Sec. F-1. 9-A MRSA §6-203, sub-§6 is enacted to read:
6. Volume fees. Volume fees paid with respect to consumer credit transactions that are originated by a seller, lessor or lender, other than a supervised financial organization, and that are subsequently assigned to a financial institution, as defined in Title 9-B, section 131, subsection 17, or to a credit union, as defined in Title 9-B, section 131, subsection 12, within 30 days after the inception of the consumer credit transaction must be allocated between the Department of Professional and Financial Regulation, Office of Consumer Credit Regulation and Bureau of Banking in proportion to the reasonable costs of regulation of all aspects of such transactions. The agreement for allocation must be established by the Commissioner of Professional and Financial Regulation, in consultation with the Director of the Office of Consumer Credit Regulation and the Superintendent of Banking, not more frequently than every 24 months.
Sec. F-2. Applicability. This Part applies to volume fees paid on or after January 1, 1997.
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