Maine Revised Statutes Title 10 Sec. 1242 – Definitions
[PL 1997, c. 473, §3 (NEW).]
Terms Used In Maine Revised Statutes Title 10 Sec. 1242
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Designated family member: means the spouse, child, grandchild, parent or sibling of the owner of a new personal sports mobile dealership who in the case of the owner's death is entitled to inherit the ownership interest in the new personal sports mobile dealership under the terms of the owner's will or who in the case of an incapacitated owner of a new personal sports mobile dealership has been appointed by a court as the legal representative of the new personal sports mobile dealer's property. See Maine Revised Statutes Title 10 Sec. 1242
- Distributor branch: means a branch office maintained by a distributor or wholesaler that sells or distributes new or used personal sports mobiles to personal sports mobile dealers. See Maine Revised Statutes Title 10 Sec. 1242
- Distributor representative: means a representative employed by a distributor branch, distributor or wholesaler. See Maine Revised Statutes Title 10 Sec. 1242
- Factory branch: means a branch maintained by a manufacturer that manufactures or assembles personal sports mobiles for sale to distributors or personal sports mobile dealers or that is maintained for directing and supervising the representatives of the manufacturer. See Maine Revised Statutes Title 10 Sec. 1242
- Factory representative: means a representative employed by a manufacturer or employed by a factory branch for the purpose of making or promoting the sale of personal sports mobiles or for contracting with, supervising, servicing or instructing personal sports mobile dealers or prospective personal sports mobile dealers. See Maine Revised Statutes Title 10 Sec. 1242
- Franchisee: means a personal sports mobile dealer to whom a franchise is offered or granted. See Maine Revised Statutes Title 10 Sec. 1242
- Franchisor: means a manufacturer, distributor or wholesaler who grants a franchise to a personal sports mobile dealer. See Maine Revised Statutes Title 10 Sec. 1242
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Good faith: means honesty in fact and the observation of reasonable commercial standards of fair dealing in the trade. See Maine Revised Statutes Title 10 Sec. 1242
- Majority: when used in reference to age shall mean the age of 18 and over. See Maine Revised Statutes Title 1 Sec. 72
- manufacturer: includes the terms "franchisor" "distributor" "distributor branch" "wholesaler" "factory branch" and "factory representative. See Maine Revised Statutes Title 10 Sec. 1242
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- New personal sports mobile: means a personal sports mobile that has not been sold previously to any person except a distributor or wholesaler or personal sports mobile dealer for resale. See Maine Revised Statutes Title 10 Sec. 1242
- 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: includes any other entity in which the person has a majority interest or effectively controls, as well as the individual officers, directors and other persons in active control of the activities of each such entity. See Maine Revised Statutes Title 10 Sec. 1242
- Personal sports mobile: means any snowmobile as defined in Title 12, section 13001, subsection 25; any all-terrain vehicle as defined in Title 12, section 13001, subsection 3; any motorcycle as defined in Title 29?A, section 101, subsection 38; and any personal watercraft as defined in Title 12, section 13001, subsection 23. See Maine Revised Statutes Title 10 Sec. 1242
- Personal sports mobile dealer: means any person who sells or solicits or advertises the sale of new or used personal sports mobiles. See Maine Revised Statutes Title 10 Sec. 1242
- Sale: means the issuance, transfer, agreement for transfer, exchange, pledge, hypothecation or mortgage in any form, whether by transfer in trust or otherwise, of any personal sports mobile or interest in a personal sports mobile or of any franchise related to a personal sports mobile; and any option, subscription or other contract or solicitation looking to a sale, or any offer or attempt to sell in any form, whether spoken or written. See Maine Revised Statutes Title 10 Sec. 1242
- wholesaler: means any person that sells or distributes new or used personal sports mobiles to personal sports mobile dealers or that maintains distributor representatives within this State. See Maine Revised Statutes Title 10 Sec. 1242
[PL 1997, c. 473, §3 (NEW).]
[PL 1997, c. 473, §3 (NEW).]
[PL 1997, c. 473, §3 (NEW).]
[PL 1997, c. 473, §3 (NEW).]
[PL 1997, c. 473, §3 (NEW).]
[PL 1997, c. 473, §3 (NEW).]
[PL 1997, c. 473, §3 (NEW).]
[PL 1997, c. 473, §3 (NEW).]
[PL 1997, c. 473, §3 (NEW).]
[PL 2021, c. 676, Pt. A, §17 (AMD).]
[PL 1997, c. 473, §3 (NEW).]
[PL 2001, c. 616, §1 (AMD).]
[PL 1997, c. 473, §3 (NEW).]
[PL 2003, c. 414, Pt. B, §19 (AMD); PL 2003, c. 614, §9 (AFF).]
[PL 1997, c. 473, §3 (NEW).]
[PL 1997, c. 473, §3 (NEW).]