Maine Revised Statutes Title 32 Sec. 6112 – Changes in control of a licensee
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Terms Used In Maine Revised Statutes Title 32 Sec. 6112
- Administrator: means the Superintendent of Consumer Credit Protection within the Department of Professional and Financial Regulation. See Maine Revised Statutes Title 32 Sec. 6102
- Control: means ownership of, or the power to vote, 25% or more of the outstanding voting securities of a licensee or controlling person. See Maine Revised Statutes Title 32 Sec. 6102
- in writing: include printing and other modes of making legible words. See Maine Revised Statutes Title 1 Sec. 72
- Licensee: means a person licensed under this subchapter. See Maine Revised Statutes Title 32 Sec. 6102
Within 15 days of a change or acquisition of control of a licensee, the licensee shall provide notice of the event to the administrator in writing and in such form as the administrator may prescribe, and with such information, data and records as the administrator may require. The administrator may waive this notification requirement if, in the administrator’s discretion, the change in control does not pose any risk to the interests of the public. [PL 1997, c. 155, Pt. A, §2 (NEW).]
SECTION HISTORY
PL 1997, c. 155, §A2 (NEW).