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United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 18-C, § 6-301: Definitions, 2017

This section defines terms used in the Part, including “beneficiary form,” “register,” “registering entity,” “security,” and “security account.”

Source excerpt

account registrationbeneficiary designationssecurity ownership
Jurisdiction
United States — Maine
Structure
1 provisions
Official identity
Year 2017
Dates
Enacted 2017 · Source version 1 Oct 2025
More statute details
Dates
Enacted 2017 · Source version 1 Oct 2025
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“This section defines terms used in the Part, including “beneficiary form,” “register,” “registering entity,” “security,” and “security account.””

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Definitions

This section defines terms used in the Part, including “beneficiary form,” “register,” “registering entity,” “security,” and “security account.”

Section 6-301

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Source record from legislature.maine.gov · Enacted 2017 · Source version 1 Oct 2025

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Interpretation

Part 3

part 3 TRANSFER ON DEATH SECURITY REGISTRATION

§ 6-301DefinitionsInterpretation

Source excerpt

This section defines terms used in the Part, including “beneficiary form,” “register,” “registering entity,” “security,” and “security account.”

As used in this Part, unless the context otherwise indicates, the following terms have the following meanings. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 1. Beneficiary form. "Beneficiary form" means a registration of a security that indicates the present owner of the security and the intention of the owner regarding the person who will become the owner of the security upon the death of the owner. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 2. Register. "Register" means to issue a certificate showing the ownership of a certificated security or, in the case of an uncertificated security, to initiate or transfer an account showing ownership of securities. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 3. Registering entity. "Registering entity" means a person that originates or transfers a security title by registration and includes a broker maintaining security accounts for customers and a transfer agent or other person acting for or as an issuer of securities. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 4. Security. "Security" means a share, participation or other interest in property, in a business or in an obligation of an enterprise or other issuer and includes a certificated security, an uncertificated security and a security account. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 5. Security account. "Security account" means: A. A reinvestment account associated with a security, a securities account with a broker, a cash balance in a brokerage account, cash, interest, earnings or dividends earned or declared on a security in an account, a reinvestment account or a brokerage account, whether or not credited to the account before the owner's death; or [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] B. A cash balance or other property held for or due to the owner of a security as a replacement for or product of an account security, whether or not credited to the account before the owner's death. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
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  • 1 Oct 2025 · currentEnglish

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