Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
030 - BUREAU OF CONSUMER CREDIT PROTECTION
Chapter 713 - ESTABLISHMENT OF REGISTRATION AND RENEWAL FEES AND APPLICATION REQUIREMENTS FOR MAINE'S GUARANTEED ASSET PROTECTION WAIVER ADMINISTRATORS AND REQUIREMENT FOR REGISTRATION THROUGH THE NATIONWIDE MULTISTATE LICENSING SYSTEM (NMLS)
Section 030-713-III - DEFINITIONS
Current through 2024-38, September 18, 2024
For the purpose of this Chapter, the following terms have the following meanings
1. "Administrator" means a person, other than an insurer or creditor, that performs administrative or operational functions pursuant to a guaranteed asset protection waiver program.
2. "Bureau" means the Maine Bureau of Consumer Credit Protection.
3. "Controlling person" means an individual or entity having ownership interest of 25% or more in the applicant or an entity of which the applicant is a subsidiary.
4. "Guaranteed Asset Protection Waiver Administrator" means an entity as defined in 10 M.R.S. § 1500-H(1)(A).
5. "Nationwide Multistate Licensing System," herein referred to as "NMLS," means the nationwide multistate licensing system and registry for mortgage lender licensing and loan brokering referred to in 9-A M.R.S. §13-102(8) (previously, the "Nationwide Mortgage Licensing System").
6. "Superintendent" means the Superintendent of Consumer Credit Protection.
