Maine Revised Statutes
Part 3: PROPERTY AND LIABILITY INSURANCE
9-A §4-302. Insurance on creditor's interest only

§4-302. Insurance on creditor's interest only
If a creditor contracts for or receives a separate charge for insurance against loss of or damage to property, the risk of loss or damage not willfully caused by the consumer is on the consumer only to the extent of any deficiency in the effective coverage of the insurance, even though the insurance covers only the interest of the creditor.   [PL 1973, c. 762, §1 (NEW).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW).

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Structure Maine Revised Statutes

Maine Revised Statutes

TITLE 9-A: MAINE CONSUMER CREDIT CODE

Article 4: INSURANCE

Part 3: PROPERTY AND LIABILITY INSURANCE

9-A §4-301. Property insurance

9-A §4-302. Insurance on creditor's interest only

9-A §4-303. Liability insurance (REPEALED)

9-A §4-304. Cancellation by creditor