Sec. 7. 9-A MRSA §2-303-A, as enacted by PL 2001, c. 371, §4, is amended to read:

§2-303-A. Temporary suspension of license or registration

Notwithstanding Title 5, sections 10003 and 10004 and Title 10, section 8003, if the public interest or the protection of borrowers so requires, the administrator may, by order, suspend a license to make supervised loans or registration as a loan officer or postpone the effective date of such a license or registration. Upon entry of the order, the administrator shall promptly notify the applicant or, licensee or registrant that an order has been entered, of the reasons for the order and that, within 15 days after the receipt of a written request by the applicant or, licensee or registrant, the matter must be scheduled for hearing. Section 2-303 applies to all subsequent proceedings.

Sec. 8. 9-A MRSA §10-102, sub-§3 is enacted to read:

3.__"Loan officer" has the same meaning as in section 1-301, subsection 22-A.

Sec. 9. 9-A MRSA §10-201, as amended by PL 1993, c. 495, §2, is further amended to read:

§10-201. Registration and annual reregistration

A person desiring to engage or continue in business in this State as a credit services organization shall apply to the administrator for registration under this article on or before January 31st of each 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. At the time of application and on an ongoing basis during the term of any such registration, the applicant shall apply to the administrator for registration of all loan officers employed or retained by the applicant.__An application for registration as a loan officer must be filed in a manner prescribed by the administrator and include the name, address and