9-A M.R.S. § 8-509 — ME Code / Title 9-A / Chapter 8-A / Section 8-509
9-A §8-509. Credit card and debit card surcharge prohibition
Status: in_force

1. Surcharge prohibited. A seller in a sales transaction may not impose a surcharge on a cardholder who elects to use a credit card or debit card in lieu of payment by cash, check or similar means. For purposes of this section, "surcharge" means any means of increasing the regular price to a cardholder that is not imposed on a customer paying by cash, check or similar means. A discount or reduction from the regular price is not a surcharge. [PL 2011, c. 427, Pt. A, §15 (NEW).]

2. Surcharge permitted for governmental entity. Notwithstanding subsection 1 , a governmental entity may impose a surcharge for payments made with a credit card or debit card for taxes, fines, charges, utility fees, regulatory fees, registration fees, license or permit fees or the provision of a specific service or good provided by that governmental entity if the surcharge: A. Is disclosed clearly to the consumer prior to payment; and [PL 2011, c. 427, Pt. A, §15 (NEW).] B. Does not exceed the costs associated with providing the credit card or debit card service that are directly incurred by the governmental entity or assessed by an authorized 3rd-party payment service provider for a credit card or debit card transaction. If there is not a cost assessed by an authorized 3rd-party payment service provider for a debit card transaction, the governmental entity may not impose a surcharge associated with a debit card transaction. [PL 2011, c. 427, Pt. A, §15 (NEW).] A governmental entity shall disclose to the consumer that the surcharge may be avoided if the consumer makes payments by cash, check or other means not a credit card or debit card. A governmental entity is not subject to any liability to the issuer of a credit card or an authorized 3rd-party payment service provider for nonpayment of credit card charges by the consumer. As used in this subsection, "governmental entity" includes, but is not limited to, a state department or agency, a county established or governed by Title 30‑A, Part 1 , a municipality as defined in Title 30‑A, section 2001, subsection 8 , a plantation established or governed by Title 30‑A, chapter 301 , a quasi-municipal corporation as defined in Title 30‑A, section 2604, subsection 3 , the Judicial Department as described in Title 4 , the University of Maine System, the Maine Community College System and the Maine Maritime Academy. [PL 2021, c. 150, §2 (AMD).]
9-A M.R.S. § 6-109 — ME Code / Title 9-A / Chapter 6 / Section 6-109
9-A §6-109. Assurance of discontinuance
Status: in_force

If it is claimed that a person has engaged in conduct which could be subject to an order by the administrator, section 6‑108 , or by a court, sections 6‑110 to 6‑112 , the administrator may accept an assurance in writing that the person will not engage in the same or in similar conduct in the future. Such an assurance may include any, or any combination, of the following: Stipulations for the voluntary payment by the creditor of the costs of investigation or of an amount to be held in escrow as restitution to debtors aggrieved by past or future conduct of the creditor or to cover costs of future investigation, or admissions of past specific acts by the creditor or that such acts violated this Act or other statutes. A violation of an assurance of discontinuance shall be a violation of this Act. [PL 1973, c. 762, §1 (NEW).]
9-B M.R.S. § 112 — ME Code / Title 9-B / Part 1 / Chapter 11 / Section 112
9-B §112. Severability
Status: in_force

If any provision of this Title or the application of this Title to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this Title that can be given effect without the invalid provision or application, and to this end the provisions of this Title are severable. [RR 1991, c. 2, §22 (COR).]
9-B M.R.S. § 345-B — ME Code / Title 9-B / Part 3 / Chapter 34 / Section 345-B
9-B §345-B. Conversion; investor to investor ownership
Status: in_force

With the superintendent's approval and in accordance with the provisions of this section and rules adopted under this section, which are routine technical rules pursuant to Title 5, chapter 375, subchapter II‑A , an equity financial institution organized under chapter 31 may convert its ownership structure to another type of ownership structure permissible under chapter 31 if this conversion is conducted in a manner fair and equitable to its investors, in the following manner. [PL 1997, c. 398, Pt. F, §7 (NEW).]

1. Procedure. The governing body must adopt and approve by a 2/3 vote a conversion plan that addresses conditions as the superintendent may require. [PL 1997, c. 398, Pt. F, §7 (NEW).]

2. Vote of investors. The conversion plan, as approved by the superintendent, must be submitted to the investors for their approval at an annual meeting or at a special meeting called for that purpose. Approval requires a majority vote of investors, unless a higher percentage is required by the institution's organizational documents. [PL 1997, c. 398, Pt. F, §7 (NEW).]

3. Dissenting investors. The rights of any investors not voting for the conversion plan are as set forth in section 352, subsection 5 . [PL 1997, c. 398, Pt. F, §7 (NEW).]
9-A M.R.S. § 2-101 — ME Code / Title 9-A / Chapter 2 / Section 2-101
9-A §2-101. Short title
Status: in_force

This Article shall be known and may be cited as the "Maine Consumer Credit Code -- Finance Charges and Related Provisions." [PL 1973, c. 762, §1 (NEW).]
9-A M.R.S. § 5-107 — ME Code / Title 9-A / Chapter 5 / Section 5-107
9-A §5-107. Extortionate extensions of credit
Status: in_force

1. If it is the understanding of the creditor and the consumer at the time an extension of credit is made that delay in making repayment or failure to make repayment could result in the use of violence or other criminal means to cause harm to the person, reputation or property of any person, the repayment of the extension of credit is unenforceable through civil judicial processes against the consumer. [PL 1973, c. 762, §1 (NEW).]

2. If it is shown that an extension of credit was made at an annual rate exceeding 33% calculated according to the actuarial method and that the creditor then had a reputation for the use or threat of use of violence or other criminal means to cause harm to the person, reputation or property of any person to collect extensions of credit or to punish the nonrepayment thereof, there is prima facie evidence that the extension of credit was unenforceable under subsection 1 . [PL 1973, c. 762, §1 (NEW).]
9-A M.R.S. § 1-103 — ME Code / Title 9-A / Chapter 1 / Section 1-103
9-A §1-103. Supplementary general principles of law applicable
Status: in_force

Unless displaced by the particular provisions of this Act, the Uniform Commercial Code and the principles of law and equity, including the law relative to capacity to contract, principal and agent, estoppel, fraud, misrepresentation, duress, coercion, mistake, bankruptcy or other validating or invalidating cause supplement its provisions. [PL 1973, c. 762, §1 (NEW).]
9-B M.R.S. § 358 — ME Code / Title 9-B / Part 3 / Chapter 35 / Section 358
9-B §358. Nonconforming activities: cessation
Status: in_force

If, as a result of a merger, consolidation, conversion or acquisition pursuant to this Title, the resulting institution is to be of a different type or of a different character than any one or all of the participating or converting institutions, such resulting institution shall be subject to the following conditions and limitations: [PL 1975, c. 500, §1 (NEW).]

1. Plan for termination. The plan of merger, consolidation, conversion or acquisition shall set forth the method and schedule for terminating those activities not permitted by the laws of this State for the resulting institution, but which were authorized for any of the participating or converting institutions. [PL 1975, c. 500, §1 (NEW).]

2. Effective date. The plan of merger, consolidation, conversion or acquisition shall state that from the effective date of such action, the resulting institution shall not engage in any nonconforming activities, except to the extent necessary to fulfill obligations existing prior to merger, consolidation, conversion or acquisition, pursuant to subsection 4 . [PL 1975, c. 500, §1 (NEW).]

3. Compliance with limitations. If, as a result of such merger, consolidation, conversion or acquisition, the resulting institution exceeds any lending, investment or other limitations imposed by this Title, it shall conform to such limitations within such period of time as shall be established by the superintendent. [PL 1975, c. 500, §1 (NEW).]

4. Divesture. The superintendent may, as a condition to such merger, consolidation, conversion or acquisition, require a nonconforming activity to be divested in accordance with such additional requirements as the superintendent considers appropriate under the circumstances. [RR 2025, c. 1, Pt. D, §26 (COR).]
9-B M.R.S. § 874 — ME Code / Title 9-B / Part 8 / Chapter 87 / Section 874
9-B §874. Conversion: State to federal charter
Status: in_force

A credit union organized under the general or special laws of this State may convert to a federally chartered credit union. The credit union must notify and provide the superintendent with a copy of the application filed with the National Credit Union Administration within 3 days of filing with the National Credit Union Administration. Approval of the members of the credit union for the conversion must be obtained in the manner set forth in section 342, subsection 6 . Upon obtaining the approval, the credit union shall provide to the superintendent all necessary approvals and charters required by the National Credit Union Administration and all federal laws and regulations applicable to the conversion. The superintendent shall notify the Secretary of State that the conversion has been effected. A copy of the approval or charter must accompany the notification. [PL 2007, c. 79, §11 (AMD).]
9-A M.R.S. § 12-105 — ME Code / Title 9-A / Chapter 12 / Section 12-105
9-A §12-105. Fee requirements
Status: in_force

1. A litigation funding provider may not assess fees for any period exceeding 42 months from the date of the contract with the civil litigant. [PL 2007, c. 394, §1 (NEW); PL 2007, c. 394, §3 (AFF).]

2. Fees assessed by a litigation funding provider may compound semiannually but may not compound based on any lesser time period. [PL 2007, c. 394, §1 (NEW); PL 2007, c. 394, §3 (AFF).]

3. In calculating the annual percentage fee or rate of return, a litigation funding provider must include all charges payable directly or indirectly by the consumer, and must compute the rate based only on amounts actually received and retained by a consumer. [PL 2007, c. 394, §1 (NEW); PL 2007, c. 394, §3 (AFF).]
9-A M.R.S. § 8-510 — ME Code / Title 9-A / Chapter 8-A / Section 8-510
9-A §8-510. Disclosure of lists of the names, addresses and account numbers of credit card holders
Status: in_force

1. Disclosure prohibited. Except as provided in subsection 2 , it is unlawful for a person, business, corporation, partnership, agency, financial institution, credit card registration service or other entity to rent, sell, exchange or otherwise disclose or make available to another person or entity a list containing the names, addresses and account numbers of credit card holders without the express, written permission of the credit card holders. [PL 2011, c. 427, Pt. A, §15 (NEW).]

2. Exceptions. The following disclosures of lists containing the names, addresses and account numbers of credit card holders are not prohibited: A. Disclosure to or from a consumer reporting agency, as defined in Title 10, section 1308, subsection 3 , as long as the transfer is for purposes of compliance with and in a manner consistent with the terms of the Fair Credit Reporting Act; [PL 2013, c. 588, Pt. C, §1 (AMD).] B. Disclosure between a parent corporation and a subsidiary or affiliate of that corporation or between subsidiaries or affiliates of a parent corporation; [PL 2011, c. 427, Pt. A, §15 (NEW).] C. Disclosure in connection with the sale or pledge, or negotiation of the sale or pledge, of any portion of a business or the assets of a business, as long as the party to whom disclosure is made maintains the confidentiality of the information disclosed; [PL 2011, c. 427, Pt. A, §15 (NEW).] D. Disclosure in connection with authorization, processing, billing, collection, charge-back, fraud prevention or credit card recovery; and [PL 2011, c. 427, Pt. A, §15 (NEW).] E. Disclosure pursuant to state or federal law or at the direction of a governmental entity pursuant to law or in response to a court order. [PL 2011, c. 427, Pt. A, §15 (NEW).] [PL 2013, c. 588, Pt. C, §1 (AMD).]

3. Violation. A violation of this section constitutes a violation of the Maine Consumer Credit Code and the Maine Unfair Trade Practices Act. [PL 2011, c. 427, Pt. A, §15 (NEW).]
9-A M.R.S. § 4-105 — ME Code / Title 9-A / Chapter 4 / Section 4-105
9-A §4-105. Conditions applying to insurance to be provided by creditor
Status: in_force

The provisions of Title 24‑A, section 2857 , shall apply to insurance provided or to be provided in relation to a consumer credit transaction. [PL 1973, c. 762, §1 (NEW).]
9-B M.R.S. § 881 — ME Code / Title 9-B / Part 8 / Chapter 88 / Section 881
9-B §881. Prohibited practices
Status: in_force

All credit unions organized pursuant to or subject to the laws of this State, and the directors and officers of such credit unions, shall be subject to the prohibitions and restrictions provided for in chapter 46 , except that the superintendent may, upon application and for good cause shown, permit an officer or director of one credit union to hold office in another credit union. [PL 1975, c. 500, §1 (NEW).]
9-A M.R.S. § 6-117 — ME Code / Title 9-A / Chapter 6 / Section 6-117
9-A §6-117. Contracts with other state and federal agencies
Status: in_force

1. The administrator may employ and engage experts, professionals or other personnel of other state or federal regulatory agencies as may be necessary to assist the administrator in carrying out the regulatory functions of this Act. The administrator may contract agency staff to other state and federal agencies to assist those other state and federal agencies in carrying out their regulatory functions. [PL 1999, c. 184, §5 (NEW).]

2. The administrator may enter into cooperative agreements with other state, federal or foreign agencies to facilitate the regulatory functions of the administrator, including, but not limited to, information sharing, coordination of examinations and joint examinations. [PL 1999, c. 184, §5 (NEW).]

3. Any information furnished pursuant to this section by or to the administrator that has been designated as confidential by the agency furnishing the information remains the property of the agency furnishing the information and must be kept confidential by the recipient of the information except as authorized by the furnishing agency. [PL 1999, c. 184, §5 (NEW).]
9-A M.R.S. § 4-109 — ME Code / Title 9-A / Chapter 4 / Section 4-109
9-A §4-109. Existing insurance; choice of insurer
Status: in_force

The provisions of Title 24‑A, section 2863 shall apply to insurance provided or to be provided in relation to a consumer credit transaction. [PL 1973, c. 762, §1 (NEW).]
9-A M.R.S. § 8-501 — ME Code / Title 9-A / Chapter 8-A / Section 8-501
9-A §8-501. Short title
Status: in_force

This Article may be known and cited as the "Maine Consumer Credit Code - Truth-in-Lending." [PL 2011, c. 427, Pt. A, §15 (NEW).]
9-B M.R.S. § 1021 — ME Code / Title 9-B / Part 10 / Chapter 102 / Section 1021
9-B §1021. Definition
Status: in_force

As used in this chapter, the term "mutual trust investment company" means a corporation which is an investment company as defined by an Act of Congress entitled "Investment Company Act of 1940", as amended; and incorporated in compliance with this chapter to constitute a medium for the common investment of trust funds held in a fiduciary capacity, and for true fiduciary purposes, either alone or with one or more cofiduciaries, by State banks with trust powers, trust companies and national banks with trust powers which are located in this State. [PL 1975, c. 500, §1 (NEW).]
9-A M.R.S. § 5-102 — ME Code / Title 9-A / Chapter 5 / Section 5-102
9-A §5-102. Scope
Status: in_force

This Part applies to actions or other proceedings to enforce rights arising from consumer credit transactions; and, in addition, to extortionate extensions of credit, section 5‑107 . [RR 2013, c. 2, §9 (COR).]
9-A M.R.S. § 13-106 — ME Code / Title 9-A / Chapter 13 / Section 13-106
9-A §13-106. Prelicensing education for mortgage loan originators
Status: in_force

1. Minimum education requirements. In order to meet the prelicensing education requirement set forth in section 13‑105, subsection 4 , a person must complete at least 20 hours of education approved in accordance with subsection 2 . A. [PL 2013, c. 466, §8 (RP).] B. [PL 2013, c. 466, §8 (RP).] C. [PL 2013, c. 466, §8 (RP).] [PL 2013, c. 466, §8 (AMD).]

2. Approved education courses. For purposes of subsection 1 , prelicensing education courses must be reviewed and approved by the nationwide mortgage licensing system and registry based on reasonable standards. Review and approval of a prelicensing education course must include review and approval of the course provider. [PL 2009, c. 362, Pt. B, §1 (NEW).]

3. Approval of employer and affiliate education courses. Nothing in this section precludes any prelicensing education course, as approved by the nationwide mortgage licensing system and registry, that is provided by the employer of the applicant or an entity that is affiliated with the applicant by an agency contract or any subsidiary or affiliate of such employer or entity. [PL 2009, c. 362, Pt. B, §1 (NEW).]

4. Venue of education. Prelicensing education may be offered either in a classroom, online or by any other means approved by the nationwide mortgage licensing system and registry. [PL 2009, c. 362, Pt. B, §1 (NEW).]

5. Reciprocity of education. The completion of the prelicensing education requirements approved by the nationwide mortgage licensing system and registry under this section for any state must be accepted as credit towards completion of prelicensing education requirements in this State. [PL 2009, c. 362, Pt. B, §1 (NEW).]

6. Relicensing education requirements. A person previously licensed under this Article who applies to be licensed again must prove that that person has completed all of the continuing education requirements for the year in which the license was last held. [PL 2009, c. 362, Pt. B, §1 (NEW).]
9 M.R.S. § 5015-A — ME Code / Title 9 / Part 13 / Chapter 385 / Section 5015-A
9 §5015-A. Fees
Status: in_force

The director may establish by rule fees for purposes authorized under this chapter in amounts that are reasonable and necessary for their respective purposes, except that the fee for any one purpose may not exceed $200 annually. Rules adopted pursuant to this section are routine technical rules pursuant to Title 5, chapter 375, subchapter 2‑A . [PL 2013, c. 313, §24 (AMD).]
9-A M.R.S. § 9-301 — ME Code / Title 9-A / Chapter 9 / Section 9-301
9-A §9-301. Advertising
Status: in_force

1. No creditor may engage in this State in false or misleading advertising concerning the terms and conditions of a consumer credit transaction subject to this article. [PL 1987, c. 396, §12 (NEW).]

2. This section imposes no liability on the owner or personnel, as such, of any medium in which an advertisement appears or through which it is disseminated. [PL 1987, c. 396, §12 (NEW).]
9-A M.R.S. § 3-315 — ME Code / Title 9-A / Chapter 3 / Section 3-315
9-A §3-315. Choice of accounting, tax or attest services provider
Status: in_force

A supervised lender may not, in connection with the extension of credit, interfere with a purchaser's or borrower's free choice of an accounting, tax or attest services provider who is accredited as a certified public accountant, public accountant or enrolled agent, except that the supervised lender may require the provider chosen by the purchaser or borrower to provide adequate evidence of liability insurance or such other written policy requirements as the supervised lender may determine necessary to protect its interest. [PL 2007, c. 466, Pt. B, §3 (RPR); PL 2007, c. 466, Pt. B, §5 (AFF).]
9-A M.R.S. § 1-104 — ME Code / Title 9-A / Chapter 1 / Section 1-104
9-A §1-104. Construction against implicit repeal
Status: repealed

This Act being a general act intended as a unified coverage of its subject matter, no part of it shall be deemed to be impliedly repealed by subsequent legislation if such construction can reasonably be avoided. [PL 1973, c. 762, §1 (NEW).]
9 M.R.S. § 5008-B — ME Code / Title 9 / Part 13 / Chapter 385 / Section 5008-B
9 §5008-B. Annual fund-raising activity reports to be filed by professional solicitors
Status: in_force

1. Content of report. A professional solicitor licensed pursuant to section 5008‑A shall submit to the director an annual fund-raising activity report that reflects data from the licensee's preceding fiscal year, on a form prescribed by the director, as part of its application for license renewal. The report must state, at a minimum, the following: A. The name, mailing address, telephone number and license number of the licensee making the report; [PL 2013, c. 313, §17 (NEW).] B. The name, mailing address, telephone number and license number of each charitable organization with which the licensee contracted to solicit contributions in this State; [PL 2013, c. 539, §14 (AMD).] C. The total dollar amount of contributions raised in this State during each fund-raising campaign and for the year; [PL 2013, c. 313, §17 (NEW).] D. The total dollar amount of contributions raised in this State that was actually received and retained by the charitable organization from each fund-raising campaign and for the year; and [PL 2013, c. 313, §17 (NEW).] E. The total dollar amount attributable to contributions raised in this State that was retained by or paid to the licensee from each fund-raising campaign and for the year. [PL 2013, c. 313, §17 (NEW).] [PL 2013, c. 539, §14 (AMD).]

2. Failure to file; discrepancies. Failure to file the annual fund-raising activity report required under this section or filing a report that contains discrepancies between that report and the report submitted by the charitable organization with which the professional solicitor has contracted may result in disciplinary action as provided under Title 10, section 8003, subsection 5‑A . To resolve a disagreement between reports, the director may require the professional solicitor to submit an annual fund-raising activity report according to a fiscal year other than the professional solicitor's fiscal year. [PL 2013, c. 539, §14 (AMD).]

3. Contracting with unlicensed charitable organization. A person may not contract with an unlicensed charitable organization for the solicitation of funds from the State's residents. A violation of this subsection may result in disciplinary action as provided under Title 10, section 8003, subsection 5‑A . [PL 2013, c. 313, §17 (NEW).]
9-B M.R.S. § 224 — ME Code / Title 9-B / Part 2 / Chapter 22 / Section 224
9-B §224. Records to be kept by supervised institutions
Status: in_force

1. Records for superintendent. A financial institution authorized to do business in this State shall keep those books, accounts and records relating to all transactions that enable the superintendent to ensure full compliance with the laws of this State. [PL 1995, c. 628, §13 (AMD).]

2. Loans and investments. The board of each financial institution shall establish written policies for approval of loans and investments. In the policies, the board may delegate to officers, employees or committees comprised of officers, employees, or board members, the authority to approve loans and investments. The board may retain authority to approve or ratify types or classes of loans or investments as it considers reasonable. The board shall retain authority to approve or ratify types or classes of loans or investments where the approval is otherwise specifically required by this Title. The superintendent has authority to review loan and investment policies to assure that they contribute to the safety and soundness of the institution. A record of all loans and investments of every description made by a financial institution shall be kept in a book or books appropriate, substantially in the order of the time when the loans or investments are made. The record shall be made available to the superintendent and, if requested for the purpose of reviewing the financial responsibility of management by a vote of the directors, corporators, members of stockholders, the record shall be submitted to those persons. Records of loan and investment approvals shall be maintained and shall be available for the review of directors and of the superintendent. [PL 1985, c. 83, §1 (RPR).]

3. Agreements with directors, officers and corporators. A financial institution shall maintain records of all agreements between the institution and its directors, officers and corporators and all persons acting on behalf of such persons, including, but not limited to, all loans and other contracts. [PL 1975, c. 500, §1 (NEW).]
9-A M.R.S. § 9-305-B — ME Code / Title 9-A / Chapter 9 / Section 9-305-B
9-A §9-305-B. Timely responses to requests for payoff figures
Status: in_force

A creditor, assignee or servicer shall respond to a request for a payoff figure within 3 business days following receipt of such a request from a consumer or an agent of the consumer for a consumer credit transaction secured by a mortgage on real estate. The response must include a precise payoff figure as of a date certain and must contain information permitting the consumer or the consumer's agent to update that figure, such as providing a per diem rate from a date certain. A charge may not be assessed for the first 2 requests in any calendar year, and a charge for each subsequent request may not exceed $5. [PL 2005, c. 206, §3 (NEW).]
9-B M.R.S. § 374 — ME Code / Title 9-B / Part 3 / Chapter 37 / Section 374
9-B §374. Authority for expedited transactions
Status: in_force

Notwithstanding any other provision of law, or any charter, certificate of organization, articles of association, articles of incorporation or bylaw of any participating institution, the superintendent may order that an interstate combination or branch acquisition pursuant to section 373, subsection 1 become effective immediately, if the superintendent determines that the action is necessary for the protection of depositors, shareholders or the public. A person aggrieved by an interstate combination or branch acquisition pursuant to this section is entitled to judicial review of the superintendent's order in accordance with Title 5, chapter 375, subchapter VII . [PL 1995, c. 628, §20 (NEW).]
9-B M.R.S. § 371 — ME Code / Title 9-B / Part 3 / Chapter 37 / Section 371
9-B §371. Applicability of chapter; fees
Status: in_force

1. Applicability. The provisions of this chapter govern de novo establishment of interstate branches, interstate combinations and interstate branch acquisitions undertaken by a financial institution, out-of-state financial institution, federal association or national bank. [PL 1995, c. 628, §20 (NEW).]

2. Fees. An application or notice required under this chapter is not complete unless accompanied by a fee payable to the Treasurer of State to be credited and used as provided in section 214 . The superintendent shall establish the amount of the fee according to the requirements of section 373 ; the fee may not exceed $2,500. [PL 1995, c. 628, §20 (NEW).]
9-B M.R.S. § 1051 — ME Code / Title 9-B / Part 10 / Chapter 105 / Section 1051
9-B §1051. Purpose
Status: in_force

This chapter authorizes mutual financial institutions to reorganize into mutual holding companies. [PL 1985, c. 558 (NEW).]
9-A M.R.S. § 14-104 — ME Code / Title 9-A / Chapter 14 / Section 14-104
9-A §14-104. Student loan ombudsman
Status: in_force

The superintendent shall, using licensing and investigation fees collected pursuant to section 14‑107 , support, maintain and designate a student loan ombudsman within the Department of Professional and Financial Regulation, Bureau of Consumer Credit Protection to provide timely assistance to student loan borrowers. [PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).]

The student loan ombudsman, in consultation with the superintendent, shall: [PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).]

1. Complaints. Receive, review and attempt to resolve complaints between: A. Student loan borrowers; and [PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).] B. Student loan servicers or any other participants in student education loan lending, including, but not limited to, originators servicing their own student education loans. The ombudsman may collaborate with institutions of higher education to attempt to resolve complaints; [PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).] [PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).]

2. Data. Compile and analyze data on student loan borrower complaints as described in subsection 1 and as resolved pursuant to section 14‑106 ; [PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).]

3. Assistance. Assist student loan borrowers to understand their rights and responsibilities under the terms of student education loans; [PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).]

4. Information. Provide information to the public, agencies, Legislators and others regarding the problems and concerns of student loan borrowers and make recommendations for resolving those problems and concerns; [PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).]

5. Laws, regulations and policies. Analyze and monitor the development and implementation of federal, state and local laws, ordinances, regulations, rules and policies relating to student loan borrowers and recommend any necessary changes; [PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).]

6. Student loan history. Review, as authorized and appropriate, the complete student education loan history for a student loan borrower who provides written consent for such a review; [PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).]

7. Outreach. Provide sufficient outreach and disseminate information concerning the availability of the student loan ombudsman to assist student loan borrowers and potential student loan borrowers, public institutions of higher education, student loan servicers and any other participants in student education loan lending with any student education loan servicing concerns; [PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).]

8. Assistance with complaints. Seek the assistance of an exempt organization in the resolution of a student loan borrower complaint as described in subsection 1 involving that exempt organization. The exempt organization shall cooperate with the student loan ombudsman as required by section 14‑106 . For purposes of this subsection, "exempt organization" means the Finance Authority of Maine and financial institutions exempt from this Article pursuant to section 14‑107, subsection 1 ; and [PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).]

9. Other actions. Take any other actions necessary to fulfill the duties of the student loan ombudsman as set forth in this Article. [PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).]
9-A M.R.S. § 6-110 — ME Code / Title 9-A / Chapter 6 / Section 6-110
9-A §6-110. Injunctions against violations of Act
Status: in_force

The administrator, through the Attorney General, may bring a civil action to restrain any person from violating this Act. [PL 1975, c. 134, §3 (AMD).]

In such an action, the court may make such orders or judgments as may be necessary to prevent the use or employment by a person of any practices prohibited by this Act, to reform contracts to conform to this Act or to rescind contracts in which a violation has tended to induce the debtor to contract with the creditor, even though the debtors are not parties to the action. In such an action, the court may, in its discretion, award the administrator the administrator's reasonable costs of investigation and reasonable attorney's fees incurred in bringing the action. An action under this section and an action under section 6‑113 may be brought jointly using a single complaint. [RR 2025, c. 1, Pt. C, §50 (COR).]
9-B M.R.S. § 244 — ME Code / Title 9-B / Part 2 / Chapter 24 / Section 244
9-B §244. Exemption
Status: in_force

A financial institution authorized to do business in this State or credit union authorized to do business in this State subject to the provisions of this chapter is exempt from the provisions of Title 5, chapter 10 . [PL 2003, c. 322, §13 (AMD).]
9-B M.R.S. § 436 — ME Code / Title 9-B / Part 4 / Chapter 43 / Section 436
9-B §436. Open-end mortgages
Status: in_force

1. Authorization; requirements. Any interest in real property which may be mortgaged to a financial institution authorized to do business in this State may be mortgaged to secure existing debts or obligations, to secure debts or obligations created simultaneously with the execution of the mortgage, to secure future advances necessary to protect the security and to secure future advances to be made at the option of the parties up to a total amount stated in the mortgage; and all such debts, obligations and future advances, from and as of the time the mortgage is filed for record as provided by law, shall be secured by such mortgage and have priority over the rights of all persons who subsequent to the recording of such mortgage acquire any rights in or liens upon the mortgaged real estate. A mortgage securing future advances remains valid and retains its priority even if no funds have been advanced or all advances have been repaid so long as an agreement regarding advances remains in effect. Upon termination of the agreement regarding future advances and repayment of all advances, the mortgage shall be discharged. Such priority over subsequent persons shall be only to the extent that the aggregate amount outstanding at any one time of such debts, obligations and future advances does not exceed the total amount stated in the mortgage; except that: A. The mortgagor or the mortgagor's successor in title is authorized to file for record, and the same must be recorded in the same recording office as the original mortgage, a notice limiting the amount of optional future advances secured by such mortgage to not less than the amount actually advanced at the time of the filing, as long as a copy of the filing is filed with the mortgagee; and [RR 2025, c. 1, Pt. D, §34 (COR).] B. The priority of such debts, obligations and future advances shall not include any future optional advances secured by such mortgage made by such institution after any such person, in addition to acquiring such subsequent right or lien, sends to the institution by registered mail or delivers to an officer of the institution and secures a receipt therefor, express written notice stating that any such optional advances thereafter made will be junior to such person's mortgage or lien upon or rights in such real estate. [PL 1975, c. 500, §1 (NEW).] [RR 2025, c. 1, Pt. D, §34 (COR).]

2. Future advances. "Future advances" referred to in subsection 1 shall include only those made to recipients designated in the mortgage. [PL 1975, c. 500, §1 (NEW).]

3. Applicability limited. The provisions of this subsection may not be construed to affect or otherwise change the present law that allows mortgages stating nominal or no consideration to secure existing debts or obligations, or debts or obligations created simultaneously with the execution of the mortgage, to the extent of the actual debts or obligations, existing or granted; but such mortgages, when not also expressly providing for future advances to be made at the option of the parties, may not afford security for any future advances except those necessary to protect the security. [RR 1991, c. 2, §23 (COR).]

4. Exemption. This section does not apply to mortgages that are recorded on or after January 1, 1994. [PL 1993, c. 229, §1 (NEW).]
9-A M.R.S. § 8-505 — ME Code / Title 9-A / Chapter 8-A / Section 8-505
9-A §8-505. Enforcement
Status: in_force

1. Enforcement under Article 6. The administrator shall enforce this Article under the provisions of Article 6 . When the Superintendent of Financial Institutions is acting as administrator, the superintendent may, in addition to the enforcement authority under Article 6 , use any authority provided in Title 9‑B for the supervision of financial institutions. [PL 2011, c. 427, Pt. A, §15 (NEW).]

2. Reimbursement. The administrator may adopt by rule a reimbursement program such that creditors subject to an administrative order under section 6‑108 may be ordered to make whatever adjustments are necessary to ensure that any person will not be required to pay a finance charge in excess of the finance charge actually disclosed or the dollar equivalent of the annual percentage rate actually disclosed, whichever is lower. In determining any readjustment, the administrator shall apply, with respect to the annual percentage rate, a tolerance allowed under the Federal Truth in Lending Act, 15 United States Code, Section 1607 and its implementing regulation, Regulation Z, 12 Code of Federal Regulations, Section 1026.1 et seq. and, with respect to the finance charge, a corresponding numerical tolerance as generated by the tolerance allowed by the Federal Truth in Lending Act and its implementing regulations for the annual percentage rate. The administrator may order partial adjustment or partial payments over an extended period if the administrator determines that a partial adjustment or making partial payments over an extended period is necessary to avoid causing the creditor to become undercapitalized pursuant to the Federal Deposit Insurance Act. [PL 2013, c. 464, §5 (AMD).]

3. Criminal liability for willful and knowing violation. Whoever willfully and knowingly gives false or inaccurate information or fails to provide information that the person is required to disclose under the provisions of this Article or any regulation issued thereunder, uses any chart or table authorized by the administrator under this Article in such a manner as to consistently understate the annual percentage rate determined under this Article or otherwise fails to comply with any requirement imposed under this Article is guilty of a Class D crime. [PL 2011, c. 427, Pt. A, §15 (NEW).]

4. Penalties inapplicable to governmental agencies. A civil or criminal penalty provided under this Article for any violation thereof may not be imposed upon the United States or any agency thereof, or upon any state or political subdivision thereof, or any agency of any state or political subdivision thereof. [PL 2011, c. 427, Pt. A, §15 (NEW).]

5. Civil liability. Except as otherwise provided for transactions subject to section 8‑506, subsection 6 , any creditor that fails to comply with the requirements imposed under this Article with respect to any person is liable to that person as provided for in the Federal Consumer Credit Protection Act, 15 United States Code, Section 1640. [PL 2011, c. 427, Pt. A, §15 (NEW).]

6. Liability of assignees. Except as otherwise provided for transactions subject to section 8‑506, subsection 3 , any civil action for a violation of this Article that may be brought against a creditor may be maintained against any assignee of such creditor as provided for in the federal Consumer Credit Protection Act, 15 United States Code, Section 1641. [PL 2011, c. 427, Pt. A, §15 (NEW).]

7. Attorney General. The Attorney General has jurisdiction to enforce this Article against mortgage brokers as defined in section 8‑506, subsection 1, paragraph J and supervised lenders that are not supervised financial organizations through their general regulatory powers and through civil process. The administrator, through the Attorney General, may bring a civil action to restrain any person from violating this Article. [PL 2011, c. 427, Pt. A, §15 (NEW).]
9-B M.R.S. § 1018 — ME Code / Title 9-B / Part 10 / Chapter 101 / Section 1018
9-B §1018. Exclusion
Status: in_force

The superintendent may exclude financial institution holding companies or other companies from the provisions of this chapter when control of a Maine financial institution arises out of the acquisition of shares in a fiduciary capacity, or in connection with an underwriting of securities or proxy solicitation, or in securing or collecting a debt. When control of a Maine financial institution arises in connection with securing or collecting a debt, the acquiring institution or company may be excluded from the provisions of this chapter if the acquiring institution or company divests the securities within 2 years of acquisition. The superintendent may grant requests for up to 3 one-year extensions. [PL 1993, c. 538, §4 (AMD).]