Terms Used In Maine Revised Statutes > Title 10 > Part 3 > Chapter 209-B - Fair Credit Reporting Act

• Administrator: means the administrator designated in Article VI, section 6?103. See Maine Revised Statutes Title 9-A Sec. 11-105
• Administrator: means the Superintendent of Consumer Credit Protection within the Department of Professional and Financial Regulation. See Maine Revised Statutes Title 10 Sec. 1308
• 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.
• Board of directors: means the governing body with statutory powers and duties for a school administrative district. See Maine Revised Statutes Title 20-A Sec. 1
• Cash price: means the price for which the merchant would sell the property to the consumer for cash on the date of the rental-purchase agreement. See Maine Revised Statutes Title 9-A Sec. 11-105
• Commissioner: means the Commissioner of Education or the commissioner's designee. See Maine Revised Statutes Title 20-A Sec. 1
• Consumer: means an individual who rents personal property under a rental-purchase agreement used primarily for personal, family or household purposes. See Maine Revised Statutes Title 9-A Sec. 11-105
• Consumer: means an individual about whom a consumer report or an investigative consumer report has been prepared by a consumer reporting agency or an office of a consumer reporting agency. See Maine Revised Statutes Title 10 Sec. 1308
• Consumer reporting agency: means a person that, for monetary fees, dues or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information or other information on consumers for the purpose of furnishing consumer reports or investigative consumer reports to 3rd parties. See Maine Revised Statutes Title 10 Sec. 1308
• Consummation: means the time at which a consumer becomes contractually obligated under a rental-purchase agreement for personal property used primarily for personal, family or household purposes. See Maine Revised Statutes Title 9-A Sec. 11-105
• 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}
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• 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}
• 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.
• Federal Fair Credit Reporting Act: means the Fair Credit Reporting Act, 15 United States Code § 1681 et seq. See Maine Revised Statutes Title 10 Sec. 1308
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• Merchant: means a person who regularly provides the use of property through rental-purchase agreements and to whom rental payments are initially payable on the face of the rental-purchase agreement. See Maine Revised Statutes Title 9-A Sec. 11-105
• merchant cost: means the bona fide actual cost, including freight charges, of the rental property paid by the merchant to a wholesaler, distributor, manufacturer or other provider, net of volume rebates, discounts or other incentives received by the merchant at the time the merchant purchased the item. See Maine Revised Statutes Title 9-A Sec. 11-105
• Periodic payment: means the total payment the consumer will make for a specific rental period, including the rental payment, any administrative fees or delivery charges, taxes and fees or charges for optional products and services. See Maine Revised Statutes Title 9-A Sec. 11-105
• Person subject to this chapter: means a person subject to the provisions of the federal Fair Credit Reporting Act and a consumer reporting agency. See Maine Revised Statutes Title 10 Sec. 1308
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• Proper identification: means that information generally considered sufficient to identify a person. See Maine Revised Statutes Title 10 Sec. 1308
• Protected consumer: means an individual who has not attained 16 years of age at the time a request for the placement of a security freeze is made. See Maine Revised Statutes Title 10 Sec. 1308
• Rental payment: means a payment to be made by a consumer for the right of possession and use of rental property for a specific rental period, but does not include taxes imposed on such payment. See Maine Revised Statutes Title 9-A Sec. 11-105
• Rental period: means a week, month or other specific period of time during which the consumer has a right to possess and use the property after making the rental payment and applicable tax payment for such period. See Maine Revised Statutes Title 9-A Sec. 11-105
• Rental-purchase agreement: means an agreement for the use of personal property by an individual primarily for personal, family or household purposes for an initial period of 4 months or less that is automatically renewable with each payment after the initial period and that permits the consumer to become the owner of the property, but does not obligate or require the consumer to continue renting or using the property beyond the initial period. See Maine Revised Statutes Title 9-A Sec. 11-105
• Representative: means a person who provides to a consumer reporting agency sufficient proof of authority to act on behalf of a protected consumer. See Maine Revised Statutes Title 10 Sec. 1308
• School board: means the governing body with statutory powers and duties for a school administrative unit. See Maine Revised Statutes Title 20-A Sec. 1
• Security freeze: means a notice placed in a consumer report at the request of the consumer pursuant to section 1310 that prohibits a consumer reporting agency from releasing the consumer report or any information in the report without that consumer's express authorization. See Maine Revised Statutes Title 10 Sec. 1308
• Security freeze for a protected consumer: means :