Maine § 32 §6097 Notice and information requirements for change of key individuals

Maine Statutes

§ 32 §6097 — Notice and information requirements for change of key individuals

Maine § 32 §6097

Title 32PROFESSIONS AND OCCUPATIONS

Ch. 79-AMONEY TRANSMITTERS

This text of Maine § 32 §6097 (Notice and information requirements for change of key individuals) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 32, § 32 §6097 (2026).

Text

Notice and information requirements for a change of key individuals is governed by this section.

1.Licensee adding or replacing key individual. A licensee adding or replacing a key individual shall:

2.Notice of disapproval. Within 90 days of the date on which the notice provided pursuant to subsection 1 is determined to be complete, the administrator may issue a notice of disapproval of a key individual if the competence, experience, character or integrity of the individual indicates that it would not be in the best interests of the public or the customers of the licensee to permit the individual to be a key individual of the licensee.

3.Basis of disapproval. A notice of disapproval must contain a statement of the basis for disapproval and be sent to the licensee and the disapproved ind

Free access — add to your briefcase to read the full text and ask questions with AI

Notice and information requirements for a change of key individuals is governed by this section.
1.
Licensee adding or replacing key individual.
A licensee adding or replacing a key individual shall:
2.
Notice of disapproval.
Within 90 days of the date on which the notice provided pursuant to subsection 1 is determined to be complete, the administrator may issue a notice of disapproval of a key individual if the competence, experience, character or integrity of the individual indicates that it would not be in the best interests of the public or the customers of the licensee to permit the individual to be a key individual of the licensee.
3.
Basis of disapproval.
A notice of disapproval must contain a statement of the basis for disapproval and be sent to the licensee and the disapproved individual. An applicant whose application is denied by the administrator under this section may request a hearing on the issue in accordance with Title 5, chapter 375, subchapter 4.
4.
Approval.
If the notice provided pursuant to subsection 1 is not disapproved within 90 days of the date on which the notice is determined to be complete, the key individual is deemed approved.
5.
Multistate licensing process.
If a multistate licensing process includes a key individual notice review and disapproval process pursuant to this section and the licensee avails itself or is otherwise subject to the multistate licensing process: