Maine § 32 §6175 Handling of consumer funds

Maine Statutes

§ 32 §6175 — Handling of consumer funds

Maine § 32 §6175

Title 32PROFESSIONS AND OCCUPATIONS

Ch. 80-ADEBT MANAGEMENT SERVICES

This text of Maine § 32 §6175 (Handling of consumer funds) 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 §6175 (2026).

Text

1.Funds deposited in trust account. The debt management service provider shall deposit, within 2 business days of receipt, all funds received from or on behalf of a consumer for payment to a creditor or creditors in a federally insured trust account for the benefit of the consumer in a supervised financial organization. Any trust account established to receive consumer funds is free from trustee process and unavailable to creditors of the debt management service provider.

2.Requirements for handling of funds. The debt management service provider shall:

3.Commingling of funds. The debt management service provider may not commingle trust accounts established for the benefit of consumers with any operating accounts of the debt management service provider.

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1.
Funds deposited in trust account.
The debt management service provider shall deposit, within 2 business days of receipt, all funds received from or on behalf of a consumer for payment to a creditor or creditors in a federally insured trust account for the benefit of the consumer in a supervised financial organization. Any trust account established to receive consumer funds is free from trustee process and unavailable to creditors of the debt management service provider.
2.
Requirements for handling of funds.
The debt management service provider shall:
3.
Commingling of funds.
The debt management service provider may not commingle trust accounts established for the benefit of consumers with any operating accounts of the debt management service provider.