02-030 C.M.R. ch. 500, § III - DEFINITIONS

For purposes of this rule, the following terms have the meanings set forth:

1. "Credit-hour" means 50 minutes of actual instruction time or testing/examination time.

2. "Loan Broker" has the same meaning as that term is defined by 9-A M.R.S.A. §10-102(1).

3. "Loan officer" has the same meaning as that term is defined by 9-A M.R.S.A. §1-301(22-A).

4. "Person subject to this rule" means an individual seeking licensure as a supervised lender or loan broker, and those seeking registration as a loan officer. The term includes individuals doing business or intending to do business under their own name or under an assumed name, e.g., the owner/principal of an unincorporated sole proprietorship or partnership.

5. "Qualifying course" or "certified course" means an educational course approved by the OCCR pursuant to this rule.

6. "Supervised lender" has the same meaning as that term is defined in 9-A M.R.S.A. §1-301(39).

Notes

02-030 C.M.R. ch. 500, § III