§9-305. Interest to be paid on funds held in escrow
A creditor, including any of its assignees, that enters into consumer credit transactions 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 1987, c. 396, §12 (NEW).]
SECTION HISTORY
PL 1987, c. 396, §12 (NEW).
Structure Maine Revised Statutes
TITLE 9-A: MAINE CONSUMER CREDIT CODE
Part 3: REGULATION OF AGREEMENTS AND PRACTICES
9-A §9-302. Terms and conditions of consumer credit transactions; rulemaking
9-A §9-304. Servicing requirements of assigned consumer credit transactions
9-A §9-305. Interest to be paid on funds held in escrow
9-A §9-305-A. Timely payments from escrow
9-A §9-305-B. Timely responses to requests for payoff figures
9-A §9-306. Notice of assignment
9-A §9-307. Receipts; statements of account; evidence of payment
9-A §9-309. Real estate appraisals; copies
9-A §9-310. Privacy of consumer financial information
9-A §9-311. Choice of accounting, tax or attest services provider
9-A §9-311-A. Real estate settlement procedures