Terms Used In Maine Revised Statutes Title 5 Sec. 13119

• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Department: means the Department of Economic and Community Development. See Maine Revised Statutes Title 5 Sec. 13054
• Local development corporation: means any nonprofit corporation organized by a city or town under Title 13, chapter 81 or Title 13?B. See Maine Revised Statutes Title 5 Sec. 13119
• Municipality: means any city, town or local development corporation and any board, commission, agency or authority of any such city, town or local development corporation. See Maine Revised Statutes Title 5 Sec. 13119
• 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, corporation, partnership, firm, organization or other legal entity. See Maine Revised Statutes Title 5 Sec. 13119
• Program of assistance: means any financial or technical assistance program established or authorized by the department or a municipality and providing assistance to persons for the improvement and development of housing, community and economic development opportunities. See Maine Revised Statutes Title 5 Sec. 13119
• Town: includes cities and plantations, unless otherwise expressed or implied. See Maine Revised Statutes Title 1 Sec. 72