Terms Used In Maine Revised Statutes Title 31 Sec. 1091

• 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}
• Business: includes every trade, occupation and profession. See Maine Revised Statutes Title 31 Sec. 1001
• 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.
• Corporation: means a corporation created under the Maine Business Corporation Act, predecessor law or comparable law of another jurisdiction. See Maine Revised Statutes Title 31 Sec. 1091
• General partner: means a partner in a partnership, a general partner in a limited partnership, a general partner in a limited liability partnership and a general partner in a limited liability limited partnership. See Maine Revised Statutes Title 31 Sec. 1091
• Jurisdiction: (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.
• Limited liability company: means a limited liability company created under the Maine Limited Liability Company Act, predecessor law or comparable law of another jurisdiction. See Maine Revised Statutes Title 31 Sec. 1091
• Limited liability limited partnership: means a limited partnership whose certificate of limited partnership states that the limited partnership is a limited liability limited partnership. See Maine Revised Statutes Title 31 Sec. 1091
• Limited liability partnership: means a partnership that has registered as a limited liability partnership pursuant to section 821 and does not have a similar statement in effect in any other jurisdiction. See Maine Revised Statutes Title 31 Sec. 1001
• Limited partner: means a limited partner in a limited partnership and a limited partner in a limited liability partnership. See Maine Revised Statutes Title 31 Sec. 1091
• Limited partnership: means a limited partnership created under the Uniform Limited Partnership Act, predecessor law or comparable law of another jurisdiction. See Maine Revised Statutes Title 31 Sec. 1091
• Member: means a person reflected in the required records of a limited liability company as the owner of some governance rights of a membership interest in the limited liability company. See Maine Revised Statutes Title 31 Sec. 1091
• Partner: includes both a general partner and a limited partner. See Maine Revised Statutes Title 31 Sec. 1091
• 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.
• Partnership: means a partnership formed under section 1022 or any predecessor law. See Maine Revised Statutes Title 31 Sec. 1091
• Person: means an individual, corporation, limited liability company, business trust, estate, trust, partnership, association, joint venture, government, governmental subdivision, agency or instrumentality or any other legal or commercial entity. See Maine Revised Statutes Title 31 Sec. 1001
• Shareholder: means the person in whose name the units into which proprietary interests in a corporation are divided are registered in the records of the corporation or the beneficiary owner of such units to the extent of the rights granted by a nominee certificate on file with a corporation. See Maine Revised Statutes Title 31 Sec. 1091