Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
030 - BUREAU OF CONSUMER CREDIT PROTECTION
Chapter 705 - ESTABLISHMENT OF LICENSE AND RENEWAL FEES AND APPLICATION REQUIREMENTS FOR MAINE'S DEBT COLLECTOR LICENSING AND REQUIREMENT FOR LICENSING THROUGH THE NATIONWIDE MULTISTATE LICENSING SYSTEM (NMLS)

SUMMARY

This chapter makes the modifications necessary to transition licensing of all debt collectors currently licensed by the State of Maine to a multistate system administered by the Nationwide Multistate Licensing System (NMLS). The chapter converts the two-year license for debt collectors to a one-year license and eliminates the current July 31 licensing expiration date, substituting an annual license effective from January 1 through December 31 of each year. It sets application and renewal fees and application requirements for debt collectors. The chapter extends current licenses scheduled to expire on July 31, 2023 through December 31, 2023 and permits applicants for new licenses to apply through NMLS as of the effective date of this rule.

STATUTORY AUTHORITY: 32 M.R.S. §11031(2)