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25,400 statutes · page 1247 of 1270
United States — Maine legislation
20 statutes shown from 25,400 source-backed records
A person making a residential mortgage loan must clearly show their unique identifier on application forms, solicitations, advertisements, business cards, publicly accessible websites, and other documents set by the administrator.
Rules adopted pursuant to this Article are routine technical rules as defined in Title 5, chapter 375, subchapter 2‑A. [PL 2009, c. 362, Pt. B, §1 (NEW).]
This Article takes effect on January 1, 2011.
This Article may be known and cited as "the Student Loan Bill of Rights." [PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).]
This Article applies to a person who acts as a student loan servicer in this State, except that this Article does not apply to a supervised financial organization or a financial institution holding company as defined in Title 9‑B, section
This section defines key terms used in the Article, including servicing, student education loan, student loan borrower, student loan servicer, and superintendent.
The superintendent shall, using licensing and investigation fees collected pursuant to section 14‑107, support, maintain and designate a student loan ombudsman within the Department of Professional and Financial Regulation, Bureau of
The superintendent must submit an annual report by January 1st to specified legislative committees.
An exempt organization must help the student loan ombudsman with complaint investigation and resolution when requested, and must also file an annual complaint-count report if it was involved in resolving a complaint.
A person may not act as a student loan servicer, directly or indirectly, without first obtaining a license from the superintendent pursuant to this section, unless that person is exempt from licensure pursuant to subsection 1. [PL 2019, c.
1. Definition. As used in this section, "nonconforming payment" means a payment on a student education loan of a student loan borrower that is different than the required payment. [PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).] 2.
1. Investigations and examinations. The superintendent has the authority to conduct investigations and examinations as follows. A. For purposes of initial licensing, license renewal, license suspension, license revocation or termination or
A student loan servicer must follow applicable federal student-loan servicing laws and regulations.
The superintendent must track certain fees and other funds, and may use them only to pay the costs of carrying out this Article.
This section defines key terms used in the Article, including provider of postsecondary education, student financing, student financing company, and superintendent.
A person may not operate as a student financing company in the State unless it registers with the superintendent, pays an annual fee of at least $500, and provides specified annual information; the superintendent must also post certain company information on a public website.
Violations of this Article can lead to a fine, suspension from operating in Maine, and criminal and civil liability for a student financing company.
The superintendent may adopt rules to carry out this Article’s purposes.
This section defines terms used in the article.
A person may not engage in the business of securing, making or extending a private education loan or holding a private education loan without having first obtained a license as a supervised lender from the administrator pursuant to section
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