Terms Used In Maine Revised Statutes Title 9-A Sec. 11-122

• Consumer: means an individual who rents personal property under a rental-purchase agreement used primarily for personal, family or household purposes. See Maine Revised Statutes Title 9-A Sec. 11-105
• 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.
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Merchant: means a person who regularly provides the use of property through rental-purchase agreements and to whom rental payments are initially payable on the face of the rental-purchase agreement. See Maine Revised Statutes Title 9-A Sec. 11-105
• National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) ^{Source: OCC}
• Rental-purchase agreement: means an agreement for the use of personal property by an individual primarily for personal, family or household purposes for an initial period of 4 months or less that is automatically renewable with each payment after the initial period and that permits the consumer to become the owner of the property, but does not obligate or require the consumer to continue renting or using the property beyond the initial period. See Maine Revised Statutes Title 9-A Sec. 11-105
• United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72