Maine Revised Statutes Title 10 Sec. 371 – Definitions
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As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1987, c. 817, §2 (NEW).]
1. Board. “Board” means the Kim Wallace Adaptive Equipment Loan Program Fund Board.
[PL 1999, c. 731, Pt. FF, §3 (AMD).]
Terms Used In Maine Revised Statutes Title 10 Sec. 371
- Board: means the Kim Wallace Adaptive Equipment Loan Program Fund Board. See Maine Revised Statutes Title 10 Sec. 371
- 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.
- 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.
- Qualifying borrower: means any individual, for-profit or nonprofit corporation or partnership which demonstrates that the loan will assist one or more persons with disabilities to improve their independence or become more productive members of the community. See Maine Revised Statutes Title 10 Sec. 371
2. Fund. “Fund” means the Kim Wallace Adaptive Equipment Loan Program Fund.
[PL 1999, c. 731, Pt. FF, §3 (AMD).]
3. Qualifying borrower. “Qualifying borrower” means any individual, for-profit or nonprofit corporation or partnership which demonstrates that the loan will assist one or more persons with disabilities to improve their independence or become more productive members of the community. The individual, corporation or partnership must demonstrate credit worthiness and repayment abilities to the satisfaction of the board.
[PL 1989, c. 191, §1 (AMD).]
SECTION HISTORY
PL 1987, c. 817, §2 (NEW). PL 1989, c. 191, §1 (AMD). PL 1999, c. 731, §FF3 (AMD).