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| A person desiring to engage or continue in business in this State | as a credit services organization | administrator for registration | | before January 31st of each even-numbered year. The application | | must be in a form prescribed by the administrator. The | | administrator may refuse the application if it contains erroneous | or incomplete information. A registration | | issued unless the administrator, upon investigation, finds that the | | financial responsibility, character and fitness of the applicant, | | and where applicable, its partners, officers or directors, warrant | | belief that the business will be operated honestly and fairly | | within the purposes of this Title. The administrator may adopt | | rules requiring that applicants, its partners, officers or | | directors and employees of applicants satisfy initial and | | continuing educational requirements.__The reasonable costs of | | meeting such educational requirements are assessed to applicants.__ | | Rules adopted pursuant to this section are routine technical rules | | pursuant to Title 5, chapter 375, subchapter 2-A. |
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| | | The initial application shallan initial | $200Annual reregistration shall | application must include a fee of $100 |
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| | | A licensee may conduct business only at or from a place of | | business for which the licensee holds a license and not under any | | other name than that on the license. |
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| | | Sec. 5. 9-A MRSA §10-202, as amended by PL 1997, c. 727, Pt. B, §21, | | is further amended to read: |
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| | | Each application must be accompanied by evidence of a surety | | bond, in a form approved by the administrator in the aggregate | amount of $10,000 | | State and any person or persons who may have a cause of action | against a credit services organization | | the bond must run concurrent with the period of time during which | the license will be |
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| | | Sec. 6. 9-A MRSA §10-301, as amended by PL 1993, c. 495, §3, is | | further amended to read: |
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| | | Each credit services organization | | from consumers, other than bona fide 3rd-party fees, in an escrow | | account separate from any operating accounts of the |
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