Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
029 - BUREAU OF FINANCIAL INSTITUTIONS
Chapter 140 - STUDENT LOAN DISCLOSURES
- Section 029-140-I - AUTHORITY
- Section 029-140-II - PURPOSE
- Section 029-140-III - APPLICABILITY
- Section 029-140-IV - DEFINITIONS
- Section 029-140-V - REQUIREMENTS AND PROCEDURES FOR DISCLOSURE OF THE TERMS OF STUDENT LOANS RESULTING FROM AN ALLOCATION OF THE STATE CEILING
- Section 029-140-VI - ADVERTISING
- Section 029-140-VII - SANCTIONS AND ENFORCEMENT
STUDENT LOAN DISCLOSURES
SUMMARY: In 1999, the Maine Legislature enacted P.L. 1999, c. 443, "An Act to Provide for the 1999 and 2000 Allocations of the State Ceiling on Private Activity Bonds," effective June 9, 1999. Section 2 of the law amended 10 M.R.S.A. §363(8), entitled "Allocation for educational bonds," which applies to lenders or issuers of student loans resulting from an allocation of the state private activity bond ceiling. 10 M.R.S.A. §363(8)(A) authorizes the Bureau of Banking and the Office of Consumer Credit Regulation to promulgate a joint rule establishing uniform disclosure requirements for any such student loans, and further establishing sanctions for noncompliance.
Chapter is a Joint Rule with 02-030 245
