Terms Used In Maine Revised Statutes Title 9-A Sec. 10-202

  • Evidence: 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.
  • Facilitator of a refund anticipation loan or refund anticipation check: means a person who individually or in conjunction or cooperation with another person:
A. See Maine Revised Statutes Title 9-A Sec. 10-102
  • Loan broker: means any person who, with respect to the extension of consumer credit by others, provides or offers to provide, in return for the separate payment of money or other valuable consideration, any of the following services:
    (1) Improving a consumer's credit record, history or rating;
    (2) Arranging for or obtaining an extension of credit for a consumer; or
    (3) Providing advice or assistance to a consumer with respect to subparagraph (1) or (2). See Maine Revised Statutes Title 9-A Sec. 10-102
  • Refund anticipation loan: means a loan that is secured by or that the creditor arranges to be repaid directly or indirectly from the proceeds of the consumer's income tax refund or tax credits. See Maine Revised Statutes Title 9-A Sec. 10-102
    • Each application must be accompanied by evidence of a surety bond, in a form approved by the administrator in the aggregate amount of $25,000, to run to the State for use by the State and any person or persons who may have a cause of action against a loan broker. Notwithstanding this section, the aggregate amount of a surety bond accompanying the application of a loan broker conducting business solely as a facilitator of a refund anticipation loan or refund anticipation check must be $10,000. The terms of the bond must run concurrent with the period of time during which the license is in effect. [PL 2009, c. 248, §8 (AMD).]
    SECTION HISTORY

    PL 1989, c. 70, §3 (NEW). PL 1997, c. 727, §B21 (AMD). PL 2005, c. 274, §6 (AMD). PL 2009, c. 248, §8 (AMD).
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