Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
030 - BUREAU OF CONSUMER CREDIT PROTECTION
Chapter 709 - ESTABLISHMENT OF LICENSE AND RENEWAL FEES AND APPLICATION REQUIREMENTS FOR MAINE'S MONEY TRANSMITTER LICENSING AND REQUIREMENT FOR LICENSING THROUGH THE NATIONWIDE MULTISTATE LICENSING SYSTEM (NMLS)

SUMMARY

This chapter makes the modifications necessary to transition licensing of all money transmitters currently licensed by the State of Maine to a multistate system administered by the Nationwide Multistate Licensing System (NMLS). This chapter establishes an annual license effective from January 1 through December 31 of each year It sets application and renewal fees and application requirements for money transmitters. This chapter requires applicants for new licenses to apply through the NMLS as of the effective date of this rule and requires money transmitter currently licensed in Maine not currently using NMLS for licensing to transition to NMLS.

STATUTORY AUTHORITY: 32 M.R.S. §6103(4)