Maine Revised Statutes Title 30-A Sec. 3964-A – Regulation of pawnbrokers
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1. Exemption from state license. A pawnbroker licensed by a municipality pursuant to section 3961 is not required to obtain a supervised lender’s license pursuant to Title 9?A, section 2?301 in order to engage in pawn transactions.
[PL 1993, c. 59, §5 (NEW).]
Terms Used In Maine Revised Statutes Title 30-A Sec. 3964-A
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
- Municipality: means a city or town, except as provided in chapter 225. See Maine Revised Statutes Title 30-A Sec. 2001
- National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
- Pawnbroker: means a person who engages in pawn transactions. See Maine Revised Statutes Title 30-A Sec. 3960
- United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72
2. Application of law. Pawnbrokers are subject to Title 9?A, sections 6?104, 6?106, 6?202 and 6?203.
[PL 1993, c. 59, §5 (NEW).]
3. Model forms. The Superintendent of Consumer Credit Protection may issue model disclosure forms and clauses to facilitate compliance with the disclosure and computational requirements of this subchapter, pursuant to the truth-in-lending provisions of the Maine Consumer Credit Code, Title 9?A, Article 8?A.
[PL 2021, c. 245, Pt. A, §8 (AMD).]
4. Privacy of consumer financial information. A pawnbroker shall comply with the provisions of the federal Gramm-Leach-Bliley Act, 15 United States Code § 6801 et seq. (1999) and the applicable implementing federal Privacy of Consumer Information regulations, as adopted by the Office of the Comptroller of the Currency, Title 12 of the Code of Federal Regulations, Part 40 (2001); the Board of Governors of the Federal Reserve System, Title 12 of the Code of Federal Regulations, Part 216 (2001); the Federal Deposit Insurance Corporation, Title 12 of the Code of Federal Regulations, Part 332 (2001); the Office of Thrift Supervision, Title 12 of the Code of Federal Regulations, Part 573 (2001); the National Credit Union Administration, Title 12 of the Code of Federal Regulations, Part 716 (2001); the Federal Trade Commission, Title 16 of the Code of Federal Regulations, Part 313 (2001); or the Securities and Exchange Commission, Title 17 of the Code of Federal Regulations, Part 248 (2001), if the pawnbroker is a financial institution as defined in those regulations. This subsection is not intended to permit the release of health care information except as permitted by Title 22, section 1711?C or Title 24?A, chapter 24.
[PL 2001, c. 262, Pt. E, §1 (NEW).]
SECTION HISTORY
PL 1993, c. 59, §5 (NEW). PL 1995, c. 309, §27 (AMD). PL 1995, c. 309, §29 (AFF). PL 2001, c. 262, §E1 (AMD). PL 2011, c. 427, Pt. D, §19 (AMD). PL 2021, c. 245, Pt. A, §8 (AMD).