Maine § 32 §6100-S Surety bond

Maine Statutes

§ 32 §6100-S — Surety bond

Maine·Title 32 PROFESSIONS AND OCCUPATIONS·Ch. 79-A MONEY TRANSMITTERS

Surety bond requirements are governed by this section.

1.Security. An applicant for a money transmission license shall provide, and a licensee at all times shall maintain, security consisting of a surety bond in a form satisfactory to the administrator or, with the administrator's approval, a deposit instead of a bond in accordance with this section.

2.Amount. The amount of the required security is $100,000.

3.Exceeding maximum required bond amount. A licensee may exceed the maximum required bond amount pursuant to section 6100‑T, subsection 1.

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Surety bond requirements are governed by this section.
1.
Security.
An applicant for a money transmission license shall provide, and a licensee at all times shall maintain, security consisting of a surety bond in a form satisfactory to the administrator or, with the administrator's approval, a deposit instead of a bond in accordance with this section.
2.
Amount.
The amount of the required security is $100,000.
3.
Exceeding maximum required bond amount.
A licensee may exceed the maximum required bond amount pursuant to section 6100‑T, subsection 1.

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