Maine Revised Statutes Title 10 Sec. 1399 – Civil liability
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1. Claim on bonds, deposits or letters of credit. The administrator may file a claim on behalf of any client or clients on the bonds, deposits or letters of credit described in section 1397, subsection 1 to recover the damages as a result of financial loss or damages by reason of the failure of an exchange facilitator to comply with this chapter.
[PL 2009, c. 61, §1 (NEW).]
Terms Used In Maine Revised Statutes Title 10 Sec. 1399
- Administrator: means the Superintendent of Consumer Credit Protection within the Department of Professional and Financial Regulation. See Maine Revised Statutes Title 10 Sec. 1395
- Client: means the taxpayer with whom the exchange facilitator enters into an agreement described in subsection 4, paragraph A. See Maine Revised Statutes Title 10 Sec. 1395
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Exchange facilitator: means a person that does any of the following:
A. See Maine Revised Statutes Title 10 Sec. 1395Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases. Person: means an individual, corporation, partnership, limited liability company, joint venture, association, joint stock company, trust or any other form of legal entity, including agents and employees of a person. See Maine Revised Statutes Title 10 Sec. 1395
2. Civil action. A person may bring a civil action in a court of competent jurisdiction against an exchange facilitator for any violation of this chapter.
[PL 2009, c. 61, §1 (NEW).]
SECTION HISTORY
PL 2009, c. 61, §1 (NEW).