Sec. 1. 9-A MRSA Art. XII is enacted to read:

Article XII

Nonprofit Debt Management Services

PART 1

GENERAL PROVISIONS

§12-101.__Short title

This Article is known and may be cited as the "Maine Consumer Credit Code--Nonprofit Debt Management Services."

§12-102.__Definitions

As used in this Article, unless the context otherwise indicates, the following terms have the following meanings.

1.__"Administrator" means the Director of the Office of Consumer Credit Regulation within the Department of Professional and Financial Regulation.

2.__"Debt management" means, in return for fee or other valuable consideration from the consumer, receiving money from a consumer for the purpose of distributing such money among creditors of the consumer in full or partial payment of the consumer's obligations.

3.__"Debt management service" is defined as follows.

A.__"Debt management service" means any person that provides or offers to provide to a consumer in this State any debt management services.

B.__"Debt management service" does not include:

(1)__A supervised financial organization as defined in section 1-301, subsection 38-A;

(2)__A supervised lender as defined in section 1-301, subsection 39;

(3)__A person currently admitted to the practice of law in this State; or

(4)__A person exempt from the provisions of Title 17, chapter 29.