Maine Revised Statutes > Title 13-C > Chapter 18 > Subchapter 3 – Accountability
Current as of: 2023 | Check for updates
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Other versions
| § 1821 | Standard of conduct for directors |
| § 1822 | Benefit director |
| § 1823 | Standard of conduct for officers |
| § 1824 | Benefit officer |
| § 1825 | Right of action |
Terms Used In Maine Revised Statutes > Title 13-C > Chapter 18 > Subchapter 3 - Accountability
- Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Benefit corporation: means a corporation:
A. See Maine Revised Statutes Title 13-C Sec. 1802Benefit director: means the director designated as the benefit director of a benefit corporation under section 1822. See Maine Revised Statutes Title 13-C Sec. 1802 Benefit enforcement proceeding: means a claim or action or proceeding for:
A. See Maine Revised Statutes Title 13-C Sec. 1802Benefit officer: means the individual designated as the benefit officer of a benefit corporation under section 1824. See Maine Revised Statutes Title 13-C Sec. 1802 Commissioner: means the Commissioner of Health and Human Services. See Maine Revised Statutes Title 22 Sec. 1-A 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. Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. Department: means the Department of Health and Human Services. See Maine Revised Statutes Title 22 Sec. 1-A Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC General public benefit: means a material positive impact on society and the environment, taken as a whole, assessed against a 3rd-party standard, from the business and operations of a benefit corporation. See Maine Revised Statutes Title 13-C Sec. 1802 in writing: include printing and other modes of making legible words. See Maine Revised Statutes Title 1 Sec. 72 Independent: means having no material relationship with a benefit corporation or a subsidiary of the benefit corporation, except that serving as benefit director or benefit officer does not make an individual not independent. See Maine Revised Statutes Title 13-C Sec. 1802 Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Lien: A claim against real or personal property in satisfaction of a debt. Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. Obligor: means an individual who receives an overpayment or an adult individual who is a member of an assistance unit that receives an overpayment. See Maine Revised Statutes Title 22 Sec. 3811 Overpayment: means program benefits that exceed the amount of program benefits for which an individual or assistance unit is eligible when the department or a court has determined that the benefits were provided as a result of an intentional program violation, an unintentional error by the individual or household or an error by the department. See Maine Revised Statutes Title 22 Sec. 3811 Real estate: includes lands and all tenements and hereditaments connected therewith, and all rights thereto and interests therein. See Maine Revised Statutes Title 1 Sec. 72 Specific public benefit: means any particular benefit to society or the environment, including without limitation:
A. See Maine Revised Statutes Title 13-C Sec. 1802Subsidiary: means , in relation to a person, an entity in which the person owns beneficially or of record 50% or more of the outstanding equity interests, calculated as if all outstanding rights to acquire equity interests in the entity had been exercised. See Maine Revised Statutes Title 13-C Sec. 1802 Trustee: A person or institution holding and administering property in trust.