Statutes > Title 9-B > Part 4 > Chapter 47 - Trust Activities of Financial Institutions

• Act: means the Maine Governmental Facilities Authority Act. See Maine Revised Statutes Title 4 Sec. 1603
• Affiliate: means any company that controls, is controlled by, or is under common control with another company. See Maine Revised Statutes Title 9-B Sec. 131
• Agency: means a branch office of a financial institution at which all or part of the business of the institution is conducted, but the records pertaining to such business are maintained at another office of the institution, and not at such agency office. See Maine Revised Statutes Title 9-B Sec. 131
• Authority: means the Maine Governmental Facilities Authority as established by this Act. See Maine Revised Statutes Title 4 Sec. 1603
• Bonds: means any bonds or securities of the Maine Governmental Facilities Authority issued pursuant to this Act. See Maine Revised Statutes Title 4 Sec. 1603
• Child support: means money paid directly to a parent, to another person or agency awarded parental rights and responsibilities with respect to a child or to the department on behalf of a child receiving public assistance and medical or dental insurance coverage provided on behalf of a child pursuant to court order. See Maine Revised Statutes Title 19-A Sec. 1501
• Custodial parent: means a parent, caretaker relative or legal custodian of a dependent child who is the child's primary residential care provider. See Maine Revised Statutes Title 19-A Sec. 2101
• Decedent: A deceased person.
• Department: means the Department of Health and Human Services and its agents and authorized representatives. See Maine Revised Statutes Title 19-A Sec. 101
• Dependent child: means any minor child who is not emancipated. See Maine Revised Statutes Title 19-A Sec. 2101
• deposits: includes credit union share accounts. See Maine Revised Statutes Title 9-B Sec. 131
• Disposable earnings: means that part of the earnings of any individual remaining after the deduction from those earnings of any amount required by law to be withheld. See Maine Revised Statutes Title 19-A Sec. 2101
• Ex officio: Literally, by virtue of one's office.
• Executor: A male person named in a will to carry out the decedent
• Fiduciary: A trustee, executor, or administrator.
• Financial institution: means a universal bank or limited purpose bank organized under the provisions of this Title, and a trust company, nondepository trust company, savings bank, industrial bank or savings and loan association organized under the prior laws of this State. See Maine Revised Statutes Title 9-B Sec. 131
• 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}
• 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.
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Medical support: means an amount ordered to be paid toward the cost of health insurance provided by a public entity or by another parent through employment or otherwise or for other medical costs not covered by insurance. See Maine Revised Statutes Title 19-A Sec. 1501
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Nondepository trust company: means any financial institution organized under chapter 121 with powers generally limited to trust or fiduciary matters. See Maine Revised Statutes Title 9-B Sec. 131
• Notes: means any notes of the Maine Governmental Facilities Authority issued pursuant to this Act. See Maine Revised Statutes Title 4 Sec. 1603
• 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
• Officer: means an employee of a financial institution who has been given managerial or other high-level duties by the governing body of the financial institution. See Maine Revised Statutes Title 9-B Sec. 131
• 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, partnership, joint venture, trust, estate or unincorporated association. See Maine Revised Statutes Title 9-B Sec. 131
• Personal property: All property that is not real property.
• Private health insurance: means fee-for-service, health maintenance organization, preferred provider organization and other types of coverage available to either parent under which medical services could be provided to a child. See Maine Revised Statutes Title 19-A Sec. 1501
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Securities: means any bonds, notes or other evidences of indebtedness authorized by this Act. See Maine Revised Statutes Title 4 Sec. 1603
• 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
• Subsidiary: means a corporation, partnership, business trust, association or similar organization, all of which are referred to in this subsection as "another company" owned or controlled by a financial institution or financial institution holding company. See Maine Revised Statutes Title 9-B Sec. 131
• Superintendent: means the Superintendent of Financial Institutions. See Maine Revised Statutes Title 9-B Sec. 131
• Support order: means a judgment, decree or order, whether temporary, final or subject to modification, issued by a court or an administrative agency of competent jurisdiction for the support and maintenance of a child, including a child who has attained the age of majority under the law of the issuing state, or a child and the parent with whom the child is living, that provides for monetary support, health care, arrearages or reimbursement and may include related costs and fees, interest and penalties, income withholding, attorney's fees and other relief. See Maine Revised Statutes Title 19-A Sec. 2101
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Trustee: A person or institution holding and administering property in trust.