10 §1391. Definitions
Title 10: COMMERCE AND TRADE
Part 3: REGULATION OF TRADE
Chapter 212-B: CONSUMER ARBITRATION AGREEMENTS
§1391. Definitions
As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [2007, c. 250, §1 (NEW).]
1. Administrator.
[ 2009, c. 572, §1 (RP) .]
2. Consumer. "Consumer" means an individual who uses, purchases, acquires, attempts to purchase or acquire or is offered or furnished goods or services, other than insurance, for personal, family or household purposes.
[ 2009, c. 572, §2 (AMD) .]
3. Consumer arbitration. "Consumer arbitration" means binding arbitration under a consumer arbitration agreement in which a party to the arbitration is a consumer.
[ 2007, c. 250, §1 (NEW) .]
4. Consumer arbitration agreement. "Consumer arbitration agreement" means a standard contract with a consumer concerning the use of, purchase of, acquisition of, attempt to purchase or acquire, offer of or furnishing of goods or services, other than insurance, for personal, family or household purposes.
[ 2009, c. 572, §3 (AMD) .]
4-A. Financial interest. "Financial interest" means holding a position in a business as an officer, director, trustee, member or partner or any position in management or ownership of more than 5% interest in the business.
[ 2009, c. 572, §4 (NEW) .]
5. Provider. "Provider" means a person that provides consumer arbitration or services related to consumer arbitration.
[ 2007, c. 250, §1 (NEW) .]
SECTION HISTORY
2007, c. 250, §1 (NEW). 2007, c. 273, Pt. B, §6 (REV). 2009, c. 572, §§1-4 (AMD).