TITLE 9-A: MAINE CONSUMER CREDIT CODE
- Article 10: LOAN BROKERS
- 9-A §10-101. Short title
- 9-A §10-102. Definitions
- 9-A §10-201. Licensing and biennial relicensing
- 9-A §10-202. Bond
- 9-A §10-301. Escrow of funds
- 9-A §10-302. Requirement for written agreement
- 9-A §10-303. Requirement for written disclosure
- 9-A §10-303-A. Good faith and fair dealing
- 9-A §10-304. Advertising
- 9-A §10-305. Rulemaking
- 9-A §10-306. Privacy of consumer financial information
- 9-A §10-307. Real estate settlement procedures
- 9-A §10-308. False information on application for credit
- 9-A §10-309. Rate locks
- 9-A §10-310. Requirements related to refund anticipation loan and refund anticipation check
- 9-A §10-401. Effects of violations on rights of parties
- Article 11: RENTAL-PURCHASE PRACTICES
- 9-A §11-101. Short title
- 9-A §11-102. Purpose; rules of construction
- 9-A §11-103. Supplementary general principles of law applicable
- 9-A §11-104. Application
- 9-A §11-105. Definitions
- 9-A §11-106. Inapplicability of other laws; exempt transactions
- 9-A §11-107. General requirements of disclosure
- 9-A §11-108. Disclosure
- 9-A §11-109. Prohibited practices
- 9-A §11-110. Calculation of late charges
- 9-A §11-111. Allowable charges
- 9-A §11-112. Default; notice of default and right to cure
- 9-A §11-113. Reinstatement
- 9-A §11-114. Consumer's right to acquire ownership when 50% of payments equals cash price
- 9-A §11-115. Liability damage waivers; fees
- 9-A §11-116. Receipts and accounts
- 9-A §11-117. Renegotiations and extensions
- 9-A §11-118. Advertising and point-of-sale disclosure
- 9-A §11-119. Collection activity
- 9-A §11-120. Enforcement; penalties
- 9-A §11-121. Effective date
- 9-A §11-122. Privacy of consumer financial information
- Article 12: LEGAL FUNDING PRACTICES
- 9-A §12-101. Short title
- 9-A §12-102. Definitions
- 9-A §12-103. Application of law
- 9-A §12-104. Requirements for legal funding contracts
- 9-A §12-105. Fee requirements
- 9-A §12-106. Registration of litigation funding provider; fees
- 9-A §12-107. Powers and functions of the administrator
- Article 13: MAINE SECURE AND FAIR ENFORCEMENT FOR MORTGAGE LICENSING ACT OF 2009
- 9-A §13-101. Short title
- 9-A §13-102. Definitions
- 9-A §13-103. License and registration required
- 9-A §13-104. State license and registration application and issuance
- 9-A §13-105. Issuance of license
- 9-A §13-106. Prelicensing education for mortgage loan originators
- 9-A §13-107. Testing of loan mortgage originators
- 9-A §13-108. Standards for license renewal
- 9-A §13-109. Continuing education for mortgage loan originators
- 9-A §13-110. Authority to require license
- 9-A §13-111. Nationwide mortgage licensing system and registry information challenge process
- 9-A §13-112. Enforcement authorities, violations and penalties
- 9-A §13-113. Surety bond or minimum net worth requirements
- 9-A §13-114. Confidentiality
- 9-A §13-115. Investigation and examination authority
- 9-A §13-116. Prohibited acts and practices
- 9-A §13-117. Report to nationwide mortgage licensing system and registry
- 9-A §13-118. Unique identifier shown
- 9-A §13-119. Rulemaking
- 9-A §13-120. Effective date
- Article 1: GENERAL PROVISIONS AND DEFINITIONS
- 9-A §1-101. Short title
- 9-A §1-102. Purposes; rules of construction
- 9-A §1-103. Supplementary general principles of law applicable
- 9-A §1-104. Construction against implicit repeal
- 9-A §1-105. Severability
- 9-A §1-106. Adjustment of dollar amounts (REPEALED)
- 9-A §1-107. Waiver; agreement to forego rights; settlement of claims
- 9-A §1-108. Effect of Act on powers of organizations
- 9-A §1-109. Transactions subject to Act by agreement
- 9-A §1-110. Relationship to federal law
- 9-A §1-111. Record retention
- 9-A §1-201. Territorial application
- 9-A §1-202. Exclusions
- 9-A §1-203. Jurisdiction and service of process
- 9-A §1-301. General definitions
- 9-A §1-302. Definition: Federal Truth in Lending Act
- 9-A §1-303. Other defined terms
- Article 2: FINANCE CHARGES AND RELATED PROVISIONS
- 9-A §2-101. Short title
- 9-A §2-102. Scope
- 9-A §2-201. Finance charge for consumer credit sales other than open-end credit
- 9-A §2-202. Finance charge for consumer credit sales pursuant to open-end credit
- 9-A §2-301. Authority to make supervised loans
- 9-A §2-302. License to make supervised loans
- 9-A §2-303. Revocation or suspension of license or registration
- 9-A §2-303-A. Temporary suspension of license or registration
- 9-A §2-304. Records; annual reports
- 9-A §2-305. Examinations and investigations (REPEALED)
- 9-A §2-306. Application of administrative procedure (REPEALED)
- 9-A §2-307. Restrictions on interest in land as security
- 9-A §2-308. Regular schedule of payments; maximum loan term
- 9-A §2-309. No other business for purpose of evasion
- 9-A §2-310. Servicing requirements of assigned supervised loans
- 9-A §2-401. Finance charge for consumer loans
- 9-A §2-402. Finance charge for loans on open-end credit
- 9-A §2-501. Additional charges
- 9-A §2-502. Delinquency charges
- 9-A §2-503. Deferral charges
- 9-A §2-504. Finance charge on refinancing
- 9-A §2-505. Finance charge on consolidation
- 9-A §2-506. Advances to perform covenants of consumer
- 9-A §2-507. Attorney's fees and collection costs
- 9-A §2-508. Conversion to open end credit
- 9-A §2-509. Right to prepay
- 9-A §2-510. Rebate upon prepayment
- 9-A §2-601. Finance charge for other credit transactions
- Article 3: REGULATION OF AGREEMENTS AND PRACTICES
- 9-A §3-101. Short title
- 9-A §3-102. Scope
- 9-A §3-201. Advertising
- 9-A §3-202. Entitlement to copy of written agreement
- 9-A §3-203. Notice of assignment
- 9-A §3-204. Change in terms of open-end credit accounts
- 9-A §3-205. Receipts; statements of account; evidence of payment
- 9-A §3-206. Notice to cosigners and similar parties
- 9-A §3-301. Security in sales or leases
- 9-A §3-302. Cross-collateral
- 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 §3-309. Referral sales
- 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
- 9-A §3-316. Real estate settlement procedures
- 9-A §3-401. Restriction on liability in consumer lease
- 9-A §3-402. Limitation on default charges
- 9-A §3-403. Assignee subject to defenses
- 9-A §3-404. Interlocking loans
- 9-A §3-404-A. Interlocking leases
- 9-A §3-501. Definition: "Home solicitation sale"
- 9-A §3-502. Buyer's right to cancel
- 9-A §3-503. Form of agreement or offer; statement of buyer's rights
- 9-A §3-503-A. Frozen food contracts (REPEALED)
- 9-A §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
- 9-A §3-506. Limitation
- 9-A §3-507. Violation as unfair trade practice
- Article 4: INSURANCE
- 9-A §4-101. Short title
- 9-A §4-102. Scope; relation to Credit Insurance Act; applicability to parties
- 9-A §4-103. Definition: "consumer credit insurance," "Credit Insurance Act"
- 9-A §4-104. Creditor's provision of and charge for insurance; excess amount of charge
- 9-A §4-105. Conditions applying to insurance to be provided by creditor
- 9-A §4-106. Unconscionability
- 9-A §4-107. Maximum charge by creditor for insurance
- 9-A §4-108. Refund or credit required; amount
- 9-A §4-109. Existing insurance; choice of insurer
- 9-A §4-110. Charge for insurance in connection with a refinancing or consolidation
- 9-A §4-111. Cooperation between administrator and Superintendent of Insurance
- 9-A §4-112. Administrative action of Superintendent of Insurance
- 9-A §4-201. Term of insurance
- 9-A §4-202. Amount of insurance
- 9-A §4-203. Filing and approval of rates and forms
- 9-A §4-204. Notice of right to cancel credit insurance in open-end transactions
- 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
- 9-A §4-401. Scope
- 9-A §4-402. Insurance agency activities
- 9-A §4-403. Definitions
- 9-A §4-404. Choice of insurance agent or broker
- 9-A §4-405. Tie-in arrangements
- 9-A §4-406. Distinguishing insurance products from loan products; identification of insurance brokers and agents
- 9-A §4-407. Rulemaking
- Article 5: REMEDIES AND PENALTIES
- 9-A §5-101. Short title
- 9-A §5-102. Scope
- 9-A §5-103. Restrictions on deficiency judgments
- 9-A §5-104. No garnishment before judgment
- 9-A §5-105. Limitation on garnishment
- 9-A §5-106. No discharge from employment for garnishment
- 9-A §5-107. Extortionate extensions of credit
- 9-A §5-108. Unconscionability; inducement by unconscionable conduct
- 9-A §5-109. Default
- 9-A §5-110. Notice of consumer's right to cure
- 9-A §5-111. Cure of default
- 9-A §5-112. Creditor's right to take possession after default
- 9-A §5-113. Venue
- 9-A §5-114. Stay of enforcement of judgment
- 9-A §5-115. Misrepresentation
- 9-A §5-116. Illegal, fraudulent or unconscionable conduct in attempted collection of debts
- 9-A §5-116-A. Debts owed to health care providers
- 9-A §5-117. Prohibited practices
- 9-A §5-201. Effect of violations on rights of parties
- 9-A §5-202. Refunds and penalties as set-off to obligation
- 9-A §5-301. Violations
- Article 6: ADMINISTRATION
- 9-A §6-101. Short title
- 9-A §6-102. Applicability
- 9-A §6-103. Administration
- 9-A §6-104. Powers of administrator; reliance on rules; duty to report
- 9-A §6-104-A. Deputy superintendent (REPEALED)
- 9-A §6-105. Administrative powers with respect to supervised financial organizations
- 9-A §6-105-A. Uniform multistate automated licensing system
- 9-A §6-106. Examinations and investigations
- 9-A §6-107. Application of part on administrative procedure and judicial review
- 9-A §6-108. Administrative enforcement orders
- 9-A §6-109. Assurance of discontinuance
- 9-A §6-110. Injunctions against violations of act
- 9-A §6-111. Injunctions against unconscionable agreements and fraudulent or unconscionable conduct
- 9-A §6-112. Temporary relief
- 9-A §6-113. Civil actions by administrator
- 9-A §6-114. Consumer's remedies not affected
- 9-A §6-115. Venue
- 9-A §6-116. Confidentiality of records
- 9-A §6-117. Contracts with other state and federal agencies
- 9-A §6-201. Applicability
- 9-A §6-202. Notification
- 9-A §6-203. Fees
- 9-A §6-204. Penalty
- 9-A §6-301. Council of advisors on consumer credit (REPEALED)
- 9-A §6-302. Function of council; conflict of interest (REPEALED)
- 9-A §6-303. Meetings (REPEALED)
- 9-A §6-401. Applicability and scope (REPEALED)
- 9-A §6-402. Definitions in part: "contested case"; "license"; "licensing" (REPEALED)
- 9-A §6-403. Public information; adoption of rules; availability of rules (REPEALED)
- 9-A §6-404. Procedure for adoption of rules (REPEALED)
- 9-A §6-405. Taking effect of rules (REPEALED)
- 9-A §6-406. Publication of rules (REPEALED)
- 9-A §6-407. Petition for adoption of rules (REPEALED)
- 9-A §6-408. Declaratory judgment on validity or applicability of rules (REPEALED)
- 9-A §6-409. Advisory rulings by administrator (REPEALED)
- 9-A §6-410. Contested cases (REPEALED)
- 9-A §6-411. Rules of evidence; official notice (REPEALED)
- 9-A §6-412. Decisions and orders (REPEALED)
- 9-A §6-413. Licenses (REPEALED)
- 9-A §6-414. Judicial review of contested cases (REPEALED)
- 9-A §6-415. Appeals (REPEALED)
- Article 7: TRUTH-IN-LENDING
- 9-A §7-101. REPEALED
- 9-A §7-102. (REPEALED)
- 9-A §7-103. (REPEALED)
- 9-A §7-104. (REPEALED)
- 9-A §7-105. (REPEALED)
- 9-A §7-106. (REPEALED)
- 9-A §7-107. (REPEALED)
- 9-A §7-108. (REPEALED)
- 9-A §7-109. (REPEALED)
- 9-A §7-110. (REPEALED)
- 9-A §7-111. (REPEALED)
- 9-A §7-112. (REPEALED)
- 9-A §7-112-A. (REPEALED)
- 9-A §7-113. (REPEALED)
- 9-A §7-114. (REPEALED)
- 9-A §7-115. (REPEALED)
- 9-A §7-116. (REPEALED)
- 9-A §7-117. (REPEALED)
- 9-A §7-118. (REPEALED)
- 9-A §7-119. (REPEALED)
- 9-A §7-120. (REPEALED)
- 9-A §7-121. (REPEALED)
- 9-A §7-122. (REPEALED)
- 9-A §7-123. (REPEALED)
- 9-A §7-124. (REPEALED)
- 9-A §7-125. (REPEALED)
- 9-A §7-126. (REPEALED)
- 9-A §7-127. (REPEALED)
- Article 8: TRUTH-IN-LENDING
- 9-A §8-101. Short title
- 9-A §8-102. Findings and declaration of purpose
- 9-A §8-103. Definitions and rules of construction
- 9-A §8-104. Regulations; model forms
- 9-A §8-105. Determination of finance charge
- 9-A §8-106. Determination of annual percentage rate
- 9-A §8-106-A. Number of percentage points
- 9-A §8-107. Exemption
- 9-A §8-108. Enforcement
- 9-A §8-109. Criminal liability for willful and knowing violation
- 9-A §8-110. Penalties inapplicable to governmental agencies
- 9-A §8-201. General requirement of disclosure
- 9-A §8-202. Form of disclosure; additional information; tabular format required for certain credit and charge card disclosures
- 9-A §8-203. Effect of subsequent occurrence
- 9-A §8-204. Right of rescission as to certain transactions
- 9-A §8-205. Open-end consumer credit plans
- 9-A §8-206. Consumer credit not under open-end credit plans
- 9-A §8-206-A. High-rate, high-fee mortgages
- 9-A §8-206-B. Reverse mortgages
- 9-A §8-206-C. High-rate, high-fee mortgages; additional requirements (REPEALED)
- 9-A §8-206-D. Residential mortgage loan requirements (REPEALED)
- 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
- 9-A §8-206-F. Investigative and legal compliance personnel
- 9-A §8-206-G. Annual report to Legislature
- 9-A §8-206-H. High-rate, high-fee mortgages
- 9-A §8-206-I. Higher-priced mortgage loans
- 9-A §8-206-J. Residential mortgage loan requirements
- 9-A §8-207. Consumer lease disclosures
- 9-A §8-208. Civil liability
- 9-A §8-208-A. Certain limitations on liability
- 9-A §8-209. Liability of assignees
- 9-A §8-301. Issuance of credit cards
- 9-A §8-302. Liability of holder of credit card
- 9-A §8-303. Credit card restrictions
- 9-A §8-304. Disclosure of lists of the names, addresses and account numbers of credit card holders
- 9-A §8-305. Recurring charges to credit or charge cards
- 9-A §8-401. Correction of billing errors
- 9-A §8-402. Regulation of credit reports
- 9-A §8-403. Treatment of credit balances; returns
- 9-A §8-404. Prompt crediting of payments
- Article 9: CONSUMER CREDIT TRANSACTIONS MADE TO ACQUIRE REAL ESTATE OR SECURED BY FIRST-LIEN MORTGAGES
- 9-A §9-101. Scope
- 9-A §9-201. Authority to make supervised loans; licensing
- 9-A §9-301. Advertising
- 9-A §9-302. Terms and conditions of consumer credit transactions; rulemaking
- 9-A §9-303. Consumer's choice of title attorney in consumer credit transactions secured by real estate
- 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 §9-308. Right to prepay
- 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
- 9-A §9-312. False information on application for credit
- 9-A §9-313. Rate locks
- 9-A §9-314. Prepayment penalty riders
- 9-A §9-401. Misrepresentation
- 9-A §9-402. Unconscionability; inducement by unconscionable conduct
- 9-A §9-403. Illegal, fraudulent or unconscionable conduct in attempted collection of debts
- 9-A §9-404. Stay of enforcement of judgment
- 9-A §9-405. Effect of violations on rights of parties
- 9-A §9-406. Refunds and penalties as set-off to obligation
- 9-A §9-407. Criminal penalties
- 9-A §9-408. Violation of the Maine Unfair Trade Practices Act