The application shall must include an initial fee of $200. Annual reregistration shall must include a fee of $100. Applicants and registrants must pay an additional $20 for each loan officer, up to a maximum of $200.

A registered credit services organization may conduct business only through a loan officer who possesses a current, valid registration certificate.__A loan officer may not be employed or retained simultaneously by more than one registrant.__A loan officer must register at the loan officer's principal registered work location and may then work from any registered location of the credit services organization.__ The registration of a loan officer is valid only when that person is employed or retained and supervised by a registered credit services organization.__ When a loan officer ceases to be employed by a registered credit services organization, the loan officer and the credit services organization shall promptly notify the administrator in writing.

Sec. 10. 9-A MRSA §10-401, first ¶, as amended by PL 1993, c. 495, §5, is further amended to read:

Any credit services organization or loan officers of any credit services organization that violates violate any provision of this Title or any rule issued by the administrator, or that through any unfair, unconscionable or deceptive practice causes cause actual damage to a consumer, is are subject to the following:

Sec. 11. 9-A MRSA §10-401, sub-§4, as amended by PL 1993, c. 495, §5, is further amended to read:

4. A civil action by an aggrieved consumer in which that consumer has the right to recover actual damages from the credit services organization or its loan officers in an amount determined by the court, plus costs of the action together with reasonable attorney's fees; and

SUMMARY