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143 chapters · 858 sections in this title.
10 M.R.S. § 1395 Definitions
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As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 2009, c. 61, §1 (NEW).] 1. Administrator. "Administrator" means the Superintendent of Consumer Credit Protection within the Department of Professional and Financi…
10 M.R.S. § 1396 License; requirements
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1. License. A person may not directly or indirectly engage in or carry on, or purport to engage in or carry on, the business of, or act in the capacity of, an exchange facilitator in this State without first obtaining a license from the administrator in accordance with this chapt…
10 M.R.S. § 1397 Financial responsibility and insurance coverage requirements
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1. Financial responsibility. An exchange facilitator shall at all times comply with one or more of the following: A. Maintain a fidelity bond or bonds in an amount not less than $250,000, executed by an insurer authorized to do business in this State; [PL 2009, c. 61, §1 (NEW).] …
10 M.R.S. § 1398 Duties of exchange facilitators; prohibited activities
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1. Duty to client. An exchange facilitator shall act as a custodian for all exchange funds, including, but not limited to, money, property, other consideration or instruments received by the person from, or on behalf of, a client, except funds received as the person's compensatio…