Maine § 701. - Business prohibited
Full text of Maine Maine Revised Statutes § 701. — Business prohibited, with citation guidance and answers to common questions.
§ 701.. Business prohibited
1. Budget planning prohibited. Except as provided in subsection 2, a person, firm, association or corporation may not engage in the business of budget planning on behalf of a consumer.
2. Exceptions. This chapter does not apply to:
A. A person admitted to the practice of law in this State as of the effective date of this section, except to the extent that budget planning or debt management services constitute the exclusive activity of that attorney; [PL 1999, c. 560, §1 (NEW).]
B. A supervised financial organization as defined in Title 9‑A, section 1‑301, subsection 38-A; [PL 1999, c. 560, §1 (NEW).]
C. A supervised lender as defined in Title 9‑A, section 1‑301, subsection 39; or [PL 1999, c. 560, §1 (NEW).]
D. Any organization that is registered with the State as a debt management service provider under Title 32, chapter 80-A. [PL 1999, c. 560, §1 (NEW).]
Frequently Asked Questions About Maine § 701.
What does Maine Revised Statutes § 701. cover?
Section 701. ("Business prohibited") is part of the Maine Revised Statutes, the codified statutory law of Maine. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maine § 701.?
A common citation format is "Maine Revised Statutes § 701." (Maine). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maine law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maine official source linked on this page or consult a licensed Maine attorney.
How does Maine § 701. apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maine can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maine.