CHAPTER 509
H.P. 1396 - L.D. 1835
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 9-A MRSA §10-102, sub-§1, ¶A, as enacted by PL 1989, c. 70, §3, is amended to read:
A. "Credit services organization" means any person who, with respect to the extension of consumer credit by others, provides or offers to provide, in return for the separate payment by the consumer of money or other valuable consideration, any of the following services:
(1) Improving a consumer's credit record, history or rating;
(2) Arranging for or obtaining an extension of credit for a consumer; or
(3) Providing advice or assistance to a consumer with respect to subparagraph (1) or (2).
Sec. 2. 9-A MRSA §10-102, sub-§1, ¶B, as amended by PL 2001, c. 371, §6, is further amended to read:
B. "Credit services organization" does not include:
(1) A supervised financial organization as defined in section 1-301, subsection 38-A;
(2) A supervised lender as defined in section 1-301, subsection 39 other than a supervised financial organization, except that, with respect to any transaction in which a supervised lender other than a supervised financial organization is acting solely as a credit services organization, section 10-302 applies;
(3) A person licensed by the Real Estate Commission to the extent that the person is engaged in activities regulated by that commission;
(4) A person currently admitted to the practice of law in this State;
(5) Any nonprofit organization exempt from taxation under the United States Internal Revenue Code, Section 501(c)(3) to the extent that the organization's activities are consistent with those set forth in its application for tax exemption to the Internal Revenue Service; or
(6) A consumer reporting agency, as defined in the Fair Credit Reporting Act, Title 10, chapter 210.;
(7) An affiliate of a supervised lender when the affiliate provides services described in paragraph A, subparagraph (1), (2) or (3) for or on behalf of that supervised lender and when the affiliate is not compensated by the consumer for those services;
(8) An employee of a supervised lender or an employee of an affiliate of a supervised lender when the employee provides services described in paragraph A, subparagraph (1), (2) or (3) for or on behalf of that supervised lender or affiliate and when the employee or the affiliate is not compensated by the consumer for those services;
(9) A person paid by a supervised lender or a consumer to document a loan, attend or conduct a loan closing, disburse loan proceeds or record or file loan documents;
(10) A person who performs marketing services for a creditor, such as a telemarketer, an advertising agency or a mailing house, when the person is not compensated by the consumer for those services;
(11) A seller of consumer goods or services that provides services described in paragraph A, subparagraph (1), (2) or (3) in connection with a sale or proposed sale of consumer goods or services by that seller when the seller is not compensated by a consumer for those services; or
(12) An employee of a seller of consumer goods or services that provides services described in paragraph A, subparagraph (1), (2) or (3) in connection with a sale or proposed sale of consumer goods or services by that seller when the employee or seller is not compensated by a consumer for those services.
For the purposes of this paragraph, "affiliate" has the same meaning as defined in Title 9-B, section 131, subsection 1-A.
Effective July 25, 2002, unless otherwise indicated.
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