Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
030 - BUREAU OF CONSUMER CREDIT PROTECTION
Chapter 710 - ESTABLISHMENT OF LICENSE AND RENEWAL FEES AND APPLICATION REQUIREMENTS FOR MAINE'S PAYROLL PROCESSOR LICENSING AND REQUIREMENT FOR LICENSING THROUGH THE NATIONWIDE MULTISTATE LICENSING SYSTEM (NMLS)

SUMMARY

This Chapter makes the modifications necessary to transition licensing of all payroll processors currently licensed by the State of Maine to a multi-state system administered by the Nationwide Multistate Licensing System (NMLS). As authorized by law, this Chapter eliminates the current January 31 licensing date, substituting an annual license effective from January 1 through December 31 of each year; and sets application and renewal fees and application requirements for payroll processors. The rule permits currently licensed payroll processors to transition as renewals onto the system for a limited period of time starting November 1, 2023 and permits applicants for new licenses to apply through the NMLS as of August 1, 2023.

STATUTORY AUTHORITY: 10 M.R.S. §1495-D(1-A)