02-029-126 Me. Code R. § IV
Current through 2024-51, December 18, 2024
Unless other qualifications are provided in Title 24-AM.R.S.A. §§4435(10) or 4605(12), as amended, any issuer of a Line of Credit must be insured by the Federal Deposit Insurance Corporation, Federal Savings and Loan Insurance Corporation, or a successor federal deposit insurance agency or agencies. The issuer's equity capital, as defined above, must be at least 6.5% of its total assets as determined in accordance with generally accepted accounting principles.
02-029 C.M.R. ch. 126, § IV