94- 457 C.M.R. ch. 303, § 1

Current through 2024-51, December 18, 2024
Section 457-303-1 - DEFINITIONS
A. Reference to Act Definitions. Certain terms used in this rule, which are defined in the Finance Authority of Maine Act, 10 MRSA §961 and following (the Act), shall have the meanings set forth in the Act, unless clearly specified otherwise or unless the context clearly indicates otherwise.
B. Defined Terms.
1. "Borrower" means a person or entity which meets the eligibility requirements set forth in Section 2 of this rule, and includes a prospective borrower where the context requires.
2. "Chief executive officer" means the Authority's chief executive officer or a person acting under the supervisory control of the chief executive officer.
3. "Lender" means any bank, trust company, national banking association, federal savings and loan association, industrial bank, mortgage company, insurance company, credit union, local development corporation, or any other institution or entity authorized to do business in this State, or any state or Federal agency which customarily provides financing assistance.
4. "Program" means the Maine Natural Disaster Business Assistance Program governed by the Act and this rule.

94- 457 C.M.R. ch. 303, § 1