§3201. Loan companies

All corporations chartered and doing business as "loan companies" pursuant to sections 3201 to 3210, as repealed on the effective date of this section, June 2, 1975 are hereby made corporations organized under Title 13-A and such "loan companies" shall be are subject to Title 9-A to the extent that the activities of such these companies are within the provisions of said Title 9-A.

Sec. 18. 9-A MRSA §4-403, sub-§5, as enacted by PL 1997, c. 315, §8, is amended to read:

5. Insurance consultant. "Insurance consultant" means a person engaged in the business of an insurance consultant as defined in Title 24-A, section 1508 1402, subsection 4, 8 or 11.

Sec. 19. 9-A MRSA §4-407, as enacted by PL 1997, c. 315, §8, is amended to read:

§4-407. Rulemaking

The Superintendent of Banking, the Superintendent of Insurance and the Director of the Office of Consumer Credit Regulation may undertake joint rulemaking, pursuant to this section, Title 9-B, section 448, subsection 5 and Title 24-A, section 1514-A 1443-A, subsection 5 3 to carry out the purposes of section 4-406, including issues regarding signs, the physical location of sales of insurance and identification of agents and brokers affiliated with financial institutions, credit unions, financial institution holding companies or supervised lenders. In adopting rules pursuant to this Part, the Superintendent of Banking, the Superintendent of Insurance and the Director of the Office of Consumer Credit Regulation shall consider the possibility of confusion and perception of coercion among the insurance consuming public, the need for cost-effective delivery of insurance products to insurance consumers and the importance of parity among agents and brokers affiliated with federally chartered and state-chartered financial institutions and credit unions. Any rule adopted may not interfere significantly with the ability of an agent or broker to solicit or negotiate the sale of an insurance product, whether or not that agent or broker is affiliated with a financial institution, credit union, financial institution holding company or supervised lender, except when no other reasonable alternative exists that protects the insurance consuming public. Rules adopted under this Part are routine technical rules pursuant to Title 5, chapter 375,