C.M.R. 02, 030, ch. 245 - STUDENT LOAN DISCLOSURES

  1. § 030-245-I - AUTHORITY
  2. § 030-245-II - PURPOSE
  3. § 030-245-III - APPLICABILITY
  4. § 030-245-IV - DEFINITIONS
  5. § 030-245-V - REQUIREMENTS AND PROCEDURES FOR DISCLOSURE OF THE TERMS OF STUDENT LOANS RESULTING FROM AN ALLOCATION OF THE STATE CEILING
  6. § 030-245-VI - ADVERTISING
  7. § 030-245-VII - SANCTIONS AND ENFORCEMENT

SUMMARY: In 1999, the Maine Legislature enacted P.L. 1999, c. 443, "An Act to Provide for the 1999 and 2000 Allocations of the State Ceiling on Private Activity Bonds," effective June 9, 1999. Section 2 of the law amended 10 M.R.S.A. §363(8), entitled "Allocation for educational bonds," which applies to lenders or issuers of student loans resulting from an allocation of the state private activity bond ceiling. 10 M.R.S.A. §363(8)(A) authorizes the Bureau of Banking and the Office of Consumer Credit Regulation to promulgate a joint rule establishing uniform disclosure requirements for any such student loans, and further establishing sanctions for noncompliance.

Notes

C.M.R. 02, 030, ch. 245
EFFECTIVE DATE:
August 1, 2000

Chapter is a Joint Rule with 02-029, 140

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