§3-312. Interest to be paid on funds held in escrow
A supervised lender, including any of its assignees, that makes loans secured by a mortgage on real estate and which holds funds of a mortgagor in an escrow account for the payment of taxes or insurance premiums, either on its own behalf or on behalf of another mortgagee, shall pay interest on those funds in accordance with Title 9‑B, section 429. [PL 1983, c. 679, §1 (NEW).]
SECTION HISTORY
PL 1983, c. 679, §1 (NEW).
Structure Maine Revised Statutes
TITLE 9-A: MAINE CONSUMER CREDIT CODE
Article 3: REGULATION OF AGREEMENTS AND PRACTICES
Part 3: LIMITATIONS ON AGREEMENTS AND PRACTICES
9-A §3-301. Security in sales or leases
9-A §3-303. Debt secured by cross-collateral
9-A §3-304. Use of multiple agreements
9-A §3-305. No assignment of earnings
9-A §3-306. Authorization to confess judgment prohibited
9-A §3-307. Certain negotiable instruments prohibited
9-A §3-308. Schedule of payments; balloon payments
9-A §3-310. Variable rate transactions
9-A §3-311. Consumer's choice of attorney in residential mortgage transaction
9-A §3-312. Interest to be paid on funds held in escrow
9-A §3-313. Real estate appraisals; copies
9-A §3-314. Privacy of consumer financial information
9-A §3-315. Choice of accounting, tax or attest services provider