Maine Revised Statutes
Part 3: REGULATION OF PRACTICES
9-A §10-303. Requirement for written disclosure

§10-303. Requirement for written disclosure
Before any agreement is entered into, or before any money is paid by a consumer, whichever occurs first, the loan broker shall provide the consumer with written disclosure of material consumer protections, including the following:   [PL 2005, c. 274, §10 (AMD).]
1.  The existence and purpose of the surety bond on file with the State, and the procedure for instituting an action against that bond;  
[PL 1989, c. 70, §3 (NEW).]
2.  The requirement that all fees from the consumer, other than bona fide 3rd-party fees, be placed in an escrow account; and  
[PL 1989, c. 70, §3 (NEW).]
3.  The requirement for a written, signed agreement between the parties.  
[PL 1989, c. 70, §3 (NEW).]
SECTION HISTORY
PL 1989, c. 70, §3 (NEW). PL 2005, c. 274, §10 (AMD).

Structure Maine Revised Statutes