02-030-715 Me. Code R. § III

Current through 2024-44, October 30, 2024

Section 030-715-III - DEFINITIONS

For the purpose of this Chapter, the following terms have the following meanings:

1. "Administrator" means the Superintendent of the Bureau of Consumer Credit Protection.

2. "Bureau" means the Maine Bureau of Consumer Credit Protection.

3. "Controlling Person" means an individual or entity, wherever located in the chain of ownership of the applicant, who controls more than 25% of the ownership interests in the applicant.

4. "Nationwide Multistate Licensing System," herein referred to as "NMLS," means the nationwide multistate licensing system and registry for mortgage lender licensing and loan brokering referred to in 9-A M.R.S. §13-102(8) (previously the "Nationwide Mortgage Licensing System").

5. "Settlement agency" means an entity as defined in 10 M.R.S. §1400-A(3).

02-030 C.M.R. ch. 715, § III