Maine Revised Statutes
TITLE 9-A: MAINE CONSUMER CREDIT CODE

9-A §2-201. Finance charge for consumer credit sales other than open-end credit - §2-201. Finance charge for consumer credit sales other than open-end...

9-A §2-202. Finance charge for consumer credit sales pursuant to open-end credit - §2-202. Finance charge for consumer credit sales pursuant to open-end...

Part 3: CONSUMER LOANS: SUPERVISED LENDERS

9-A §2-301. Authority to make or service supervised loans - §2-301. Authority to make or service supervised loans Unless a...

9-A §2-302. License to make or service supervised loans - §2-302. License to make or service supervised loans 1. The...

9-A §2-303. Revocation or suspension of license - §2-303. Revocation or suspension of license 1. The administrator may...

9-A §2-303-A. Temporary suspension of license - §2-303-A. Temporary suspension of license Notwithstanding Title 5, sections 10003...

9-A §2-304. Records; annual and quarterly reports - §2-304. Records; annual and quarterly reports 1. [PL 1985, c....

9-A §2-305. Examinations and investigations (REPEALED) - §2-305. Examinations and investigations (REPEALED) SECTION HISTORY PL 1973, c....

9-A §2-306. Application of administrative procedure (REPEALED) - §2-306. Application of administrative procedure (REPEALED) SECTION HISTORY PL 1973,...

9-A §2-307. Restrictions on interest in land as security - §2-307. Restrictions on interest in land as security 1. With...

9-A §2-308. Regular schedule of payments; maximum loan term - §2-308. Regular schedule of payments; maximum loan term 1. Except...

9-A §2-309. No other business for purpose of evasion - §2-309. No other business for purpose of evasion A supervised...

9-A §2-310. Servicing requirements of assigned supervised loans - §2-310. Servicing requirements of assigned supervised loans No supervised loan...

Part 4: CONSUMER LOANS: MAXIMUM FINANCE CHARGES

9-A §2-401. Finance charge for consumer loans - §2-401. Finance charge for consumer loans 1. [PL 1987, c....

9-A §2-402. Finance charge for loans on open-end credit - §2-402. Finance charge for loans on open-end credit 1. With...

Part 5: CONSUMER CREDIT TRANSACTIONS: OTHER CHARGES AND MODIFICATIONS

9-A §2-501. Additional charges - §2-501. Additional charges 1. In addition to the finance charge...

9-A §2-502. Delinquency charges - §2-502. Delinquency charges 1. A creditor may contract for and...

9-A §2-503. Deferral charges - §2-503. Deferral charges As used in this section and in...

9-A §2-504. Finance charge on refinancing - §2-504. Finance charge on refinancing With respect to a consumer...

9-A §2-505. Finance charge on consolidation - §2-505. Finance charge on consolidation 1. If a consumer owes...

9-A §2-506. Advances to perform covenants of consumer - §2-506. Advances to perform covenants of consumer 1. If the...

9-A §2-507. Attorney's fees and collection costs - §2-507. Attorney's fees and collection costs 1. With respect to...

9-A §2-508. Conversion to open end credit - §2-508. Conversion to open end credit The parties may agree...

9-A §2-509. Right to prepay - §2-509. Right to prepay Subject to the provisions on rebate...

9-A §2-510. Rebate upon prepayment - §2-510. Rebate upon prepayment 1. Except as provided in subsection...

Part 6: OTHER CREDIT TRANSACTIONS

9-A §2-601. Finance charge for other credit transactions - §2-601. Finance charge for other credit transactions Except where otherwise...

Part 7: FRAUDULENT PRACTICES

9-A §2-701. Engaging in pretense to evade requirements of this Article prohibited - §2-701. Engaging in pretense to evade requirements of this Article...

9-A §2-702. Purporting to act as agent or service provider for another entity exempt from this Article - §2-702. Purporting to act as agent or service provider for...

Article 3: REGULATION OF AGREEMENTS AND PRACTICES

Part 1: GENERAL PROVISIONS

9-A §3-101. Short title - §3-101. Short title This Article shall be known and may...

9-A §3-102. Scope - §3-102. Scope Parts 2, 3 and 4 of this Article...

Part 2: DISCLOSURE

9-A §3-201. Advertising - §3-201. Advertising 1. No creditor may engage in this State...

9-A §3-202. Entitlement to copy of written agreement - §3-202. Entitlement to copy of written agreement When a written...

9-A §3-203. Notice of assignment - §3-203. Notice of assignment The consumer is authorized to pay...

9-A §3-204. Change in terms of open-end credit accounts - §3-204. Change in terms of open-end credit accounts 1. If...

9-A §3-205. Receipts; statements of account; evidence of payment - §3-205. Receipts; statements of account; evidence of payment 1. The...

9-A §3-206. Notice to cosigners and similar parties - §3-206. Notice to cosigners and similar parties 1. Notice required....

Part 3: LIMITATIONS ON AGREEMENTS AND PRACTICES

9-A §3-301. Security in sales or leases - §3-301. Security in sales or leases 1. With respect to...

9-A §3-302. Cross-collateral - §3-302. Cross-collateral 1. In addition to contracting for a security...

9-A §3-303. Debt secured by cross-collateral - §3-303. Debt secured by cross-collateral 1. If debts arising from...

9-A §3-304. Use of multiple agreements - §3-304. Use of multiple agreements 1. A creditor may not...

9-A §3-305. No assignment of earnings - §3-305. No assignment of earnings 1. A creditor may not...

9-A §3-306. Authorization to confess judgment prohibited - §3-306. Authorization to confess judgment prohibited No agreement for a...

9-A §3-307. Certain negotiable instruments prohibited - §3-307. Certain negotiable instruments prohibited With respect to a consumer...

9-A §3-308. Schedule of payments; balloon payments - §3-308. Schedule of payments; balloon payments With respect to a...

9-A §3-309. Referral sales - §3-309. Referral sales With respect to a consumer credit sale...

9-A §3-310. Variable rate transactions - §3-310. Variable rate transactions 1. In connection with a consumer...

9-A §3-311. Consumer's choice of attorney in residential mortgage transaction - §3-311. Consumer's choice of attorney in residential mortgage transaction Every...

9-A §3-312. Interest to be paid on funds held in escrow - §3-312. Interest to be paid on funds held in escrow...

9-A §3-313. Real estate appraisals; copies - §3-313. Real estate appraisals; copies A creditor that imposes a...

9-A §3-314. Privacy of consumer financial information - §3-314. Privacy of consumer financial information A creditor shall comply...

9-A §3-315. Choice of accounting, tax or attest services provider - §3-315. Choice of accounting, tax or attest services provider A...

9-A §3-316. Real estate settlement procedures - §3-316. Real estate settlement procedures A creditor and its mortgage...

Part 4: LIMITATIONS ON CONSUMER'S LIABILITY

9-A §3-401. Restriction on liability in consumer lease - §3-401. Restriction on liability in consumer lease The obligation of...

9-A §3-402. Limitation on default charges - §3-402. Limitation on default charges 1. The agreement with respect...

9-A §3-403. Assignee subject to defenses - §3-403. Assignee subject to defenses 1. With respect to a...

9-A §3-404. Interlocking loans - §3-404. Interlocking loans 1. A lender who makes a consumer...

9-A §3-404-A. Interlocking leases - §3-404-A. Interlocking leases 1. A lessor who enters into a...

Part 5: HOME SOLICITATION SALES

9-A §3-501. Definition: "Home solicitation sale" - §3-501. Definition: "Home solicitation sale" "Home solicitation sale" means a...

9-A §3-502. Buyer's right to cancel - §3-502. Buyer's right to cancel 1. In addition to any...

9-A §3-503. Form of agreement or offer; statement of buyer's rights - §3-503. Form of agreement or offer; statement of buyer's rights...

9-A §3-503-A. Frozen food contracts (REPEALED) - §3-503-A. Frozen food contracts (REPEALED) SECTION HISTORY PL 1991, c....

9-A §3-504. Restoration of down payment; no retention of cancellation fee - §3-504. Restoration of down payment; no retention of cancellation fee...

9-A §3-505. Duty of buyer; no compensation for services prior to cancellation - §3-505. Duty of buyer; no compensation for services prior to...

9-A §3-506. Limitation - §3-506. Limitation This Part does not apply to any consumer...

9-A §3-507. Violation as unfair trade practice - §3-507. Violation as unfair trade practice Any violation of this...

Article 4: INSURANCE

Part 1: INSURANCE IN GENERAL

9-A §4-101. Short title - §4-101. Short title This Article shall be known and may...

9-A §4-102. Scope; relation to Credit Insurance Act; applicability to parties - §4-102. Scope; relation to Credit Insurance Act; applicability to parties...

9-A §4-103. Definition: "consumer credit insurance," "Credit Insurance Act" - §4-103. Definition: "consumer credit insurance," "Credit Insurance Act" In this...

9-A §4-104. Creditor's provision of and charge for insurance; excess amount of charge - §4-104. Creditor's provision of and charge for insurance; excess amount...

9-A §4-105. Conditions applying to insurance to be provided by creditor - §4-105. Conditions applying to insurance to be provided by creditor...

9-A §4-106. Unconscionability - §4-106. Unconscionability 1. In applying the provisions of this Act...

9-A §4-107. Maximum charge by creditor for insurance - §4-107. Maximum charge by creditor for insurance 1. Except as...

9-A §4-108. Refund or credit required; amount - §4-108. Refund or credit required; amount The provisions of Title...

9-A §4-109. Existing insurance; choice of insurer - §4-109. Existing insurance; choice of insurer The provisions of Title...

9-A §4-110. Charge for insurance in connection with a refinancing or consolidation - §4-110. Charge for insurance in connection with a refinancing or...

9-A §4-111. Cooperation between administrator and Superintendent of Insurance - §4-111. Cooperation between administrator and Superintendent of Insurance The administrator...

9-A §4-112. Administrative action of Superintendent of Insurance - §4-112. Administrative action of Superintendent of Insurance 1. To the...

Part 2: CONSUMER CREDIT INSURANCE

9-A §4-201. Term of insurance - §4-201. Term of insurance The provisions of Title 24‑A, section...

9-A §4-202. Amount of insurance - §4-202. Amount of insurance The provisions of Title 24‑A, section...

9-A §4-203. Filing and approval of rates and forms - §4-203. Filing and approval of rates and forms The provisions...

9-A §4-204. Notice of right to cancel credit insurance in open-end transactions - §4-204. Notice of right to cancel credit insurance in open-end...

Part 3: PROPERTY AND LIABILITY INSURANCE

9-A §4-301. Property insurance - §4-301. Property insurance The following provisions apply to insurance provided...

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

9-A §4-303. Liability insurance (REPEALED) - §4-303. Liability insurance (REPEALED) SECTION HISTORY PL 1973, c. 762,...

9-A §4-304. Cancellation by creditor - §4-304. Cancellation by creditor A creditor shall not request cancellation...

Part 4: INSURANCE ACTIVITIES BY SUPERVISED LENDERS

9-A §4-401. Scope - §4-401. Scope 1. Scope. This Part applies to supervised lenders...

9-A §4-402. Insurance producer activities - §4-402. Insurance producer activities A supervised lender and any affiliate...

9-A §4-403. Definitions - §4-403. Definitions As used in this Part, unless the context...

9-A §4-404. Choice of insurance producer - §4-404. Choice of insurance producer A supervised lender or its...

9-A §4-405. Tie-in arrangements - §4-405. Tie-in arrangements A supervised lender, a subsidiary of a...

9-A §4-406. Distinguishing insurance products from loan products; identification of insurance producers - §4-406. Distinguishing insurance products from loan products; identification of insurance...

9-A §4-407. Rulemaking - §4-407. Rulemaking The Superintendent of Financial Institutions, the Superintendent of...

Article 5: REMEDIES AND PENALTIES

Part 1: LIMITATIONS ON CREDITORS' REMEDIES

9-A §5-101. Short title - §5-101. Short title This Article shall be known and may...

9-A §5-102. Scope - §5-102. Scope This Part applies to actions or other proceedings...

9-A §5-103. Restrictions on deficiency judgments - §5-103. Restrictions on deficiency judgments 1. This section applies to...

9-A §5-104. No garnishment before judgment - §5-104. No garnishment before judgment Prior to entry of judgment...

9-A §5-105. Limitation on garnishment - §5-105. Limitation on garnishment 1. For the purposes of this...

9-A §5-106. No discharge from employment for garnishment - §5-106. No discharge from employment for garnishment No employer shall...

9-A §5-107. Extortionate extensions of credit - §5-107. Extortionate extensions of credit 1. If it is the...

9-A §5-108. Unconscionability; inducement by unconscionable conduct - §5-108. Unconscionability; inducement by unconscionable conduct 1. With respect to...

9-A §5-109. Default - §5-109. Default An agreement of the parties to a consumer...

9-A §5-110. Notice of consumer's right to cure - §5-110. Notice of consumer's right to cure 1. With respect...

9-A §5-111. Cure of default - §5-111. Cure of default 1. With respect to a consumer...

9-A §5-112. Creditor's right to take possession after default - §5-112. Creditor's right to take possession after default Upon default...

9-A §5-113. Venue - §5-113. Venue An action against a consumer arising from a...

9-A §5-114. Stay of enforcement of judgment - §5-114. Stay of enforcement of judgment At any time after...

9-A §5-115. Misrepresentation - §5-115. Misrepresentation A creditor or a person acting for him...

9-A §5-116. Illegal, fraudulent or unconscionable conduct in attempted collection of debts - §5-116. Illegal, fraudulent or unconscionable conduct in attempted collection of...

9-A §5-116-A. Debts owed to health care providers - §5-116-A. Debts owed to health care providers 1. Definition of...

9-A §5-117. Prohibited practices - §5-117. Prohibited practices A seller may not: [PL 1991, c....

9-A §5-118. Unlicensed loan transactions - §5-118. Unlicensed loan transactions 1. Definitions. As used in this...

Part 2: CONSUMERS' REMEDIES

9-A §5-201. Effect of violations on rights of parties - §5-201. Effect of violations on rights of parties 1. If...

9-A §5-202. Refunds and penalties as set-off to obligation - §5-202. Refunds and penalties as set-off to obligation Refunds or...

Part 3: CRIMINAL PENALTIES

9-A §5-301. Violations - §5-301. Violations Any creditor, any officer or employee of a...

Article 6: ADMINISTRATION

Part 1: POWERS AND FUNCTIONS OF ADMINISTRATOR

9-A §6-101. Short title - §6-101. Short title This Article shall be known and may...

9-A §6-102. Applicability - §6-102. Applicability This Part applies to persons who in this...

9-A §6-103. Administration - §6-103. Administration There is created and established the Bureau of...

9-A §6-104. Powers of administrator; reliance on rules; duty to report - §6-104. Powers of administrator; reliance on rules; duty to report...

9-A §6-104-A. Deputy superintendent (REPEALED) - §6-104-A. Deputy superintendent (REPEALED) SECTION HISTORY PL 1981, c. 501,...

9-A §6-105. Administrative powers with respect to supervised financial organizations - §6-105. Administrative powers with respect to supervised financial organizations 1....

9-A §6-105-A. Uniform multistate automated licensing system - §6-105-A. Uniform multistate automated licensing system For the purposes of...

9-A §6-106. Examinations and investigations - §6-106. Examinations and investigations 1. The administrator may, at any...

9-A §6-107. Application of part on administrative procedure and judicial review - §6-107. Application of part on administrative procedure and judicial review...

9-A §6-108. Administrative enforcement orders - §6-108. Administrative enforcement orders 1. After notice and hearing, the...

9-A §6-109. Assurance of discontinuance - §6-109. Assurance of discontinuance If it is claimed that a...

9-A §6-110. Injunctions against violations of act - §6-110. Injunctions against violations of act The administrator, through the...

9-A §6-111. Injunctions against unconscionable agreements and fraudulent or unconscionable conduct - §6-111. Injunctions against unconscionable agreements and fraudulent or unconscionable conduct...

9-A §6-112. Temporary relief - §6-112. Temporary relief With respect to an action brought to...

9-A §6-113. Civil actions by administrator - §6-113. Civil actions by administrator 1. After demand, the administrator,...

9-A §6-114. Consumer's remedies not affected - §6-114. Consumer's remedies not affected The grant of powers to...

9-A §6-115. Venue - §6-115. Venue The administrator, through the Attorney General, may bring...

9-A §6-116. Confidentiality of records - §6-116. Confidentiality of records The following records of the Bureau...

9-A §6-117. Contracts with other state and federal agencies - §6-117. Contracts with other state and federal agencies 1. The...

Part 2: NOTIFICATION AND FEES

9-A §6-201. Applicability - §6-201. Applicability This Part applies to a person engaged in...

9-A §6-202. Notification - §6-202. Notification 1. Persons subject to this Part shall file...

9-A §6-203. Fees - §6-203. Fees 1. A person required to file notification shall...

9-A §6-204. Penalty - §6-204. Penalty 1. The administrator may impose a penalty of...

Part 3: COUNCIL OF ADVISORS ON CONSUMER CREDIT

9-A §6-301. Council of advisors on consumer credit (REPEALED) - §6-301. Council of advisors on consumer credit (REPEALED) SECTION HISTORY...

9-A §6-302. Function of council; conflict of interest (REPEALED) - §6-302. Function of council; conflict of interest (REPEALED) SECTION HISTORY...

9-A §6-303. Meetings (REPEALED) - §6-303. Meetings (REPEALED) SECTION HISTORY PL 1973, c. 762, §1...

Part 4: ADMINISTRATIVE PROCEDURE AND JUDICIAL REVIEW

9-A §6-401. Applicability and scope (REPEALED) - §6-401. Applicability and scope (REPEALED) SECTION HISTORY PL 1973, c....

9-A §6-402. Definitions in part: "contested case"; "license"; "licensing" (REPEALED) - §6-402. Definitions in part: "contested case"; "license"; "licensing" (REPEALED) SECTION...

9-A §6-403. Public information; adoption of rules; availability of rules (REPEALED) - §6-403. Public information; adoption of rules; availability of rules (REPEALED)...

9-A §6-404. Procedure for adoption of rules (REPEALED) - §6-404. Procedure for adoption of rules (REPEALED) SECTION HISTORY PL...

9-A §6-405. Taking effect of rules (REPEALED) - §6-405. Taking effect of rules (REPEALED) SECTION HISTORY PL 1973,...

9-A §6-406. Publication of rules (REPEALED) - §6-406. Publication of rules (REPEALED) SECTION HISTORY PL 1973, c....

9-A §6-407. Petition for adoption of rules (REPEALED) - §6-407. Petition for adoption of rules (REPEALED) SECTION HISTORY PL...

9-A §6-408. Declaratory judgment on validity or applicability of rules (REPEALED) - §6-408. Declaratory judgment on validity or applicability of rules (REPEALED)...

9-A §6-409. Advisory rulings by administrator (REPEALED) - §6-409. Advisory rulings by administrator (REPEALED) SECTION HISTORY PL 1973,...

9-A §6-410. Contested cases (REPEALED) - §6-410. Contested cases (REPEALED) SECTION HISTORY PL 1973, c. 762,...

9-A §6-411. Rules of evidence; official notice (REPEALED) - §6-411. Rules of evidence; official notice (REPEALED) SECTION HISTORY PL...

9-A §6-412. Decisions and orders (REPEALED) - §6-412. Decisions and orders (REPEALED) SECTION HISTORY PL 1973, c....

9-A §6-413. Licenses (REPEALED) - §6-413. Licenses (REPEALED) SECTION HISTORY PL 1973, c. 762, §1...

9-A §6-414. Judicial review of contested cases (REPEALED) - §6-414. Judicial review of contested cases (REPEALED) SECTION HISTORY PL...

9-A §6-415. Appeals (REPEALED) - §6-415. Appeals (REPEALED) SECTION HISTORY PL 1973, c. 762, §1...

Article 7: TRUTH-IN-LENDING (REPEALED)

Part 1: GENERAL PROVISIONS

9-A §7-101. Short title (REPEALED) - §7-101. Short title (REPEALED) SECTION HISTORY PL 1975, c. 446,...

9-A §7-102. Findings and declaration of purpose (REPEALED) - §7-102. Findings and declaration of purpose (REPEALED) SECTION HISTORY PL...

9-A §7-103. Definitions and rules of construction (REPEALED) - §7-103. Definitions and rules of construction (REPEALED) SECTION HISTORY PL...

9-A §7-104. Exempted transactions (REPEALED) - §7-104. Exempted transactions (REPEALED) SECTION HISTORY PL 1975, c. 446,...

9-A §7-105. Regulations (REPEALED) - §7-105. Regulations (REPEALED) SECTION HISTORY PL 1975, c. 446, §2...

9-A §7-106. Determination of finance charge (REPEALED) - §7-106. Determination of finance charge (REPEALED) SECTION HISTORY PL 1975,...

9-A §7-107. Determination of annual percentage rate (REPEALED) - §7-107. Determination of annual percentage rate (REPEALED) SECTION HISTORY PL...

9-A §7-108. Application to Federal Reserve Board (REPEALED) - §7-108. Application to Federal Reserve Board (REPEALED) SECTION HISTORY PL...

9-A §7-109. Views of other agencies (REPEALED) - §7-109. Views of other agencies (REPEALED) SECTION HISTORY PL 1975,...

9-A §7-110. Effect on other laws (REPEALED) - §7-110. Effect on other laws (REPEALED) SECTION HISTORY PL 1975,...

9-A §7-111. Criminal liability for willful and knowing violation (REPEALED) - §7-111. Criminal liability for willful and knowing violation (REPEALED) SECTION...

9-A §7-112. Penalties inapplicable to governmental agencies (REPEALED) - §7-112. Penalties inapplicable to governmental agencies (REPEALED) SECTION HISTORY PL...

9-A §7-112-A. Liability of assignees (REPEALED) - §7-112-A. Liability of assignees (REPEALED) SECTION HISTORY PL 1975, c....

9-A §7-113. Reports by administrator (REPEALED) - §7-113. Reports by administrator (REPEALED) SECTION HISTORY PL 1975, c....

9-A §7-114. General requirement of disclosure (REPEALED) - §7-114. General requirement of disclosure (REPEALED) SECTION HISTORY PL 1975,...

9-A §7-115. Form of disclosure; additional information (REPEALED) - §7-115. Form of disclosure; additional information (REPEALED) SECTION HISTORY PL...

9-A §7-116. Effect of subsequent occurrence (REPEALED) - §7-116. Effect of subsequent occurrence (REPEALED) SECTION HISTORY PL 1975,...

9-A §7-117. Right of rescission as to certain transactions (REPEALED) - §7-117. Right of rescission as to certain transactions (REPEALED) SECTION...

9-A §7-118. Content of periodic statements (REPEALED) - §7-118. Content of periodic statements (REPEALED) SECTION HISTORY PL 1975,...

9-A §7-119. Open-end consumer credit plans (REPEALED) - §7-119. Open-end consumer credit plans (REPEALED) SECTION HISTORY PL 1975,...

9-A §7-120. Sales not under open end credit plans (REPEALED) - §7-120. Sales not under open end credit plans (REPEALED) SECTION...

9-A §7-121. Consumer loans not under open-end credit plans (REPEALED) - §7-121. Consumer loans not under open-end credit plans (REPEALED) SECTION...

9-A §7-122. Civil liability (REPEALED) - §7-122. Civil liability (REPEALED) SECTION HISTORY PL 1975, c. 446,...

9-A §7-123. Written acknowledgement as proof of receipt (REPEALED) - §7-123. Written acknowledgement as proof of receipt (REPEALED) SECTION HISTORY...

9-A §7-124. Conformity with federal law (REPEALED) - §7-124. Conformity with federal law (REPEALED) SECTION HISTORY PL 1975,...

9-A §7-125. Exemption from Federal Truth-in-lending Act (REPEALED) - §7-125. Exemption from Federal Truth-in-lending Act (REPEALED) SECTION HISTORY PL...

9-A §7-126. Issuance of credit cards (REPEALED) - §7-126. Issuance of credit cards (REPEALED) SECTION HISTORY PL 1975,...

9-A §7-127. Liability of holder of credit card (REPEALED) - §7-127. Liability of holder of credit card (REPEALED) SECTION HISTORY...

Article 8: TRUTH-IN-LENDING (REPEALED)

Part 1: GENERAL PROVISIONS

9-A §8-101. Short title (REPEALED) - §8-101. Short title (REPEALED) SECTION HISTORY PL 1981, c. 243,...

9-A §8-102. Findings and declaration of purpose (REPEALED) - §8-102. Findings and declaration of purpose (REPEALED) SECTION HISTORY PL...

9-A §8-103. Definitions and rules of construction (REPEALED) - §8-103. Definitions and rules of construction (REPEALED) SECTION HISTORY PL...

9-A §8-104. Regulations; model forms (REPEALED) - §8-104. Regulations; model forms (REPEALED) SECTION HISTORY PL 1981, c....

9-A §8-105. Determination of finance charge (REPEALED) - §8-105. Determination of finance charge (REPEALED) SECTION HISTORY PL 1981,...

9-A §8-106. Determination of annual percentage rate (REPEALED) - §8-106. Determination of annual percentage rate (REPEALED) SECTION HISTORY PL...

9-A §8-106-A. Number of percentage points (REPEALED) - §8-106-A. Number of percentage points (REPEALED) SECTION HISTORY PL 1995,...

9-A §8-107. Exemption (REPEALED) - §8-107. Exemption (REPEALED) SECTION HISTORY PL 1981, c. 243, §§25,26...

9-A §8-108. Enforcement (REPEALED) - §8-108. Enforcement (REPEALED) SECTION HISTORY PL 1981, c. 243, §25...

9-A §8-109. Criminal liability for willful and knowing violation (REPEALED) - §8-109. Criminal liability for willful and knowing violation (REPEALED) SECTION...

9-A §8-110. Penalties inapplicable to governmental agencies (REPEALED) - §8-110. Penalties inapplicable to governmental agencies (REPEALED) SECTION HISTORY PL...

Part 2: DISCLOSURE REQUIREMENTS

9-A §8-201. General requirement of disclosure (REPEALED) - §8-201. General requirement of disclosure (REPEALED) SECTION HISTORY PL 1981,...

9-A §8-202. Form of disclosure; additional information; tabular format required for certain credit and charge card disclosures (REPEALED) - §8-202. Form of disclosure; additional information; tabular format required for...

9-A §8-203. Effect of subsequent occurrence (REPEALED) - §8-203. Effect of subsequent occurrence (REPEALED) SECTION HISTORY PL 1981,...

9-A §8-204. Right of rescission as to certain transactions (REPEALED) - §8-204. Right of rescission as to certain transactions (REPEALED) SECTION...

9-A §8-205. Open-end consumer credit plans (REPEALED) - §8-205. Open-end consumer credit plans (REPEALED) SECTION HISTORY PL 1981,...

9-A §8-206. Consumer credit not under open-end credit plans (REPEALED) - §8-206. Consumer credit not under open-end credit plans (REPEALED) SECTION...

9-A §8-206-A. High-rate, high-fee mortgages (REPEALED) - §8-206-A. High-rate, high-fee mortgages (REPEALED) SECTION HISTORY PL 1995, c....

9-A §8-206-B. Reverse mortgages (REPEALED) - §8-206-B. Reverse mortgages (REPEALED) SECTION HISTORY PL 1995, c. 326,...

9-A §8-206-C. High-rate, high-fee mortgages; additional requirements (REPEALED) - §8-206-C. High-rate, high-fee mortgages; additional requirements (REPEALED) SECTION HISTORY RR...

9-A §8-206-D. Residential mortgage loan requirements (REPEALED) - §8-206-D. Residential mortgage loan requirements (REPEALED) SECTION HISTORY PL 2007,...

9-A §8-206-E. Special liability for violations of residential mortgage loan, higher-priced mortgage loan and high-rate, high-fee mortgage loan requirements (REPEALED) - §8-206-E. Special liability for violations of residential mortgage loan, higher-priced...

9-A §8-206-F. Investigative and legal compliance personnel (REPEALED) - §8-206-F. Investigative and legal compliance personnel (REPEALED) SECTION HISTORY PL...

9-A §8-206-G. Annual report to Legislature (REPEALED) - §8-206-G. Annual report to Legislature (REPEALED) SECTION HISTORY PL 2007,...

9-A §8-206-H. High-rate, high-fee mortgages (REPEALED) - §8-206-H. High-rate, high-fee mortgages (REPEALED) SECTION HISTORY PL 2009, c....

9-A §8-206-I. Higher-priced mortgage loans (REPEALED) - §8-206-I. Higher-priced mortgage loans (REPEALED) SECTION HISTORY PL 2009, c....

9-A §8-206-J. Residential mortgage loan requirements (REPEALED) - §8-206-J. Residential mortgage loan requirements (REPEALED) SECTION HISTORY PL 2009,...

9-A §8-207. Consumer lease disclosures (REPEALED) - §8-207. Consumer lease disclosures (REPEALED) SECTION HISTORY PL 1981, c....

9-A §8-208. Civil liability (REPEALED) - §8-208. Civil liability (REPEALED) SECTION HISTORY PL 1981, c. 243,...

9-A §8-208-A. Certain limitations on liability (REPEALED) - §8-208-A. Certain limitations on liability (REPEALED) SECTION HISTORY PL 1995,...

9-A §8-209. Liability of assignees (REPEALED) - §8-209. Liability of assignees (REPEALED) SECTION HISTORY PL 1981, c....

Part 3: CREDIT CARD RESTRICTIONS

9-A §8-301. Issuance of credit cards (REPEALED) - §8-301. Issuance of credit cards (REPEALED) SECTION HISTORY PL 1981,...

9-A §8-302. Liability of holder of credit card (REPEALED) - §8-302. Liability of holder of credit card (REPEALED) SECTION HISTORY...

9-A §8-303. Credit card restrictions (REPEALED) - §8-303. Credit card restrictions (REPEALED) SECTION HISTORY PL 1981, c....

9-A §8-304. Disclosure of lists of the names, addresses and account numbers of credit card holders (REPEALED) - §8-304. Disclosure of lists of the names, addresses and account...

9-A §8-305. Recurring charges to credit or charge cards (REPEALED) - §8-305. Recurring charges to credit or charge cards (REPEALED) SECTION...

Part 4: FAIR CREDIT BILLING

9-A §8-401. Correction of billing errors (REPEALED) - §8-401. Correction of billing errors (REPEALED) SECTION HISTORY PL 1981,...

9-A §8-402. Regulation of credit reports (REPEALED) - §8-402. Regulation of credit reports (REPEALED) SECTION HISTORY PL 1981,...

9-A §8-403. Treatment of credit balances; returns (REPEALED) - §8-403. Treatment of credit balances; returns (REPEALED) SECTION HISTORY PL...

9-A §8-404. Prompt crediting of payments (REPEALED) - §8-404. Prompt crediting of payments (REPEALED) SECTION HISTORY PL 1981,...

Article 8-A: MAINE TRUTH-IN-LENDING

9-A §8-501. Short title - §8-501. Short title This Article may be known and cited...

9-A §8-502. Findings and declaration of purpose - §8-502. Findings and declaration of purpose The Legislature finds that...

9-A §8-503. Conformity with federal law - §8-503. Conformity with federal law Unless the context otherwise indicates,...

9-A §8-504. Maine Consumer Credit Code - Truth-in-Lending - §8-504. Maine Consumer Credit Code - Truth-in-Lending 1. Compliance with...

9-A §8-505. Enforcement - §8-505. Enforcement 1. Enforcement under Article 6. The administrator shall...

9-A §8-506. Enhanced restrictions on certain creditors - §8-506. Enhanced restrictions on certain creditors In addition to the...

9-A §8-507. Exemption from the Federal Truth in Lending Act - §8-507. Exemption from the Federal Truth in Lending Act 1....

9-A §8-508. Authority of administrator - §8-508. Authority of administrator The administrator, by rule or order,...

9-A §8-509. Credit card and debit card surcharge prohibition - §8-509. Credit card and debit card surcharge prohibition 1. Surcharge...

9-A §8-510. Disclosure of lists of the names, addresses and account numbers of credit card holders - §8-510. Disclosure of lists of the names, addresses and account...

9-A §8-511. Recurring charges to credit card or charge card accounts - §8-511. Recurring charges to credit card or charge card accounts...

Article 9: CONSUMER CREDIT TRANSACTIONS MADE TO ACQUIRE REAL ESTATE OR SECURED BY FIRST-LIEN MORTGAGES

Part 1: GENERAL PROVISIONS

9-A §9-101. Scope - §9-101. Scope This Article applies to all consumer credit transactions...

Part 2: LICENSING

9-A §9-201. Authority to make or service supervised loans; licensing - §9-201. Authority to make or service supervised loans; licensing The...

Part 3: REGULATION OF AGREEMENTS AND PRACTICES

9-A §9-301. Advertising - §9-301. Advertising 1. No creditor may engage in this State...

9-A §9-302. Terms and conditions of consumer credit transactions; rulemaking - §9-302. Terms and conditions of consumer credit transactions; rulemaking 1....

9-A §9-303. Consumer's choice of title attorney in consumer credit transactions secured by real estate - §9-303. Consumer's choice of title attorney in consumer credit transactions...

9-A §9-304. Servicing requirements of assigned consumer credit transactions - §9-304. Servicing requirements of assigned consumer credit transactions No consumer...

9-A §9-305. Interest to be paid on funds held in escrow - §9-305. Interest to be paid on funds held in escrow...

9-A §9-305-A. Timely payments from escrow - §9-305-A. Timely payments from escrow A creditor, assignee or servicer...

9-A §9-305-B. Timely responses to requests for payoff figures - §9-305-B. Timely responses to requests for payoff figures A creditor,...

9-A §9-306. Notice of assignment - §9-306. Notice of assignment A consumer is not obligated to...

9-A §9-307. Receipts; statements of account; evidence of payment - §9-307. Receipts; statements of account; evidence of payment 1. The...

9-A §9-308. Right to prepay - §9-308. Right to prepay A consumer may prepay in full...

9-A §9-309. Real estate appraisals; copies - §9-309. Real estate appraisals; copies A creditor that imposes a...

9-A §9-310. Privacy of consumer financial information - §9-310. Privacy of consumer financial information A creditor shall comply...

9-A §9-311. Choice of accounting, tax or attest services provider - §9-311. Choice of accounting, tax or attest services provider A...

9-A §9-311-A. Real estate settlement procedures - §9-311-A. Real estate settlement procedures A creditor and its mortgage...

9-A §9-312. False information on application for credit - §9-312. False information on application for credit A supervised lender,...

9-A §9-313. Rate locks - §9-313. Rate locks If a supervised lender charges a consumer...

9-A §9-314. Prepayment penalty riders - §9-314. Prepayment penalty riders A supervised lender may not impose...

Part 4: REMEDIES AND PENALTIES

9-A §9-401. Misrepresentation - §9-401. Misrepresentation A creditor or a person acting for him...

9-A §9-402. Unconscionability; inducement by unconscionable conduct - §9-402. Unconscionability; inducement by unconscionable conduct 1. With respect to...

9-A §9-403. Illegal, fraudulent or unconscionable conduct in attempted collection of debts - §9-403. Illegal, fraudulent or unconscionable conduct in attempted collection of...

9-A §9-404. Stay of enforcement of judgment - §9-404. Stay of enforcement of judgment At any time after...

9-A §9-405. Effect of violations on rights of parties - §9-405. Effect of violations on rights of parties 1. If...

9-A §9-406. Refunds and penalties as set-off to obligation - §9-406. Refunds and penalties as set-off to obligation Refunds or...

9-A §9-407. Criminal penalties - §9-407. Criminal penalties Any creditor, any officer or employee of...

9-A §9-408. Violation of the Maine Unfair Trade Practices Act - §9-408. Violation of the Maine Unfair Trade Practices Act Any...

Article 10: LOAN BROKERS

Part 1: GENERAL PROVISIONS

9-A §10-101. Short title - §10-101. Short title This article may be known and cited...

9-A §10-102. Definitions - §10-102. Definitions As used in this article, unless the context...

Part 2: REGISTRATION AND BONDING

9-A §10-201. Licensing and renewal licensing - §10-201. Licensing and renewal licensing A person desiring to engage...

9-A §10-202. Bond - §10-202. Bond Each application must be accompanied by evidence of...

Part 3: REGULATION OF PRACTICES

9-A §10-301. Escrow of funds - §10-301. Escrow of funds Each loan broker shall place fees...

9-A §10-302. Requirement for written agreement - §10-302. Requirement for written agreement Each agreement between a consumer...

9-A §10-303. Requirement for written disclosure - §10-303. Requirement for written disclosure Before any agreement is entered...

9-A §10-303-A. Good faith and fair dealing - §10-303-A. Good faith and fair dealing 1. A loan broker...

9-A §10-304. Advertising - §10-304. Advertising 1. A loan broker may not engage in...

9-A §10-305. Rulemaking - §10-305. Rulemaking The administrator may adopt reasonable rules pursuant to...

9-A §10-306. Privacy of consumer financial information - §10-306. Privacy of consumer financial information A loan broker shall...

9-A §10-307. Real estate settlement procedures - §10-307. Real estate settlement procedures A loan broker and its...

9-A §10-307-A. Application of truth in lending limits - §10-307-A. Application of truth in lending limits A loan broker...

9-A §10-308. False information on application for credit - §10-308. False information on application for credit A loan broker...

9-A §10-309. Rate locks - §10-309. Rate locks If a loan broker collects a fee...

9-A §10-310. Requirements related to refund anticipation loan and refund anticipation check - §10-310. Requirements related to refund anticipation loan and refund anticipation...

Part 4: REMEDIES AND PENALTIES

9-A §10-401. Effects of violations on rights of parties - §10-401. Effects of violations on rights of parties Any loan...

Article 11: RENTAL-PURCHASE PRACTICES

9-A §11-101. Short title - §11-101. Short title This Article may be known and cited...

9-A §11-102. Purpose; rules of construction - §11-102. Purpose; rules of construction 1. This Article must be...

9-A §11-103. Supplementary general principles of law applicable - §11-103. Supplementary general principles of law applicable Unless displaced by...

9-A §11-104. Application - §11-104. Application This Article applies to rental-purchase agreements or acts,...

9-A §11-105. Definitions - §11-105. Definitions As used in this Article, unless the context...

9-A §11-106. Inapplicability of other laws; exempt transactions - §11-106. Inapplicability of other laws; exempt transactions 1. A rental-purchase...

9-A §11-107. General requirements of disclosure - §11-107. General requirements of disclosure 1. The merchant shall disclose...

9-A §11-108. Disclosure - §11-108. Disclosure 1. For each rental-purchase agreement, the merchant shall...

9-A §11-109. Prohibited practices - §11-109. Prohibited practices A rental-purchase agreement may not contain: [PL...

9-A §11-110. Calculation of late charges - §11-110. Calculation of late charges Any late charge assessed pursuant...

9-A §11-111. Allowable charges - §11-111. Allowable charges In addition to rental payments, a merchant...

9-A §11-112. Default; notice of default and right to cure - §11-112. Default; notice of default and right to cure 1....

9-A §11-113. Reinstatement - §11-113. Reinstatement 1. A consumer who fails to make a...

9-A §11-114. Consumer's right to acquire ownership when 50% of payments equals cash price - §11-114. Consumer's right to acquire ownership when 50% of payments...

9-A §11-115. Liability damage waivers; fees - §11-115. Liability damage waivers; fees In addition to the other...

9-A §11-116. Receipts and accounts - §11-116. Receipts and accounts A merchant shall furnish the consumer...

9-A §11-117. Renegotiations and extensions - §11-117. Renegotiations and extensions 1. A renegotiation occurs when an...

9-A §11-118. Advertising and point-of-sale disclosure - §11-118. Advertising and point-of-sale disclosure 1. An advertisement for a...

9-A §11-119. Collection activity - §11-119. Collection activity The following provisions govern the debt collection...

9-A §11-120. Enforcement; penalties - §11-120. Enforcement; penalties A merchant who violates this Article or...

9-A §11-121. Effective date - §11-121. Effective date This Article takes effect January 1, 1993....

9-A §11-122. Privacy of consumer financial information - §11-122. Privacy of consumer financial information A merchant who enters...

Article 12: LEGAL FUNDING PRACTICES

9-A §12-101. Short title - §12-101. Short title This article may be known and cited...

9-A §12-102. Definitions - §12-102. Definitions As used in this article, unless the context...

9-A §12-103. Application of law - §12-103. Application of law 1. This article does not apply...

9-A §12-104. Requirements for legal funding contracts - §12-104. Requirements for legal funding contracts The following provisions govern...

9-A §12-105. Fee requirements - §12-105. Fee requirements 1. A litigation funding provider may not...

9-A §12-106. Registration of litigation funding provider; fees - §12-106. Registration of litigation funding provider; fees 1. Unless a...

9-A §12-107. Powers and functions of the administrator - §12-107. Powers and functions of the administrator 1. The powers...

Article 13: MAINE SECURE AND FAIR ENFORCEMENT FOR MORTGAGE LICENSING ACT OF 2009

9-A §13-101. Short title - §13-101. Short title This Article may be known and cited...

9-A §13-102. Definitions - §13-102. Definitions As used in this Article, unless the context...

9-A §13-103. License and registration required - §13-103. License and registration required 1. Requirement. An individual, unless...

9-A §13-104. State license and registration application and issuance - §13-104. State license and registration application and issuance 1. Application...

9-A §13-105. Issuance of license - §13-105. Issuance of license The administrator may not issue an...

9-A §13-106. Prelicensing education for mortgage loan originators - §13-106. Prelicensing education for mortgage loan originators 1. Minimum education...

9-A §13-107. Testing of mortgage loan originators - §13-107. Testing of mortgage loan originators 1. Written test. In...

9-A §13-108. Standards for license renewal - §13-108. Standards for license renewal 1. Minimum standards. The minimum...

9-A §13-109. Continuing education for mortgage loan originators - §13-109. Continuing education for mortgage loan originators 1. Requirement. In...

9-A §13-110. Authority to require license - §13-110. Authority to require license In addition to any other...

9-A §13-111. Nationwide mortgage licensing system and registry information challenge process - §13-111. Nationwide mortgage licensing system and registry information challenge process...

9-A §13-112. Enforcement authorities, violations and penalties - §13-112. Enforcement authorities, violations and penalties 1. Enforcement. In order...

9-A §13-113. Surety bond or minimum net worth requirements - §13-113. Surety bond or minimum net worth requirements Mortgage loan...

9-A §13-114. Confidentiality - §13-114. Confidentiality 1. Protections. Notwithstanding any provision of law to...

9-A §13-115. Investigation and examination authority - §13-115. Investigation and examination authority In addition to any authority...

9-A §13-116. Prohibited acts and practices - §13-116. Prohibited acts and practices It is a violation of...

9-A §13-117. Report to nationwide mortgage licensing system and registry - §13-117. Report to nationwide mortgage licensing system and registry The...

9-A §13-118. Unique identifier shown - §13-118. Unique identifier shown The unique identifier of any person...

9-A §13-119. Rulemaking - §13-119. Rulemaking Rules adopted pursuant to this Article are routine...

9-A §13-120. Effective date - §13-120. Effective date This Article takes effect January 1, 2011....

Article 14: STUDENT LOAN BILL OF RIGHTS

9-A §14-101. Short title - §14-101. Short title This Article may be known and cited...

9-A §14-102. Applicability - §14-102. Applicability This Article applies to a person who acts...

9-A §14-103. Definitions - §14-103. Definitions As used in this Article, unless the context...

9-A §14-104. Student loan ombudsman - §14-104. Student loan ombudsman The superintendent shall, using licensing and...

9-A §14-105. Annual report - §14-105. Annual report The superintendent shall submit a report by...

9-A §14-106. Assistance by exempt organization; report - §14-106. Assistance by exempt organization; report An exempt organization that...

9-A §14-107. Licensing of student loan servicers - §14-107. Licensing of student loan servicers A person may not...

9-A §14-108. Student loan servicers - §14-108. Student loan servicers 1. Definition. As used in this...

9-A §14-109. Superintendent powers and duties - §14-109. Superintendent powers and duties 1. Investigations and examinations. The...

9-A §14-110. Compliance with federal law - §14-110. Compliance with federal law A student loan servicer shall...

9-A §14-111. Funding - §14-111. Funding The superintendent shall internally track any license, examination...

Article 15: PRIVATE STUDENT LENDER REGISTRY

9-A §15-101. Definitions - §15-101. Definitions As used in this Article, unless the context...

9-A §15-102. Private student lender registry - §15-102. Private student lender registry 1. Private student lender registry....

9-A §15-103. Violations - §15-103. Violations 1. Fine. The superintendent may impose a fine...

9-A §15-104. Rules - §15-104. Rules The superintendent may adopt rules to carry out...

Article 16: PRIVATE EDUCATION LENDING

9-A §16-101. Definitions - §16-101. Definitions As used in this Article, unless the context...

9-A §16-102. License required - §16-102. License required A person may not engage in the...

9-A §16-103. Cosigned private education loan - §16-103. Cosigned private education loan 1. Information prior to extension...

9-A §16-104. Cosigner release - §16-104. Cosigner release 1. Annual written notice. A private education...

9-A §16-105. Disability; discharge of liability - §16-105. Disability; discharge of liability 1. Notification of total and...

9-A §16-106. Availability of alternative repayment options - §16-106. Availability of alternative repayment options 1. Flexible repayment option....

9-A §16-107. Record retention - §16-107. Record retention A private education lender shall establish and...

9-A §16-108. Prohibition on acceleration of private education loans - §16-108. Prohibition on acceleration of private education loans 1. Prohibition...

9-A §16-109. Requirements for collecting on private education loan debt - §16-109. Requirements for collecting on private education loan debt 1....

9-A §16-110. Violations - §16-110. Violations 1. Fine. The superintendent may impose a fine...

9-A §16-111. Rules - §16-111. Rules The superintendent may adopt rules to carry out...

<< Previous

Next >>

Maine Revised Statutes TITLE 9-A: MAINE CONSUMER CREDIT CODE

Maine Revised Statutes
TITLE 9-A: MAINE CONSUMER CREDIT CODE