CHAPTER 172
S.P. 486 - L.D. 1458
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 32 MRSA §6172, sub-§2, as enacted by PL 1999, c. 560, §3, is repealed and the following enacted in its place:
2. Debt management service. "Debt management service" means:
A. The receiving of money from a consumer for the purpose of distributing one or more payments to or among one or more creditors of the consumer in full or partial payment of the consumer's obligation;
B. Arranging or assisting a consumer to arrange for the distribution of one or more payments to or among one or more creditors of the consumer in full or partial payment of the consumer's obligation;
C. Exercising control, directly or indirectly, or arranging for the exercise of control over funds of a consumer for the purpose of distributing payments to or among one or more creditors of the consumer in full or partial payment of the consumer's obligation; or
D. Acting or offering to act as an intermediary between a consumer and one or more creditors of the consumer for the purpose of adjusting, settling, discharging, reaching a compromise on or otherwise altering the terms of payment of the consumer's obligation.
Effective September 13, 2003, unless otherwise indicated.
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