Maine Revised Statutes Title 32 Sec. 6174 – Bond required
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Terms Used In Maine Revised Statutes Title 32 Sec. 6174
- Administrator: means the Superintendent of Consumer Credit Protection within the Department of Professional and Financial Regulation. See Maine Revised Statutes Title 32 Sec. 6172
- Debt management service: means :
A. See Maine Revised Statutes Title 32 Sec. 6172Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other. Person: means an individual or an organization. See Maine Revised Statutes Title 32 Sec. 6172
Each application must be accompanied by evidence of a surety bond in a form approved by the administrator in the aggregate amount of $50,000 to run to the administrator for use by the administrator and any person or persons who may have a cause of action against a debt management service provider. The terms of the bond must run concurrently with the period of time during which the registration is in effect. [PL 1999, c. 560, §3 (NEW).]
SECTION HISTORY
PL 1999, c. 560, §3 (NEW).