A person regularly extends consumer credit only if that person extended credit more than 25 times, or more than 5 times for transactions secured by a dwelling, in the preceding calendar year. If a person did not meet these numerical standards in the preceding calendar year, the numerical standards must be applied to the current calendar year.

Notwithstanding the provisions of this section, any person who originates 2 or more high-rate, high-fee mortgages as defined in section 8-103, subsection F-1 in any 12-month period or any person who originates one or more such mortgages through a credit services organization loan broker as defined in Article X 10 of this Act in any 12-month period is considered a creditor.

Sec. 2. 9-A MRSA §2-302, sub-§7 is enacted to read:

7.__The administrator may adopt rules requiring that applicants, applicants' partners, officers or directors and employees of applicants satisfy initial and continuing educational requirements.__The reasonable costs of meeting such educational requirements must be assessed to applicants.__Rules adopted pursuant to this subsection are routine technical rules pursuant to Title 5, chapter 375, subchapter 2-A.

Sec. 3. 9-A MRSA §10-101, as enacted by PL 1989, c. 70, §3, is amended to read:

§10-101. Short title

This article shall may be known and may be cited as the "Maine Consumer Credit Code - Credit Services Organizations Loan Brokers."

Sec. 4. 9-A MRSA §10-102, sub-§1, as amended by PL 2001, c. 509, §§1 and 2, is further amended to read:

1. "Credit services organization Loan broker" is defined as follows.

A. "Credit services organization Loan broker" means any person who, with respect to the extension of consumer credit by others, provides or offers to provide, in return for the separate payment of money or other valuable consideration, any of the following services:

(1) Improving a consumer's credit record, history or rating;