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Maine Revised Statutes Title 10. Commerce and Trade § 1099-A. Definitions

Current as of January 01, 2025 | Updated by Findlaw Staff

As used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings.

1. Authority. “Authority” means the Finance Authority of Maine.

2. Effective interest rate. “Effective interest rate” means an annual percentage interest rate paid by the borrower.

3. Eligible entity. “Eligible entity” means any person, business, corporation, association, firm, partnership, municipality or other organization located in the State but does not include any agency of the State.

4. Fund. “Fund” means the Waste Oil Furnace Loan Fund established by this subchapter.

5. NFPA. “NFPA” means the National Fire Protection Association.

6. Program. “Program” means the Waste Oil Furnace Loan Program established by this subchapter.

7. Properly installed. “Properly installed” means a boiler or furnace installed in accordance with NFPA Standard 31 or subsequent NFPA installation standards adopted by the Maine Fuel Board.

8. Qualified boiler or furnace. “Qualified boiler or furnace” means any new or replacement boiler or furnace fueled wholly or in part by waste oil that produces energy for space heating or cooling or for use in a manufacturing process and is listed by the Maine Fuel Board as a waste oil boiler or furnace.

9. Waste oil. “Waste oil” means a petroleum-based oil that, through use or handling, has become unsuitable for its original purpose due to the presence of impurities or the loss of original properties. Waste oil includes, but is not limited to, the following:

A. Automotive crankcase and lubricating oils;

B. Industrial lubricating oils including metal working oils, railroad and marine oils and turbine lubricating oils;

C. Industrial nonlubricating oils including hydraulic, transmission, and quenching oils, and transformer oils with polychlorinated biphenyl concentrations less than 50 parts per million;

D. Oil recovered from oil tank cleaning operations and deballasting operations; and

E. Oil spilled on land or water.

Waste oil does not include oily waste debris generated during the cleanup of oil spills, water residue generated from oil and water separation processes at waste oil facilities or mineral spirits having a flash point less than 140° Fahrenheit.

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Cite this article: FindLaw.com - Maine Revised Statutes Title 10. Commerce and Trade § 1099-A. Definitions - last updated January 01, 2025 | https://codes.findlaw.com/me/title-10-commerce-and-trade/me-rev-st-tit-10-sect-1099-a/

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