reglab/statecodes huggingface dataset:
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 539 - OFFERS AND SALES OF VIATICAL OR LIFE SETTLEMENT CONTRACTS › Viatical Disclosure Document II

Current through 2024-29, July 17, 2024
This disclosure document is mandated by the State of
				  Maine Office of Securities.
Viatical Disclosure Document II
Read Immediately Upon Receipt
You are purchasing a
viatical or life settlement
				  contract
. A
viatical or life settlement contract
is an
				  agreement for the purchase of the death benefit of a life insurance policy. The
				  owner of the life insurance policy being sold is called the
owner
.
				  The individual whose life is insured by the policy is called the
insured
.
Right to Rescind
1. By law, you have the right to rescind the
				purchase of this investment by giving written notice of your intention to
				rescind. To be effective, your written notice of rescission must be postmarked
				no later than 30 days following the later of:
a. the date on which you paid for your
				investment; or
b. the date on which
				you received this Disclosure Document II.
Your written notice of rescission must be mailed, postage
				  prepaid, to:
Name:
Address:
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 540 - ADJUDICATORY PROCEEDINGS RULE › Section 032-540-1 - Scope

Current through 2024-29, July 17, 2024
This rule governs procedure in adjudicatory proceedings
				  before the Office of Securities, subject to and in accordance with the
				  provisions of the Maine Administrative Procedure Act,
				   5 M.R.S.A.
				  §§8001 -
				  11008, and
				  the Maine Uniform Securities Act,
				   32 M.R.S.A.
				  §§16101 -
				  16702.
				  This rule does not apply to investigations, except where made specifically
				  applicable. This rule does not apply until a hearing is requested by a party or
				  set by the Administrator.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 540 - ADJUDICATORY PROCEEDINGS RULE › Section 032-540-2 - Definitions

Current through 2024-29, July 17, 2024
Terms used in this rule shall be defined the same as they are
				  defined in the Maine Administrative Procedure Act,
				   5 M.R.S.A.
				  §8002, and the Maine Uniform Securities
				  Act,
				  32 M.R.S.A.
				  §16102. If a term is defined in both of
				  those statutes in an inconsistent manner, the definition in the Maine Uniform
				  Securities Act shall govern in this rule.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 540 - ADJUDICATORY PROCEEDINGS RULE › Section 032-540-3 - Service on Parties

Current through 2024-29, July 17, 2024
1. General rule. In
				accordance with the Maine Administrative Procedure Act,
				 5M.R.S.A.
				§9051(3), service of
				any paper on a party to an adjudicatory proceeding is complete upon mailing of
				the paper to the party or the party's attorney, upon in-hand delivery to the
				recipient, or upon delivery to the recipient's office. This rule does not apply
				to service of process under 5 M.R.S.A. §10704(4).
2. Represented parties. Unless the
				Administrator or presiding officer orders otherwise, where a party is
				represented by an attorney, service of papers shall be made upon the attorney.
				Service upon an attorney of record for a party remains sufficient and adequate
				service until the attorney has been allowed to withdraw pursuant to these
				rules.
3. Service by mail. The
				mailing of a paper to a party may be made to the party's last known business or
				residential address. The mailing of a paper to a party's attorney may be made
				to the attorney's last known business address.
4. Delivery. Delivery of a paper to a
				recipient's office may be made by leaving the paper at the recipient's
				office.
5. When the party to be
				served is the Office of Securities, service shall be made upon the staff
				member(s) participating in the proceeding in an advocate capacity.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 540 - ADJUDICATORY PROCEEDINGS RULE › Section 032-540-4 - Filing with the Administrator or Presiding Officer

Current through 2024-29, July 17, 2024
1.
				General rule. In accordance with the Maine Administrative Procedure Act,
				 5M.R.S.A.
				§9051(3), the filing of
				any papers required or permitted to be filed under this rule is complete when
				the Administrator or presiding officer receives the paper by mail, in-hand
				delivery, or any other means specified by the Administrator or presiding
				officer.
2. Filing by mail. Papers
				required or permitted to be filed under this rule by mail shall be mailed to
				the Office of Securities, 121 State House Station, Augusta, ME 04333-0121, or
				such other places as the Administrator may designate.
3. Hand delivery. Hand-delivery at times
				other than during regular business hours shall be deemed filed on the next
				regular business day.
4. Filing by
				facsimile. Parties may file by facsimile but the filing shall be deemed
				effective only if the paper is simultaneously mailed to the Administrator or
				Presiding Officer.
5. Statement of
				service. For any paper filed under this rule, the filing party shall file the
				original with the Administrator or presiding officer along with a statement
				that copies have been served on every other party (or the party's attorney of
				record) and specifying for each (A) the name and address of the party or
				attorney and (B) the date and manner of service.
6. Non-compliance. If a party fails to comply
				with this section, the Administrator or presiding officer may refuse to accept
				or consider the filing.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 540 - ADJUDICATORY PROCEEDINGS RULE › Section 032-540-5 - Computation of Time

Current through 2024-29, July 17, 2024
1. General rule. In
				computing any period of time that is either prescribed or allowed by this rule,
				or is ordered by the Administrator or presiding officer, the day of the act or
				event after which the designated period of time begins to run is not to be
				included. The last day of the period so computed is to be included, unless it
				is a Saturday, Sunday, State holiday, or any other day on which the Office is
				closed, in which event the period runs until the end of the next business
				day.
2. Modification. When by this
				rule or by order of the Administrator or presiding officer an act is required
				or allowed to be done at or within a specified time, the Administrator or
				presiding officer for good cause shown may in his/her discretion order the
				period extended or shortened, except as precluded by statute. When the
				Administrator or presiding officer modifies a period of time for the
				simultaneous exchange of documents, the period is equally modified for all
				parties, unless the Administrator or presiding officer orders
				otherwise.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 540 - ADJUDICATORY PROCEEDINGS RULE › Section 032-540-6 - Form of Papers and Submissions

Current through 2024-29, July 17, 2024
1. Captions.
				All papers and submissions filed in connection with adjudicatory proceedings
				shall contain a caption setting forth (A) the name of the first listed
				respondent, (B) the file number assigned to the case by the Office, and (C) a
				brief descriptive title of the paper or submission.
2. Form. All papers and submissions filed in
				connection with adjudicatory proceedings, excluding exhibits, shall be typed or
				otherwise printed on one side of the page of 8.5 x 11 inch paper. The typed
				matter must be double spaced in at least 12-point type, except that footnotes
				and indented quotations may be single spaced and in 11-point type, and margins
				should be at least one inch on all sides. All pages shall be
				numbered.
3. Signatures. Every
				paper filed by a party represented by an attorney shall be signed by at least
				one attorney of record in the attorney's individual name, whose address and
				telephone number shall be stated. A party who is not represented by an attorney
				shall sign the paper and state the party's address and telephone number. The
				signature of an attorney or party constitutes a representation by the signer
				that the signer has read the paper being submitted; that to the best of the
				signer's knowledge, information, and belief there is good ground to support it;
				and that it is not interposed for delay.
4. Non-compliance. If a party fails to comply
				with this section, the Administrator or presiding officer may refuse to accept
				or consider the filing.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 540 - ADJUDICATORY PROCEEDINGS RULE › Section 032-540-7 - Motions

Current through 2024-29, July 17, 2024
1. Form. All motions should be written and in
				accordance with Section
				6 above, except that motions may be
				made orally during a hearing at the discretion of the Administrator or
				presiding officer.
2. Content. All
				motions must state concisely the question to be determined and the factual and
				legal grounds for the desired order or action and be accompanied by any
				necessary supporting documentation.
3. Timing. No motion pertaining to an
				upcoming scheduled hearing may be filed less than 28 days before the hearing
				without a showing of good cause and the prior approval of the Administrator or
				presiding officer. The filing or pendency of a motion does not alter or extend
				any time limit.
4. Opposition. Any
				opposition to a motion must be filed within 14 days after receipt of the
				motion. A party failing to file such timely opposition shall be deemed to have
				waived all objections to the motion.
5. Length. No brief or motion or opposition
				thereto shall exceed 20 pages without a showing of good cause and the prior
				approval of the Administrator or presiding officer.
6. Briefs and oral argument. The
				Administrator or presiding officer may in his/her discretion order that briefs
				be filed on any issue and may allow oral argument on any motion.
7. Non-compliance. If a party fails to comply
				with this section, the Administrator or presiding officer may refuse to accept
				or consider the filing.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 540 - ADJUDICATORY PROCEEDINGS RULE › Section 032-540-8 - Timing and Manner of Intervention

Current through 2024-29, July 17, 2024
1. Timing.
				Persons who seek to intervene in a proceeding pursuant to
				 5 M.R.S.A.
				§9054 must do so by motion for leave to
				intervene which must be filed and served on all parties no later than 28 days
				before the hearing, unless the Administrator or presiding officer orders
				otherwise for good cause shown.
2.
				Manner. Motions for leave to intervene shall (A) conform to the requirements of
				Sections
				6 and
				7 above, (B) state the grounds for the
				proposed intervention, and (C) list the name, address, and telephone number of
				the interested person and that person's attorney, if any.
3. Non-compliance. If a proposed intervenor
				fails to comply with this section, the Administrator or presiding officer may
				refuse to accept or consider the motion.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 540 - ADJUDICATORY PROCEEDINGS RULE › Section 032-540-9 - Addition, Deletion, and Substitution of Parties

Current through 2024-29, July 17, 2024
The Administrator or presiding officer may, in his/her own
				  discretion or upon motion of a party, order the addition, deletion, or
				  substitution of parties.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 540 - ADJUDICATORY PROCEEDINGS RULE › Section 032-540-10 - Consolidation and Severance

Current through 2024-29, July 17, 2024
1. Consolidation.
				The Administrator or presiding officer may consolidate two or more proceedings
				where the proceedings involve a common question of law or fact or where such
				consolidation otherwise may expedite the orderly conduct and disposition of the
				proceedings or settlements thereof.
2. Severance. The Administrator or presiding
				officer may, for good cause shown, order any proceeding or portion thereof
				severed.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 540 - ADJUDICATORY PROCEEDINGS RULE › Section 032-540-11 - Continuances

Current through 2024-29, July 17, 2024
Continuances or adjournments of conferences or hearings may
				  be granted at the Administrator's or presiding officer's
				  discretion.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 540 - ADJUDICATORY PROCEEDINGS RULE › Section 032-540-12 - Discovery

Current through 2024-29, July 17, 2024
In accordance with the Maine Administrative Procedure Act,
				   5 M.R.S.A.
				  §9060(2), the
				  Administrator or presiding officer may in his/her discretion and for good cause
				  shown allow parties to obtain discovery via deposition, written interrogatory,
				  or other method and may issue subpoenas pursuant to
				   5 M.R.S.A.
				  §9060(1) in aid of any
				  discovery allowed.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 540 - ADJUDICATORY PROCEEDINGS RULE › Section 032-540-13 - Pre-Hearing Conferences

Current through 2024-29, July 17, 2024
1. Agenda. The
				Administrator or presiding officer may in his/her discretion direct that one or
				more pre-hearing conferences be held, upon reasonable notice, for any purpose
				including but not limited to:
(A) formulating
				or simplifying issues;
(B)obtaining admissions or stipulations
				regarding facts and documents;
(C)deciding requests for official notice;
(D) addressing discovery disputes
				and motions;
(E) determining the
				admissibility of evidence;
(F)
				deciding the order of presentation;
(G) arranging for exchange of proposed
				exhibits, testimony, and evidence;
(H) limiting the number of witnesses and
				extent of witness examinations;
(I) determining scheduling and procedures for
				the hearing; and
(J)discussing
				such other matters that may expedite the orderly conduct and disposition of
				proceedings or settlements thereof.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 540 - ADJUDICATORY PROCEEDINGS RULE › Section 032-540-14 - Pre-Hearing Exchange

Current through 2024-29, July 17, 2024
The Administrator or presiding officer may order or direct
				  parties to take any required action before the hearing, including but not
				  limited to filing and serving lists of witnesses and exhibits, copies of
				  pre-marked exhibits, and other documents by a certain date or dates before a
				  scheduled hearing. If a party fails to comply with such an order or direction,
				  the Administrator or presiding officer in his/her discretion may at the hearing
				  refuse to admit certain exhibits into evidence, refuse to allow certain
				  witnesses to testify, default the party (provided notice has been given
				  pursuant to
				   5 M.R.S.A.
				  §9053(3) ), or take
				  other appropriate action.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 540 - ADJUDICATORY PROCEEDINGS RULE › Section 032-540-15 - Mediation

Current through 2024-29, July 17, 2024
At the request of any party and with the consent of all
				  parties, the Administrator or presiding officer may, in his/her discretion,
				  appoint a mediator to facilitate settlement of a proceeding. The appointment of
				  a mediator shall be on such terms and conditions as the Administrator or
				  presiding officer directs. The mediator shall not be the Administrator, the
				  presiding officer, or any Office of Securities staff who have participated or
				  will participate in the proceeding in an advocate capacity. Settlement of a
				  proceeding through mediation is in all cases subject to the Administrator's
				  approval.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 540 - ADJUDICATORY PROCEEDINGS RULE › Section 032-540-16 - Witnesses

Current through 2024-29, July 17, 2024
1. Examination
A. After a witness is sworn, the parties may
				conduct direct examination, cross-examination, re-direct examination, and
				re-cross examination. Further examination by the parties is permissible only if
				the Administrator or presiding officer so directs in the exercise of his/her
				discretion.
B. The Administrator or
				presiding officer may conduct his/her own examination of a witness at any time
				during the testimony of that witness.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 540 - ADJUDICATORY PROCEEDINGS RULE › Section 032-540-17 - Conduct of Hearing

Current through 2024-29, July 17, 2024
1. Presentation.
				The Administrator or presiding officer shall determine the order in which the
				parties shall present their case and evidence. Unless otherwise ordered, the
				presentation will be agency staff followed by the respondent(s), followed by
				any intervenors, followed by the agency staff's rebuttal witnesses, if
				any.
2. Openings and closings.
				Opening and closing statements may be made, either orally or in writing, at the
				discretion of the Administrator or presiding officer.
3. Stipulations. With the approval of the
				Administrator or presiding officer, the parties may stipulate to facts at
				issue, on the record either orally or in writing, and shall be bound thereby,
				though the Administrator or presiding officer may still require proof of
				stipulated facts.
4. Evidence. The
				Administrator or presiding officer shall take evidence in accordance with the
				Maine Administrative Procedure Act,
				 5 M.R.S.A. §9057.
5. Objections. Objections shall be
				timely made and the basis of each objection shall be stated briefly on the
				record. The Administrator or presiding officer may rule on the objection at the
				time it is made or may reserve a ruling until later as appropriate.
6. Close of evidence. Once a party has rested
				its case, it may introduce no further evidence without the Administrator's or
				presiding officer's consent.
7.
				Conduct of Persons Appearing at Hearings
A.
				All persons appearing at a hearing before the Administrator or presiding
				officer shall conform to the conduct expected in the Superior Court of the
				State of Maine.
B. Contemptuous,
				disorderly, or improper conduct by any person appearing at a hearing shall be
				grounds for the Administrator or presiding officer to exclude or expel that
				person from the hearing or to take other appropriate action.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 540 - ADJUDICATORY PROCEEDINGS RULE › Section 032-540-18 - Representation

Current through 2024-29, July 17, 2024
1. Pro se representation. An individual may
				appear on the individual's own behalf.
2. Attorneys. A party may be represented by
				an attorney authorized to practice law in Maine.
3. Notice of appearance. An attorney who
				appears in a representative capacity shall enter an appearance by filing a
				written notice of appearance setting forth:
(A) the attorney's name, business address,
				telephone number, fax number, and e-mail address; and
(B)the name and address of the party
				represented.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 540 - ADJUDICATORY PROCEEDINGS RULE › Section 032-540-19 - Failures to Appear; Grounds for Default

Current through 2024-29, July 17, 2024
1. General
				rule. In accordance with
				 5 M.R.S.A.
				§9053(3), the
				Administrator or presiding officer may dispose of an adjudicatory proceeding by
				default against any party that fails to timely request a hearing, appear at a
				scheduled hearing or conference, participate in the proceeding, take any
				required action, or comply with the agency's orders, rules, or directions in
				connection with that proceeding. In the alternative, where a party fails to
				appear for a scheduled hearing or conference, the Administrator may proceed to
				hold the hearing or conference and render decisions in that party's
				absence.
2. Party's appearance.
				Where a party is represented by an attorney, the party is not excused from
				appearing at a scheduled hearing unless the Administrator or presiding officer,
				in his/her discretion and for good cause shown, orders that the party may be so
				excused.
3. Telephone or video
				appearance. When a party has been allowed to appear at a hearing or conference
				by telephone, video, or other electronic means, the party fails to appear
				within the meaning of this section if, for more than 10 minutes after the
				scheduled time of the hearing or conference, the party fails to (A) answer or
				free the telephone, (B) appear at the videotaping site, or (C) otherwise be
				prepared to proceed with the hearing or conference as scheduled.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 540 - ADJUDICATORY PROCEEDINGS RULE › Section 032-540-20 - Ex Parte Communications

Current through 2024-29, July 17, 2024
In accordance with the Maine Administrative Procedure Act,
				   5 M.R.S.A.
				  §9055, parties may not communicate
				  directly or indirectly, in connection with any issue of fact, law or procedure,
				  with the Administrator or presiding officer, except upon notice and opportunity
				  for all parties to participate. This section does not prohibit parties from
				  communicating with other staff members of the Office of
				  Securities.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 540 - ADJUDICATORY PROCEEDINGS RULE › Section 032-540-21 - Effective Date

Current through 2024-29, July 17, 2024
1. General rule.
				This rule governs those adjudicatory proceedings pending on or commenced after
				the effective date, except to the extent that in the opinion of the
				Administrator or presiding officer the application of one or more provisions of
				this rule in a particular proceeding pending when the rule took effect would
				not be feasible or would work injustice, in which event the Administrator or
				presiding officer need not abide by those provisions.
2. Amendments. Amendments to this rule will
				govern those adjudicatory proceedings pending on or commenced after the
				effective date, except to the extent that in the opinion of the Administrator
				or presiding officer the application of one or more of the amendments in a
				particular proceeding pending when the amendment took effect would not be
				feasible or would work injustice, in which event the Administrator or presiding
				officer need not abide by those amendments.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 541 - INITIAL AND ANNUAL RENEWAL FEES › Section 032-541-1 - Initial License or Notice Fees

Current through 2024-29, July 17, 2024
Initial licensing or notice fees are hereby set by the
				  Securities Administrator as follows:
1. Broker-dealer, $250;
2. Agent, $50;
3. Investment adviser, $200;
4. Federal covered investment adviser,
				$200;
5. Investment adviser
				representative, $50; and
6. Each
				branch office in this State, as defined in
				32 M.R.S.A.
				§16410(1)(F),
				$50.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 541 - INITIAL AND ANNUAL RENEWAL FEES › Section 032-541-2 - Annual Renewal Fees

Current through 2024-29, July 17, 2024
Annual renewal fees are hereby set by the Securities
				  Administrator as follows:
1.
				Broker-dealer, $250;
2. Agent,
				$25;
3. Investment adviser,
				$200;
4. Federal covered investment
				adviser, $200;
5. Investment
				adviser representative, $25; and
6. Each branch office in this State, as
				defined in
				32 M.R.S.A.
				§16410(1)(F),
				$30.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 542 - MODEL RESCISSION OFFER FORMS › Section 032-542-1 - Scope of Rule

Current through 2024-29, July 17, 2024
Pursuant to
				   32 M.R.S.A.
				  §16510, an action under
				   32 M.R.S.A.
				  §16509 may not be maintained if a
				  rescission offer is received before the action is instituted. While many types
				  of actions may be maintained under
				   32 M.R.S.A.
				  §16509, this rule adopts model language
				  for the two most prevalent types of rescission offers made:
(1) rescission for offering or selling
				unregistered securities; and (2) rescission for offers or sales of securities
				by unlicensed broker-dealers or agents. Rescission offers made for any other
				action contemplated by
				 32 M.R.S.A.
				§16509 must comply with
				 32 M.R.S.A.
				§16510(1) and contain
				the information specified in that section.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 542 - MODEL RESCISSION OFFER FORMS › Section 032-542-2 - Adoption

Current through 2024-29, July 17, 2024
Pursuant to
				   32 M.R.S.A.
				  §16510(2), the
				  Securities Administrator hereby adopts the "Unregistered Security Rescission
				  Offer Form," revised July 27, 2005, and the "Unlicensed Broker-Dealer
				  Rescission Offer Form," revised July 27, 2005, as model forms that may be used
				  to offer rescission to investors pursuant to
				   32 M.R.S.A.
				  §16510. The adoption of these model
				  forms does not preclude the use of another format that complies with
				   32 M.R.S.A.
				  §16510(1) and contains
				  the information specified in that section.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 032 - OFFICE OF SECURITIES › Chapter 542 - MODEL RESCISSION OFFER FORMS › Section 032-542-3 - Location of Incorporated Matter

Current through 2024-29, July 17, 2024
Copies of the "Unregistered Security Rescission Offer Form"
				  and the "Unlicensed Broker-Dealer Rescission Offer Form," incorporated by
				  reference into this rule, are available at no charge on the Maine Office of
				  Securities website:
http://www.maine.gov/pfr/securities/forms.htm
.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 300 - GENERAL INFORMATION › Section 039-300-1 - Meetings

Current through 2024-29, July 17, 2024
Meetings shall be called by the Chairman or a majority of the
				  members whenever such meetings are deemed necessary for carrying out the
				  business of the Commission, but the Commission shall not meet less than four
				  times a year.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 300 - GENERAL INFORMATION › Section 039-300-2 - Meeting Notices

Current through 2024-29, July 17, 2024
The Director shall be responsible for distributing meeting
				  notices to the members and to others as required by statute or rule. Notices
				  may also be provided to others deemed to have an interest in the business
				  before the Commission.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 300 - GENERAL INFORMATION › Section 039-300-3 - Meeting Agendas

Current through 2024-29, July 17, 2024
A. An agenda for
				meetings shall be prepared by the Director and shall include business requiring
				consideration or action by the members. The agenda shall also include all
				business items requested by the members provided such request is received by
				the Director at least seven (7) days in advance of the meeting.
B. Business not included on the agenda may be
				considered following an affirmative vote of a majority of the members
				present.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 300 - GENERAL INFORMATION › Section 039-300-4 - Records

Current through 2024-29, July 17, 2024
The Director shall have custody of the Commission seal and
				  shall maintain a record of all business conducted by the Commission. The
				  Director shall preserve, subject to the provisions of 5 M.R.S.A. Chapter 6, all
				  books, documents and papers entrusted to his care. Records shall be opened to
				  public inspection subject to 1 M.R.S.A. Chapter 13. Delays in making records
				  available for inspection may be occasioned by action necessary to preserve the
				  security of records, to obtain legal advice, or to avoid disrupting regular
				  business activities and for these reasons it is recommended that requests be
				  submitted three (3) business days in advance of anticipated inspection.
Access to written communication with the Assistant Attorney
				  General, criminal history records, materials relating to license examinations
				  and other records may be restricted subject to 1 M.R.S.A. Chapter
				  13.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 300 - GENERAL INFORMATION › Section 039-300-5 - Filing of Applications, Documents and Fees

Current through 2024-29, July 17, 2024
Whenever the statutes or rules specify filing with the
				  Commission it shall be construed to mean the Director of the Commission. The
				  Director shall be responsible for transmitting the information to the members
				  if notice or action by the members is required. Timely filing with the Director
				  shall be considered timely filing with the members.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 300 - GENERAL INFORMATION › Section 039-300-6 - Chairman

Current through 2024-29, July 17, 2024
The Chairman shall be elected by the members at the first
				  meeting in December of each year and shall take office on the following January
				  1st. The Commission members may also elect a Vice Chairman to preside over
				  meetings in the absence of the Chairman.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 310 - ADVISORY RULINGS › Section 039-310-1 - Authority and Scope

Current through 2024-29, July 17, 2024
The Commission may issue an advisory ruling pursuant to
				   5 M.R.S.A.
				  §9001 concerning the applicability to an
				  existing factual situation of any statutes or rules it administers. Each
				  request shall be reviewed individually by the Director to determine whether an
				  advisory ruling is appropriate. The Director may decline the request for an
				  advisory ruling when the question is hypothetical, if there is insufficient
				  experience upon which to base a ruling, or for any other reason deemed proper.
				  The denial of a request may be appealed to the Commission by providing written
				  notice to the Director within twenty (20) days following the
				  denial.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 310 - ADVISORY RULINGS › Section 039-310-2 - Submission

Current through 2024-29, July 17, 2024
A request for an advisory ruling shall be submitted to the
				  Director in writing and shall set forth in detail all facts pertinent to the
				  question. The Director may require additional information as necessary to
				  complete a factual background for a ruling of the Commission.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 310 - ADVISORY RULINGS › Section 039-310-3 - Acknowledgment

Current through 2024-29, July 17, 2024
A request for an advisory ruling shall be acknowledged by the
				  Director within ten (10) days of receipt. Within thirty (30) days the Director
				  shall provide notification that a request for ruling shall or shall not be
				  presented to the Commission, or the Director may request additional information
				  which is necessary to determine whether or not an advisory ruling is
				  appropriate.
An advisory ruling shall be in writing and shall include a
				  statement of facts or assumptions, or both, upon which the ruling is based. The
				  statement, without reference to other documents, shall be sufficiently detailed
				  to allow understanding of the basis of the opinion. A ruling shall be rendered
				  with the assent of four (4) members of the Commission. An advisory ruling shall
				  be signed by the Chairman of the Commission, shall be identified specifically
				  as an advisory ruling, and shall be numbered serially.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 310 - ADVISORY RULINGS › Section 039-310-4 - Disposition

Current through 2024-29, July 17, 2024
An advisory ruling shall be mailed to the requesting party
				  and a copy shall be kept by the Director. An advisory ruling is a public
				  document and shall be available for public inspection during normal working
				  hours of the Commission. In addition, the Commission, as it deems appropriate,
				  may otherwise publish or circulate an advisory ruling.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 340 - COMPLAINTS AND INVESTIGATIONS › Section 039-340-1 - Verified Complaints

Current through 2024-29, July 17, 2024
A copy of a written verified complaint, signed under oath,
				  alleging activities in violation of 32 M.R.S.A. Chapter 114 or concerning the
				  qualifications of any Commission licensee, shall be sent by regular mail to the
				  last known address of the person against whom the complaint is filed and his
				  designated broker together with a request for a written response to the
				  allegation. The investigation may also include such other inquiries as may be
				  deemed appropriate in order to complete the processing of the complaint
				  according to the provisions of
				   32 M.R.S.A.
				  §13067 or §
									13174.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 340 - COMPLAINTS AND INVESTIGATIONS › Section 039-340-2 - Other Investigations

Current through 2024-29, July 17, 2024
An investigation may be conducted based upon information
				  other than a verified complaint if such information provides prima facie
				  evidence of a violation of 32 M.R.S.A. Chapter 114, or if the information
				  raises a substantial question regarding the qualifications of any applicant or
				  licensee.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 340 - COMPLAINTS AND INVESTIGATIONS › Section 039-340-3 - Member Request for Investigation

Current through 2024-29, July 17, 2024
A member of the Commission may file a complaint or request an
				  investigation, but such complaint or request shall serve to disqualify the
				  member from participating in a hearing or a consent agreement regarding the
				  issue. He shall be prohibited from discussing the issue with other members,
				  except as a witness or party, until after final agency action and the time for
				  appeal has lapsed or appeal rights have been exhausted.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 340 - COMPLAINTS AND INVESTIGATIONS › Section 039-340-4 - Prohibited Communications

Current through 2024-29, July 17, 2024
The members shall avoid discussing, except with adequate
				  notice and opportunity for all parties to participate, any specific case under
				  investigation, or any case which may reasonably be expected to be the subject
				  of investigation, until after final agency action and the time for filing an
				  appeal has lapsed or appeal remedies have been exhausted.
This rule shall not be construed to limit the members at
				  Commission meetings from discussion among themselves or with the attorney for
				  the Commission. These rules shall not be construed to limit communications
				  regarding closed matters, investigations in general, inquiries regarding the
				  status of a specific case, or other matters not relating to issues of fact or
				  law concerning a specific case.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 350 - ADJUDICATORY HEARINGS › Section 039-350-1 - Hearings in General

Current through 2024-29, July 17, 2024
Commission hearings shall conform to the Administrative
				  Procedures Act 5 M.R.S.A. Chapter 375.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 350 - ADJUDICATORY HEARINGS › Section 039-350-2 - Duties and Responsibilities of the Chairman

Current through 2024-29, July 17, 2024
The Chairman or an alternate designated by the Commission
				  shall preside at a hearing in a manner affording consideration of fair play and
				  compliance with the constitutional requirements of due process. The Chairman
				  shall also have authority to:
A. Hold
				a conference for the simplification of issues;
B. Issue subpoenas requested by the
				parties;
C. Place witnesses under
				oath;
D. Take action necessary to
				maintain order;
E. Rule on motions
				and procedural questions arising during the hearing;
F. Call recesses or adjourn the hearing;
				and
G. Prescribe and enforce
				general rules of conduct and decorum.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 350 - ADJUDICATORY HEARINGS › Section 039-350-3 - Role of Commission Members

Current through 2024-29, July 17, 2024
The members collectively shall be responsible for reviewing
				  evidence and hearing testimony and argument in order to:
A. Determine whether or not the alleged
				conduct was supported by the evidence;
B. Determine whether or not the conduct was a
				violation of 32 M.R.S.A. Chapter 114 and/or related rules;
C. Determine and impose appropriate
				sanctions; and
D. Determine whether
				or not to issue cease and desist orders, and to issue such orders.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 350 - ADJUDICATORY HEARINGS › Section 039-350-4 - Ex Parte Communications

Current through 2024-29, July 17, 2024
A member shall not discuss an issue of fact or law concerning
				  a case or pending appeal which comes before the Commission, except with notice
				  and opportunity for participation by all parties. This rule shall not be
				  construed to limit a discussion that does not relate to the merits of a case,
				  such as scheduling or procedural issues. A member shall not be limited from
				  discussing a case at meetings with the attorney for the
				  Commission.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 350 - ADJUDICATORY HEARINGS › Section 039-350-5 - Parties

Current through 2024-29, July 17, 2024
Parties in a Commission hearing, with the exception of the
				  Director or the Director's designee and an intervenor, shall be limited
				  to:
A. The person against whom the
				allegation is made; or
B. The
				person whose qualifications are in question.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 350 - ADJUDICATORY HEARINGS › Section 039-350-6 - Intervention

Current through 2024-29, July 17, 2024
An application for intervention in a Commission proceeding
				  shall be filed, except for good cause shown, at least seven (7) days in advance
				  of the scheduled hearing. Rulings by the Chairman shall be subject to the
				  provisions of
				   5 M.R.S.A.
				  §9054.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 350 - ADJUDICATORY HEARINGS › Section 039-350-7 - Order of Proceedings

Current through 2024-29, July 17, 2024
The order of proceedings, unless modified by the Chairman to
				  facilitate the hearing, shall be as follows:
A. The party bringing the action may offer an
				opening statement;
B. The party
				defending against the action may offer an opening statement;
C. The party presenting evidence in support
				of the action may offer his case;
D. The party defending against the action may
				cross examine each witness;
E. The
				party defending against the action may offer his case;
F. The party in support of the action may
				cross examine each witness; and
G.
				Each party may offer a closing statement at the hearing or in writing within
				seven (7) business days following the hearing.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 350 - ADJUDICATORY HEARINGS › Section 039-350-8 - Subpoenas

Current through 2024-29, July 17, 2024
A party shall be entitled to the issuance of subpoenas in the
				  name of the Commission subject to the provisions of
				   5 M.R.S.A.
				  §9060. Subpoenas shall be requested,
				  except for good cause, at least ten (10) days in advance of a scheduled
				  hearing. Subpoenaed witnesses shall be paid the same fees for attendance and
				  travel as in civil cases before the courts. Fees shall be paid by the party
				  requesting the subpoenas when the request is submitted.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 350 - ADJUDICATORY HEARINGS › Section 039-350-9 - Appeals of Director's Decisions

Current through 2024-29, July 17, 2024
The decision of the Director may be appealed in any of the
				  following circumstances:
A. Denial of
				an examination for licensing; or,
B. Denial of a license or license renewal.
The appeal for a hearing before the Commission shall be in
				  writing within thirty (30) days following the receipt of the decision of the
				  Director.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 350 - ADJUDICATORY HEARINGS › Section 039-350-10 - Notice of Hearings

Current through 2024-29, July 17, 2024
Notice of a hearing shall be given to all parties at least
				  ten (10) days prior to the date on which the hearing is to be
				  held.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 360 - PREREQUISITES TO LICENSURE BY INDIVIDUALS › Section 039-360-1 - Policy Statement

Current through 2024-29, July 17, 2024
The Commission shall encourage the development and delivery
				  of high quality pre-licensure courses throughout the state. In an effort to
				  heighten professionalism within the real estate industry, the Commission shall
				  encourage degree-granting institutions in the state to develop and deliver such
				  courses
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 360 - PREREQUISITES TO LICENSURE BY INDIVIDUALS › Section 039-360-2 - Definitions

Current through 2024-29, July 17, 2024
1.
Qualifying Educational
				Program
"Qualifying educational program" means a program or course of
				  study which meets one or more of the minimum competencies defined in the
				  Commission-approved models entitled "The Sales Agent Course," "The Associate
				  Broker Course" or "The Designated Broker Course." These courses shall be
				  sponsored by a degree-granting institution, a proprietary school or a public
				  school adult education program that follows the Commission-established
				  procedure for approval.
2.
Program Sponsor
A program sponsor shall be defined as that individual, group
				  of individuals, or organization responsible for the development, coordination,
				  administration and delivery of a course or program.
3.
Satisfactory Completion
Satisfactory completion of a course or program shall mean
				  having met all minimum requirements established by the sponsor for the course
				  or program and having achieved a grade of at least 75%.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 360 - PREREQUISITES TO LICENSURE BY INDIVIDUALS › Section 039-360-3 - Approval of Qualifying Educational Program

Current through 2024-29, July 17, 2024
1.
Syllabus
The program sponsor shall submit the course syllabus, on a
				  form furnished by the director, meeting the minimum course competencies set for
				  each course as described in Section
				  5 of this chapter for each
				  pre-licensure course offered. The syllabus, at a minimum, must contain:
A. Name, address, phone number of the
				sponsor;
B. Name, address, phone
				number of the instructor;
C. Course
				title;
D. Course start and end
				dates;
E. Class session
				times;
F. Course text titles and
				publishers;
G. A class
				session-by-session breakdown of the content and concepts to be covered, with
				quiz and test dates noted;
H.
				Grading policy;
I. Attendance
				policy; and
J. Final course
				examination and answer key.
The course sponsor shall submit the syllabus and the filing
				  fee to the director at least 30 days prior to the first class session. A
				  syllabus received less than 30 days prior to the first class session will be
				  assessed a late filing fee.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 360 - PREREQUISITES TO LICENSURE BY INDIVIDUALS › Section 039-360-4 - Educational Requirements For Licensure

Current through 2024-29, July 17, 2024
1.
Real Estate Broker
A. An
				applicant who has been licensed as an associate broker affiliated with a real
				estate brokerage agency for 2 years within the 5 years immediately preceding
				the date of application must submit evidence of satisfactory completion of a
				qualifying educational program which covers the minimum competencies defined in
				the Commission-approved model entitled "The Designated Broker Course." The
				application for licensure must be submitted within one year of completion of
				this educational program.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 360 - PREREQUISITES TO LICENSURE BY INDIVIDUALS › Section 039-360-5 - Commission Established Minimum Competencies

Current through 2024-29, July 17, 2024
1.
Generally
The Commission shall establish minimum competency
				  requirements for all levels and types of licensure. Educational models and
				  examinations shall be designed to satisfy these requirements.
2.
Annual Review
The Commission, on an annual basis, shall review the minimum
				  competencies required for all levels and types of licensure.