An Act To Amend the Loan Originator Registration Laws
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 9-A MRSA §13-120, as enacted by PL 2009, c. 362, Pt. B, §1, is amended to read:
§ 13-120. Effective date
This Article takes effect July 31, 2010 January 1, 2011.
summary
This bill delays by 5 months the date of the transition for mortgage companies from the existing state registration system to a new national system to avoid overlapping and duplicative requirements.