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-II - PURPOSE

The purpose of this chapter is to permit the State of Maine to use NMLS for licensing of all money transmitters. Use of the system will provide improved oversight over the activities of the companies and will simplify recordkeeping and standardize processes for all money transmitters licensed in Maine. This chapter does not modify the standards for licensing or the applicability of the provisions of the Maine Money Transmitters Act, but rather sets forth the licensing requirements to be utilized henceforth by the Bureau.