Me. Rev. Stat. tit. 32, § 6132 (2025) – Definitions

As used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings.

1. Administrator "Administrator" means the Superintendent of Consumer Credit Protection.
[PL 1997, c. 155, Pt. A, §2 (NEW); PL 2007, c. 273, Pt. B, §6 (REV); PL 2007, c. 695, Pt. A, §47 (AFF).]
2. Applicant "Applicant" means a person filing an application for a license under this subchapter.
[PL 1997, c. 155, Pt. A, §2 (NEW).]
3. Capital adequacy "Capital adequacy" means that an applicant is financially sound and has liquid assets useable in the business of at least $10,000, computed according to generally accepted accounting principles, for the full term of the registration.
[PL 1997, c. 155, Pt. A, §2 (NEW).]
4. Check "Check" means any check, draft, money order or other instrument for the transmission or payment of money. "Check" does not include a travelers check.
[PL 1997, c. 155, Pt. A, §2 (NEW).]
5. Check cashing business "Check cashing business" means any person who engages in the business of cashing checks for a fee. "Check cashing business" does not include any of the following:
1. A. A supervised financial organization;
  [PL 1997, c. 155, Pt. A, §2 (NEW).]
2. B. A supervised lender;
  [PL 1997, c. 155, Pt. A, §2 (NEW).]
3. C. A licensee under the Maine Money Transmission Modernization Act; or
  [PL 2023, c. 662, §5 (AMD).]
4. D. A person who is primarily engaged in the business of selling tangible personal property or services at retail and does not derive more than 5% of its income from check cashing.
  [PL 1997, c. 155, Pt. A, §2 (NEW).]
[PL 2023, c. 662, §5 (AMD).]
6. Foreign currency exchange business "Foreign currency exchange business" means a person who engages in the business of exchanging foreign currency for a fee. "Foreign currency exchange business" does not include any of the following:
1. A. A supervised financial organization;
  [PL 1997, c. 155, Pt. A, §2 (NEW).]
2. B. A licensee under the Maine Money Transmission Modernization Act; or
  [PL 2023, c. 662, §6 (AMD).]
3. C. A person who is primarily engaged in the business of selling tangible personal property or services at retail and does not derive more than 5% of that person's income from foreign currency exchange.
  [PL 1997, c. 155, Pt. A, §2 (NEW).]
[PL 2023, c. 662, §6 (AMD).]
7. Identification "Identification" means, and is limited to, an unexpired and otherwise valid drivers license; a state identification card issued by any state of the United States or its territories or the District of Columbia showing a photograph and signature; a United States government resident alien identification card; a United States passport; or a United States military identification card.
[PL 1997, c. 155, Pt. A, §2 (NEW).]
8. Person "Person" means an individual, partnership, association, joint-stock association, limited liability company, trust or corporation.
[PL 1997, c. 155, Pt. A, §2 (NEW).]
9. Registrant "Registrant" means a person registered under this subchapter.
[PL 1997, c. 155, Pt. A, §2 (NEW).]

PL 1997, c. 155, §A2 (NEW). PL 2007, c. 273, Pt. B, §6 (REV). PL 2007, c. 273, Pt. B, §7 (AFF). PL 2007, c. 695, Pt. A, §47 (AFF). PL 2023, c. 662, §§5, 6 (AMD).