3.__"Loan officer" has the same meaning as in section 1-301, subsection 22-A.

Sec. 9. 9-A MRSA §10-201, as amended by PL 1993, c. 495, §2, is further amended to read:

§10-201. Registration and annual reregistration

A person desiring to engage or continue in business in this State as a credit services organization shall apply to the administrator for registration under this article on or before January 31st of each year. The application must be in a form prescribed by the administrator. The administrator may refuse the application if it contains erroneous or incomplete information. At the time of application and on an ongoing basis during the term of any such registration, the applicant shall apply to the administrator for registration of all loan officers employed or retained by the applicant.__An application for registration as a loan officer must be filed in a manner prescribed by the administrator and include the name, address and work location of the loan officer and such additional information as is reasonably requested by the administrator.__An applicant's registration of a loan officer within 90 days of the date that registration would otherwise be required does not constitute a violation of this section. A registration may not be issued unless the administrator, upon investigation, finds that the financial responsibility, character and fitness of the applicant, and where applicable, its partners, officers or directors and the character and fitness of its loan officers, warrant belief that the business will be operated honestly and fairly within the purposes of this Title.

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 fee of up to $20 for each loan officer, up to a maximum of $200 in total.

A registered credit services organization may conduct business only through a loan officer who possesses a current, valid registration certificate.__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