02-031-570 Me. Code R. § 4
Current through 2025-03, January 15, 2025
Unless other qualifications are provided in 24-A M.R.S.A. §§4435(10) or 4605(12), as amended, any issuer of a Line of Credit must be insured by the Federal Deposit Insurance Corporation, Federal Savings and Loan Insurance Corporation, or a successor federal deposit insurance agency or agencies. The issuer's equity capital, as defined above, must be at least 6.5 percent of its total assets as determined in accordance with generally accepted accounting principles.
02-031 C.M.R. ch. 570, § 4