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)
Section 030-710-III - DEFINITIONS
Current through 2024-38, September 18, 2024
For the purposes of this Chapter, the following terms have the stated meanings.
A. "Administrator" means the Superintendent of the Bureau of Consumer Credit Protection.
B. "Bureau" means the Maine Bureau of Consumer Credit Protection.
C. "Full-service payroll processor license" means a license to prepare and issue payroll checks; to prepare and file state or federal income withholding tax reports and unemployment insurance compensation reports; and to collect, hold, and turn over to the State Tax Assessor or to federal tax authorities income withholding taxes or unemployment insurance contributions.
D. "Limited payroll processor license" means a license to prepare and issue payroll checks and to prepare and file state or federal income withholding tax reports and unemployment insurance compensation reports. It does not permit the licensee to collect, hold, or turn over to the State Tax Assessor or to federal tax authorities income withholding taxes or unemployment insurance contributions.
E. "Nationwide Multistate Licensing System," herein referred to as "NMLS," means the nationwide multistate licensing system and registry operated by the Conference of State Bank Supervisors.
F. "Restricted payroll processor license" means a license permitting a payroll processor to prepare and file state or federal income withholding tax reports and unemployment insurance compensation reports, but it does not permit the licensee to collect, hold, or turn over to the State Tax Assessor or to federal tax authorities income withholding taxes or unemployment insurance contributions or to issue payroll checks.
