Maine Revised Statutes Title 5 Sec. 13119 – Definitions
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As used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1991, c. 368 (NEW).]
1. Local development corporation. “Local development corporation” means any nonprofit corporation organized by a city or town under Title 13, chapter 81 or Title 13?B.
[PL 1991, c. 368 (NEW).]
Terms Used In Maine Revised Statutes Title 5 Sec. 13119
- 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.
- Department: means the Department of Economic and Community Development. See Maine Revised Statutes Title 5 Sec. 13054
- Local development corporation: means any nonprofit corporation organized by a city or town under Title 13, chapter 81 or Title 13?B. See Maine Revised Statutes Title 5 Sec. 13119
- Municipality: means any city, town or local development corporation and any board, commission, agency or authority of any such city, town or local development corporation. See Maine Revised Statutes Title 5 Sec. 13119
- 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: means an individual, corporation, partnership, firm, organization or other legal entity. See Maine Revised Statutes Title 5 Sec. 13119
- Program of assistance: means any financial or technical assistance program established or authorized by the department or a municipality and providing assistance to persons for the improvement and development of housing, community and economic development opportunities. See Maine Revised Statutes Title 5 Sec. 13119
- Town: includes cities and plantations, unless otherwise expressed or implied. See Maine Revised Statutes Title 1 Sec. 72
2. Municipality. “Municipality” means any city, town or local development corporation and any board, commission, agency or authority of any such city, town or local development corporation.
[PL 1991, c. 368 (NEW).]
3. Person. “Person” means an individual, corporation, partnership, firm, organization or other legal entity.
[PL 1991, c. 368 (NEW).]
4. Program of assistance. “Program of assistance” means any financial or technical assistance program established or authorized by the department or a municipality and providing assistance to persons for the improvement and development of housing, community and economic development opportunities.
[PL 1991, c. 368 (NEW).]
SECTION HISTORY
PL 1991, c. 368 (NEW).