32 M.R.S. §6100-S: Surety bond

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.