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Me. Rev. Stat. tit. 32, § 6174

Bond required

Known as the Debt Management Services Act

The act spans §§ 6171 to 6183 (15 sections).

PL 1999, c. 560, §3 (NEW).

Each application must be accompanied by evidence of a surety bond in a form approved by the administrator in the aggregate amount of $50,000 to run to the administrator for use by the administrator and any person or persons who may have a cause of action against a debt management service provider. The terms of the bond must run concurrently with the period of time during which the registration is in effect.

Official source: Maine Legislature. Reproduced from public-domain Maine statutes; confirm against the official source for the current text. Not legal advice.