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)
Section 030-709-I - AUTHORITY

Pursuant to 32 M.R.S. §6103(4)(B), the Administrator may establish, by rule, fees to apply for or renew money transmitter licenses, except that the fee for an initial application may not exceed $1,200.00 and the fee for a renewal may not exceed $1,000,00 for any licensed location. Renewal applications received after the license expiration date are subject to a late fee of $100.00.

Title 32 M.R.S. §6103(3) and (4) authorize the Administrator to establish routine technical rules to move money transmitter licensing to the Nationwide Multistate Licensing System (NMLS), including rules authorizing NMLS to collect fees and remit those fees to the Bureau; authorizing collection of fees by the NMLS for its processing costs; authorizing NMLS to process and maintain license records; and authorizing the use of NMLS uniform forms.

Title 32 M.R.S. §6103(4) authorizes the Administrator to establish routine technical rules to establish fees for the initial licensing and renewal licensing of money transmitters and to establish application requirements.