An Act To Protect a Borrower's Right To Use the Borrower's Chosen Accounting Service
Maine Legislature, Session 123, LD 1452
Committee Amendment CA_A_H235 (House)
Amends: 9-A MRSA §3, 9-A MRSA §9, 9-B MRSA §241

COMMITTEE AMENDMENT "A" to H.P. 1022, L.D. 1452, Bill, "An Act To 
Protect a Borrower's Right To Use the Borrower's Chosen Accounting Service" 
Amend the bill by striking out everything after the enacting clause and before the 
summary and inserting the following: 
'Sec. 1. 9-A MRSA §3-315 is enacted to read: 
§3-315. Choice of accounting, tax or attest services provider 
A supervised lender may not, in connection with the extension of credit, interfere 
with a purchaser'S or borrower's free choice of an accounting, tax or attest services 
provider who is accredited as a certified public accountant, public accountant or enrolled 
agent, except that the supervised lender may require the provider chosen by the purchaser 
or borrower to provide adequate evidence of liability insurance or such other written 
policy requirements as the supervised lender may determine necessary to protect its 
interest. 
Sec. 2. 9-A MRSA §9-311 is enacted to read: 
§9-311. Choice of accounting, tax or attest services provider 
A creditor may not, in connection with the extension of credit, interfere with a 
purchaser's or borrower's free choice of an accounting, tax or attest services provider who 
is accredited as a certified public accountant, public accountant or enrolled agent, except 
that the creditor may require the provider chosen by the purchaser or borrower to provide 
adequate evidence of liability insurance or such other written policy requirements as the 
creditor may determine necessary to protect its interest. 
Sec. 3. 9-B MRSA §241, sub-§14 is enacted to read: 
14. Choice of accounting, tax or attest services provider. A financial institution 
authorized to do business in this State or a credit union authorized to do business in this 
State or a financial institution holding company or an affiliate of a financial institution 
COMMITTEE AMENDMENT 
COMMITTEE AMENDMENT .. A .. to H.P.1022, L.D.1452 
holding company that is authorized to do business in this State may not, in connection 
with the extension of credit, interfere with a purchaser's or borrower's free choice of an 
accounting, tax or attest services provider who is accredited as a certified public 
accountant, public accountant or enrolled agent, except that the financial institution or 
credit union may require the provider chosen by the purchaser or borrower to provide 
adequate evidence of liability insurance or such other written policy requirements as the 
financial institution or credit union may determine necessary to protect its interest.' 
SUMMARY 
This amendment replaces the bill. Like the bill, the amendment provides that a 
financial institution or a credit union may not, in connection with the extension of credit, 
interfere with a purchaser's or borrower's free choice of an accounting, tax or attest 
services provider; the amendment adds a supervised lender or other creditor to the 
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provision. The amendment clarifies that the accounting, tax or attest services provider 
must have proper accreditation and permits a 
financial institution, credit union or 
supervised lender to require that the accounting, tax or attest services provider have 
adequate liability insurance and meet other written policy requirements established by the 
financial institution, credit union, supervised lender or other creditor. 
COMMITTEE AMENDMENT