Sections
Part 1 General Provisions 9-101
Part 2 Licensing 9-201
Part 3 Regulation of Agreements and Practices 9-301 – 9-315
Part 4 Remedies and Penalties 9-401 – 9-408
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Terms Used In Maine Revised Statutes > Title 9-A > Article 9 - Consumer Credit Transactions Made to Acquire Real Estate or Secured by First-Lien Mortgages

  • Amortization: Paying off a loan by regular installments.
  • Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. Source: FDIC
  • Anything of value: means , but is not limited to:
A. See Maine Revised Statutes Title 3 Sec. 312-A
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Arrest: Taking physical custody of a person by lawful authority.
  • Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
  • Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
  • Campaign contribution: is a contribution, as defined in Title 21?A, section 1012, subsection 2. See Maine Revised Statutes Title 3 Sec. 312-A
  • Campaign fund raising activity: means any event or solicitation by letter or any other means that is held for the purpose of receiving contributions for a political party, political committee, political action committee, candidate for political office in any primary or election, any elected official or a referendum committee. See Maine Revised Statutes Title 3 Sec. 312-A
  • Caucus: From the Algonquian Indian language, a caucus meant "to meet together." An informal organization of members of the legislature that exists to discuss issues of mutual concern and possibly to perform legislative research and policy planning for its members. There are regional, political or ideological, ethnic, and economic-based caucuses.
  • Commission: means the Commission on Governmental Ethics and Election Practices as defined in Title 1, chapter 25. See Maine Revised Statutes Title 3 Sec. 312-A
  • Committee: means any committee, subcommittee, joint or select committee of the Legislature or any special committee or commission, by whatever name, established by the Legislature to make recommendations for legislative action or to develop legislation. See Maine Revised Statutes Title 3 Sec. 312-A
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Communicate: means the act of expressing, imparting or conveying information or impressions from one person to another, by either oral or written means. See Maine Revised Statutes Title 3 Sec. 312-A
  • Compensation: means anything of value that is received or to be received in return for, or in connection with, services rendered or to be rendered. See Maine Revised Statutes Title 3 Sec. 312-A
  • county commissioners: means the county commissioners of York County and "county" means York County. See Maine Revised Statutes Title 30-A Sec. 831
  • County commissioners: means the elected county commissioners of Piscataquis County. See Maine Revised Statutes Title 30-A Sec. 822
  • County legislative delegation: means all state legislators whose legislative districts, in whole or in part, lie within the boundaries of a county. See Maine Revised Statutes Title 30-A Sec. 1
  • Covered official: means an official in the executive branch, an official in the legislative branch, a constitutional officer, the Governor and the Governor's cabinet and staff. See Maine Revised Statutes Title 3 Sec. 312-A
  • Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Department: means the Department of Health and Human Services and its agents and authorized representatives. See Maine Revised Statutes Title 19-A Sec. 101
  • Docket: A log containing brief entries of court proceedings.
  • Domestic partner: means one of 2 unmarried adults who are domiciled together under long-term arrangements that evidence a commitment to remain responsible indefinitely for each other's welfare. See Maine Revised Statutes Title 1 Sec. 72
  • Employer: means a person who agrees to reimburse for expenditures or to compensate a person who in return agrees to provide services. See Maine Revised Statutes Title 3 Sec. 312-A
  • Employment: means an agreement to provide services in exchange for compensation or reimbursement of expenditures. See Maine Revised Statutes Title 3 Sec. 312-A
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Expenditure: means anything of value or any contract, promise or agreement to transfer anything of value, whether or not legally enforceable. See Maine Revised Statutes Title 3 Sec. 312-A
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • 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
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Grassroots lobbying: means to communicate with members of the general public to solicit them to communicate directly with any covered official for the purpose of influencing legislative action, other than legislation that is before the Legislature as a result of a direct initiative in accordance with the Constitution of Maine, Article IV, Part Third, Section 18, when that solicitation is made by:
    • A. See Maine Revised Statutes Title 3 Sec. 312-A
  • Immediate family: means a person's spouse or domestic partner and dependent children. See Maine Revised Statutes Title 3 Sec. 312-A
  • Inhabitant: means a person having an established residence in a place. See Maine Revised Statutes Title 1 Sec. 72
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Legislative action: means the drafting, introduction, consideration, modification, enactment or defeat of any bill, resolution, amendment, report, nomination or other matter by the Legislature, by either the House of Representatives or the Senate, any committee or an official in the Legislative Branch acting in the official's official capacity, or action of the Governor in approving or vetoing any legislative document presented to the Governor for the Governor's approval. See Maine Revised Statutes Title 3 Sec. 312-A
  • Legislative designee: means any employee of a state department or agency who is designated by the head of the department or agency as the primary employee to lobby on behalf of the department or agency or who is reasonably expected to lobby on behalf of the department or agency for more than 10 hours during a legislative session. See Maine Revised Statutes Title 3 Sec. 312-A
  • Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
  • Licensed camping facility: means a recreational camp, youth camp or camping area licensed under Title 22, section 2495. See Maine Revised Statutes Title 12 Sec. 9001-A
  • Lobbying: includes the time spent to prepare and submit to the Governor, an official in the legislative branch, an official in the executive branch, a constitutional officer or a legislative committee oral and written proposals for, or testimony or analyses concerning, a legislative action. See Maine Revised Statutes Title 3 Sec. 312-A
  • Lobbying firm: means a partnership, corporation, limited liability company or unincorporated association that employs or contracts with more than one lobbyist or lobbyist associate and that receives or is entitled to receive compensation for engaging in lobbying either directly or through its employees. See Maine Revised Statutes Title 3 Sec. 312-A
  • Lobbyist: means any person who is specifically employed by another person for the purpose of and who engages in lobbying in excess of 8 hours in any calendar month, or any individual who, as a regular employee of another person, expends an amount of time in excess of 8 hours in any calendar month in lobbying. See Maine Revised Statutes Title 3 Sec. 312-A
  • Lobbyist associate: means an individual who:
    • A. See Maine Revised Statutes Title 3 Sec. 312-A
  • major policy-influencing position: means those positions listed in Title 5, chapter 71 and officers or employees of departments and agencies listed in section 959 and in Title 5, chapter 71 who have policy development as a major function of their positions. See Maine Revised Statutes Title 3 Sec. 312-A
  • Media outlet: means a radio or television station, a cable television system, newspapers, magazines and other published written materials. See Maine Revised Statutes Title 3 Sec. 312-A
  • Minority: when used in reference to age shall mean under the age of 18. See Maine Revised Statutes Title 1 Sec. 72
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Municipality: includes cities, towns and plantations, except that "municipality" does not include plantations in Title 10, chapter 110, subchapter IV; or Title 30?A, Part 2. See Maine Revised Statutes Title 1 Sec. 72
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • 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
  • Oath: A promise to tell the truth.
  • Oath: includes an affirmation, when affirmation is allowed. See Maine Revised Statutes Title 1 Sec. 72
  • Official in the executive branch: means an individual in a major policy-influencing position in a department or agency listed in section 959 or in Title 5, chapter 71 and the Governor's cabinet and staff. See Maine Revised Statutes Title 3 Sec. 312-A
  • Official in the Legislative Branch: means a member, member-elect, candidate for or officer of the Legislature or an employee of the Legislature. See Maine Revised Statutes Title 3 Sec. 312-A
  • Original source: means any person who pays $1,000 or more in any lobbying year directly or indirectly to any employer of a lobbyist for purposes of lobbying or grassroots lobbying or to any other person for purposes of grassroots lobbying, except that payments of membership dues to nonprofit corporations formed under Title 13?B, under any equivalent state law or by legislative enactment are not considered payments by an original source. See Maine Revised Statutes Title 3 Sec. 312-A
  • Person: means an individual, corporation, proprietorship, joint stock company, business trust, syndicate, association, professional association, labor union, firm, partnership, club or other organization, whether profit or nonprofit, or any municipality or quasi-municipality or group of persons acting in concert, but does not include this State or any other agency of this State. See Maine Revised Statutes Title 3 Sec. 312-A
  • Person: means an individual, trust, estate, partnership, association, company, corporation, political subdivision of the State, instrumentality of the State or other entity. See Maine Revised Statutes Title 19-A Sec. 101
  • Political Action Committee: includes :
    • A. See Maine Revised Statutes Title 3 Sec. 312-A
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Probate: Proving a will
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • 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
  • registered mail: when used in connection with any requirement for notice by mail shall mean either registered mail or certified mail. See Maine Revised Statutes Title 1 Sec. 72
  • Reimbursement: means anything of value received or to be received as repayment for expenditures. See Maine Revised Statutes Title 3 Sec. 312-A
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Solicit: means to entreat, implore, urge or ask. See Maine Revised Statutes Title 3 Sec. 312-A
  • state: means any state, territory or possession of the United States, the Commonwealth of Puerto Rico and the District of Columbia. See Maine Revised Statutes Title 19-A Sec. 101
  • State employee or state agency employee: means employees of the executive branch, the judicial branch, the Department of the Attorney General, the Department of Secretary of State, the Department of the Treasurer and any employee who directly or indirectly represents an entity listed in Title 5, chapter 379. See Maine Revised Statutes Title 3 Sec. 312-A
  • State paper: means the newspaper designated by the Legislature, in which advertisements and notices are required to be published. See Maine Revised Statutes Title 1 Sec. 72
  • Subpoena: A command to a witness to appear and give testimony.
  • Summons: Another word for subpoena used by the criminal justice system.
  • Testify: Answer questions in court.
  • Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.
  • Year: means a 12-month period starting December 1st and ending the following November 30th. See Maine Revised Statutes Title 3 Sec. 312-A