Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
030 - BUREAU OF CONSUMER CREDIT PROTECTION
Chapter 601 - ESTABLISHMENT OF RULES TO IMPLEMENT 9-A M.R.S. ARTICLE 14 AND REQUIREMENT FOR LICENSING OF STUDENT LOAN SERVICERS THROUGH THE NATIONWIDE MULTISTATE LICENSING SYSTEM (NMLS)
Section 030-601-III - DEFINITIONS

A. "Bureau" means the Maine Bureau of Consumer Credit Protection.

B. "Change of control" means a change of 25% or more in the direct or indirect ownership of the applicant.

C. "Controlling person" means a person, wherever located in the chain of ownership of the applicant, who controls 25% or more of the ownership interests in the applicant.

D. "Exempt Person" has the meaning set forth in 9-A M.R.S. §§ 14-104(8) and 14-107(1).

E. "Nationwide Multistate Licensing System," herein referred to as "NMLS," means the nationwide multistate licensing system and registry for mortgage lender licensing and loan brokering referred to in 9-A M.R.S. § 13-102(8) as the "Nationwide Mortgage Licensing System."

F. "Nonconforming payment" has the meaning set forth in 9-A M.R.S. §14-108(1).

G. "Ombudsman" means the student loan ombudsman designated by the Superintendent pursuant to 9-A M.R.S. § 14-104.

H. "Person" includes a natural person (an individual), a corporation, an organization, and an association.

I. "Student education loan" has the meaning set forth in 9-A M.R.S. §14-103(3).

J. "Student loan servicer" has the meaning set forth in 9-A M.R.S. §14-103(4).

K. "Superintendent" means the Superintendent of the Maine Bureau of Consumer Credit Protection.