02-030 C.M.R. ch. 707, § III - DEFINITIONS

For the purpose of this Chapter, the following terms have the following meanings:

A. "Administrator" means the Superintendent of the Maine Bureau of Consumer Credit Protection.

B. "Bureau" means the Maine Bureau of Consumer Credit Protection.

C. "Change of control" means a change in the direct or indirect ownership of the licensee of 25% or more.

D. "Consumer Report" means any written, oral, or other communication of any information by a consumer reporting agency bearing on a consumer's credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living which is used or expected to be used or collected in whole or in part for the purpose of serving as a factor in establishing the consumer's eligibility for credit or insurance to be used primarily for personal, family, or household purposes; employment purposes; or in connection with a determination of an applicant's eligibility for a license or other benefit granted by a governmental instrumentality required by law to consider an applicant's financial responsibility or status.

E. "Controlling person"" means an individual, wherever located in the chain of ownership of the applicant, who controls more than 25% of the ownership interests in the applicant.

F. "Loan Broker" has the same meaning as set forth in 9-A M.R.S. §10-102(1).

G. "Nationwide Multistate Licensing System," herein referred to as "NMLS," means the nationwide multi-state licensing system and registry for mortgage lender licensing and loan brokering referred to in 9-A M.R.S. §§2-302 and 10-201 (previously the "Nationwide Mortgage Licensing System").

Notes

02-030 C.M.R. ch. 707, § III