Maine Revised Statutes
Subchapter 2: CHECK CASHING AND FOREIGN CURRENCY EXCHANGE
32 §6135. Registration standards

§6135. Registration standards
1. Investigation. Upon the filing of an application for registration, the administrator shall investigate the applicant with respect to:
A. The business records and the capital adequacy of the person seeking the registration; [PL 1997, c. 155, Pt. A, §2 (NEW).]
B. The competence, experience, integrity and financial ability of any individual who:
(1) Is a director, officer or supervisory employee of the business; or
(2) Owns or controls the business; and [PL 1997, c. 155, Pt. A, §2 (NEW).]
C. The record of the applicant or of any person referenced in paragraph B with respect to:
(1) Any criminal activity;
(2) Any fraud or other act of personal dishonesty;
(3) Any act, omission or practice that constitutes a breach of a fiduciary duty; or
(4) Any suspension or removal, by any agency or department of the United States or any state, from participation in the conduct of any federally or state-licensed or regulated business. [PL 1997, c. 155, Pt. A, §2 (NEW).]
[PL 1997, c. 155, Pt. A, §2 (NEW).]
2. Grounds for denial. If the investigation under subsection 1 results in findings that the applicant is not properly qualified to conduct business under this subchapter, those findings are grounds for denial of the application.
[PL 1997, c. 155, Pt. A, §2 (NEW).]
SECTION HISTORY
PL 1997, c. 155, §A2 (NEW).