2019 Maine Revised Statutes
TITLE 9-A: MAINE CONSUMER CREDIT CODE
Article 14: STUDENT LOAN BILL OF RIGHTS
9-A §14-105. Annual report (WHOLE SECTION TEXT EFFECTIVE 1/1/20)

§14-105. Annual report

(CONTAINS TEXT WITH VARYING EFFECTIVE DATES)

(WHOLE SECTION TEXT EFFECTIVE 1/1/20)

The superintendent shall submit a report by January 1st of each year to the joint standing committees of the Legislature having jurisdiction over education and cultural affairs and insurance and financial services matters. The report must include:   [PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).]

1.  Implementation.  A description of actions taken with respect to the implementation of this Article;  

[PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).]

2.  Effectiveness.  An assessment of the overall effectiveness of the student loan ombudsman, including information, in the aggregate, regarding student loan borrower complaints investigated with the assistance of an organization that is exempt from this Article pursuant to section 14-107, subsection 1;  

[PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).]

3.  Funding.  An accounting of the funding for the program, including the license, examination and investigation fees collected pursuant to this Article, and whether those funds are adequate for or are in excess of the costs of carrying out the duties of this Article; and  

[PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).]

4.  Additional steps.  Recommendations regarding additional steps for the Department of Professional and Financial Regulation to gain regulatory control over licensing and enforcement with respect to student loan servicers.  

[PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).]

5.  Additional steps.  Recommendations regarding additional steps for the Department of Professional and Financial Regulation to gain regulatory control over licensing and enforcement with respect to student loan servicers.  

[PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).]

SECTION HISTORY

PL 2019, c. 431, §2 (NEW). PL 2019, c. 431, §4 (AFF).