Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
030 - BUREAU OF CONSUMER CREDIT PROTECTION
Chapter 715 - ESTABLISHMENT OF REGISTRATION AND RENEWAL FEES AND REGISTRATION REQUIREMENTS FOR MAINE RESIDENTIAL REAL ESTATE SETTLEMENT AGENCY REGISTRATION AND REQUIREMENT FOR REGISTRATION THROUGH THE NATIONWIDE MULTISTATE LICENSING SYSTEM (NMLS)
Section 030-715-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 the Superintendent of the Bureau of Consumer Credit Protection.
2. "Bureau" means the Maine Bureau of Consumer Credit Protection.
3. "Controlling Person" means an individual or entity, wherever located in the chain of ownership of the applicant, who controls more than 25% of the ownership interests in the applicant.
4. "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").
5. "Settlement agency" means an entity as defined in 10 M.R.S. §1400-A(3).
