Structured Settlement Transferees FAQs

For more information, visit our section for Structured Settlement Transferees.

How do we print our license?

Licensees cannot print their own license.  However, the current process is for us to email a copy of the license to the primary/business email address provided at the time of application.  If the email is invalid or there is no email address on file, a paper invoice will be mailed. The email will generally be sent within 24-72 hours after license approval.  Renewal licenses will only be sent upon request.

How do we renew our license? What is the fee?

Please wait to receive you renewal invoice via email and follow the instructions on the invoice.  Invoices are emailed 90 days prior to the renewal due date. Licenses cannot be renewed more than 90 days prior to the renewal date.  Renewal Dates and Fees can be found here.

How do we change our contact information?

Address/contact information can be changed 1 of 2 ways:

  1. Electronically via ALMS Online with an access code. This will change your information for Maine only.
  2. Via paper form which can be faxed, e-mailed or mailed to the Bureau of Insurance. This will change your information for Maine only.

How do we obtain our Access Code?

Access Codes are printed on all new licenses. If you do not have your access code, please submit your request via email at insurance.pfr@maine.gov or call 207-624-8475 and request Producer Licensing.

How do we terminate our license?

Please complete the Business Entity Voluntary Termination Form (PDF) or Business Entity Voluntary Termination Form (DOCX).

How do we submit an application?

Applications can be submitted by paper only and can be found on our website here (PDF). Once completed, you may submit by email, fax or regular mail.

What are the application fees?

The initial license fee for both resident and non-resident structured settlement transferee is $100.

Our business entity has had a name change.  What do we do?

If there is no change to the Federal Tax ID number (FEIN) for the entity, simply complete the Business Entity Name Change Form (PDF) or Business Entity Name Change Form (DOCX).

There is no fee -UNLESS you want a new license printed- the fee is then $10.  If, however, there is a change to the FEIN, it is considered a new entity and you must go through the application process.

Are we required to provide Service of Process information?

Yes. The entity must name a Service of Process contact located in Maine. If the Service of Process information changes after becoming licensed, the entity will have 10 days to provide the updated information.

How do we contact the Licensing Section?