reglab/statecodes huggingface dataset:
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 3: REGULATION OF AGREEMENTS AND PRACTICES › Part 3: LIMITATIONS ON AGREEMENTS AND PRACTICES › 9-A §3-314. Privacy of consumer financial information

§3-314. Privacy of consumer financial information
A creditor shall comply with the provisions of the federal Gramm-Leach-Bliley Act, 15 United States Code, Section 6801 et seq. (1999) and the applicable implementing federal Privacy of Consumer Information regulations, as adopted by the Office of the Comptroller of the Currency, 12 Code of Federal Regulations, Part 40 (2001); the Board of Governors of the Federal Reserve System, 12 Code of Federal Regulations, Part 216 (2001); the Federal Deposit Insurance Corporation, 12 Code of Federal Regulations, Part 332 (2001); the Office of Thrift Supervision, 12 Code of Federal Regulations, Part 573 (2001); the National Credit Union Administration, 12 Code of Federal Regulations, Part 716 (2001); the Federal Trade Commission, 16 Code of Federal Regulations, Part 313 (2001); or the Securities and Exchange Commission, 17 Code of Federal Regulations, Part 248 (2001), if the creditor is a financial institution as defined in those regulations. This section is not intended to permit the release of health care information except as permitted by Title 22, section 1711‑C or Title 24‑A, chapter 24. This section does not apply to a supervised financial organization.   [PL 2001, c. 262, Pt. A, §1 (NEW).]
SECTION HISTORY
PL 2001, c. 262, §A1 (NEW).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 3: REGULATION OF AGREEMENTS AND PRACTICES › Part 3: LIMITATIONS ON AGREEMENTS AND PRACTICES › 9-A §3-315. Choice of accounting, tax or attest services provider

§3-315. Choice of accounting, tax or attest services provider
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).]
SECTION HISTORY
PL 2007, c. 185, §1 (NEW). PL 2007, c. 273, Pt. A, §1 (NEW). PL 2007, c. 273, Pt. A, §41 (AFF). PL 2007, c. 466, Pt. B, §3 (RPR). PL 2007, c. 466, Pt. B, §5 (AFF).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 3: REGULATION OF AGREEMENTS AND PRACTICES › Part 3: LIMITATIONS ON AGREEMENTS AND PRACTICES › 9-A §3-316. Real estate settlement procedures

§3-316. Real estate settlement procedures
A creditor and its mortgage loan originators shall comply with the provisions of the federal Real Estate Settlement Procedures Act of 1974, 12 United States Code, Section 2601 et seq. and its implementing regulation, Regulation X, 12 Code of Federal Regulations, Section 1024.1 et seq.   [PL 2013, c. 464, §2 (AMD).]
SECTION HISTORY
PL 2007, c. 466, Pt. B, §4 (NEW). PL 2007, c. 466, Pt. B, §5 (AFF). PL 2011, c. 427, Pt. B, §9 (AMD). PL 2013, c. 464, §2 (AMD).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 3: REGULATION OF AGREEMENTS AND PRACTICES › 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 a lessee upon expiration of a consumer lease may not exceed twice the average payment allocable to a monthly period under the lease. This limitation does not apply to charges for damages to the leased property or for other default.   [PL 1981, c. 243, §20 (AMD).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW). PL 1981, c. 243, §§20,26 (AMD). PL 1981, c. 551, §3 (AMD).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 3: REGULATION OF AGREEMENTS AND PRACTICES › Part 4: LIMITATIONS ON CONSUMER'S LIABILITY › 9-A §3-402. Limitation on default charges

§3-402. Limitation on default charges
1.
The agreement with respect to a consumer credit transaction may not provide for any charges as a result of default by the consumer, except that the agreement may provide for the following:
A. Charges authorized by other provisions of this Act;   [PL 1991, c. 237 (NEW).]
B. Notwithstanding section 2‑507, reasonable charges incurred in realizing on a security interest in personal property securing a consumer loan, consumer lease or a consumer credit sale, other than attorney's fees; and   [PL 1999, c. 150, §5 (AMD).]
C. Notwithstanding section 2‑507, reasonable attorney's fees, legal expenses and other reasonable costs incurred in realizing on real property securing a consumer loan or a consumer credit sale.   [PL 1991, c. 237 (NEW).]
[PL 1999, c. 150, §5 (AMD).]
2.
A provision in violation of this section is unenforceable.
[PL 1991, c. 237 (NEW).]
3.
Notwithstanding subsections 1 and 2, a creditor that complies with Title 14, sections 6071 and 6073 is entitled to the remedies provided in those sections when an instrument that the creditor has taken in connection with a consumer loan, consumer lease or consumer credit sale is dishonored.
[PL 1999, c. 150, §6 (NEW).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW). PL 1981, c. 293, §4 (AMD). PL 1991, c. 237 (RPR). PL 1999, c. 150, §§5,6 (AMD).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 3: REGULATION OF AGREEMENTS AND PRACTICES › Part 4: LIMITATIONS ON CONSUMER'S LIABILITY › 9-A §3-403. Assignee subject to defenses

§3-403. Assignee subject to defenses
1.
With respect to a consumer credit sale or consumer lease, an assignee of the rights of the seller or lessor is subject to all claims and defenses of the buyer or lessee against the seller or lessor arising out of the sale or lease notwithstanding that:
A. There is an agreement to the contrary; or   [PL 1973, c. 762, §11 (NEW).]
B. The assignee is a holder in due course of a negotiable instrument issued in violation of the provisions on prohibition of certain negotiable instruments, section 3‑307.   [PL 1973, c. 762, §11 (NEW).]
[PL 1981, c. 243, §§ 21, 26 (AMD).]
2.
The assignee's liability under subsection 1 may not exceed the amount owing to the assignee with respect to the sale or lease at the time the assignee has notice of a claim or defense of the buyer or lessee. If debts arising from 2 or more consumer credit sales, other than pursuant to open-end credit, or consumer leases are consolidated, payments received after the consolidation are deemed, for the purpose of determining the amount owing the assignee with respect to a sale or lease, to have been first applied to the payment of debts arising from the sales or leases first made; if the debts consolidated arose from sales or leases made on the same day, payments are deemed to have been first applied to the smallest debt. Payments received upon a revolving charge account are deemed, for the purpose of determining the amount owing, the assignee with respect to a sale, to have been first applied to the payment of credit service charges in the order of their entry to the account and then to the payment of debts in the order in which the entries to the account showing the debts were made.
[PL 1973, c. 762, §1 (NEW).]
3.
No agreement may provide greater rights for an assignee than this section permits and any provision granting such greater rights is unenforceable.
[PL 1973, c. 762, §1 (NEW).]
4.
For the purposes of this section, assignee includes the issuer of a credit card, other than a lender credit card, when such card is used in a consumer sale or lease made with a person other than the issuer.
[PL 1973, c. 762, §1 (NEW).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW). PL 1981, c. 243, §§21,26 (AMD). PL 1981, c. 551, §3 (AMD).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 3: REGULATION OF AGREEMENTS AND PRACTICES › Part 4: LIMITATIONS ON CONSUMER'S LIABILITY › 9-A §3-404. Interlocking loans

§3-404. Interlocking loans
1.
A lender who makes a consumer loan for the purpose of enabling a consumer to buy from a seller goods or services, is subject to all claims and defenses of the consumer against the seller arising from the sale of the goods and services if:
A. The cash price of the item with respect to which a dispute exists is in excess of $50 and is made in this State by a seller who allows the consumer to purchase the goods or services pursuant to a lender credit card or similar arrangement involving third parties and the residence of the consumer is in this State and the consumer has made a good faith effort to communicate to the seller the existence of the dispute;   [PL 1975, c. 284, §1 (AMD).]
B. The lender was a person having a legal relationship with the seller and the relationship was not remote or was a factor in making the sale or loan;   [PL 1973, c. 762, §1 (NEW).]
C. The seller guaranteed the loan or otherwise assumed the risk of loss by the lender upon the loan; or   [PL 1973, c. 762, §1 (NEW).]
D. The lender directly supplied the seller with a form used by the debtor to evidence or secure the loan.   [PL 1973, c. 762, §1 (NEW).]
[PL 1981, c. 243, §§22, 26 (AMD).]
2.
The lender's liability under this section may not exceed the amount owing to the lender with respect to the cash price of the disputed item at the time the lender has notice of a claim or defense of the buyer against the seller. If 2 or more consumer loans, other than pursuant to a revolving loan account, are consolidated, payments received after the consolidation are deemed, for the purpose of determining the amount owing the lender with respect to the sale, to have been first applied to the payment of the loans first made; if the loans consolidated arose from sales made on the same day, payments are deemed to have been first applied to the smallest loan. Payments received upon open-end credit are deemed, for the purpose of determining the amount owing the lender with respect to the sale, to have been first applied to the payment of finance charges in the order of their entry to the account and then to the payment of loans in the order in which the entries to the account showing the loans were made.
[PL 1975, c. 284, §2 (AMD).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW). PL 1975, c. 284, §§1,2 (AMD). PL 1981, c. 243, §§22,26 (AMD). PL 1981, c. 551, §3 (AMD).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 3: REGULATION OF AGREEMENTS AND PRACTICES › Part 4: LIMITATIONS ON CONSUMER'S LIABILITY › 9-A §3-404-A. Interlocking leases

§3-404-A. Interlocking leases
1.
A lessor who enters into a consumer lease for the purpose of enabling a consumer to obtain the use and possession of goods from a seller who is a merchant with respect to the goods is subject to all claims and defenses of the consumer against the seller with respect to the leased goods if:
A. The lessor was a person having a legal relationship with the seller and the relationship was not remote or was a factor in entering into the lease;   [PL 1991, c. 805, §1 (NEW).]
B. The seller guaranteed the lease or otherwise assumed the risk of loss by the lessor upon the lease; or   [PL 1991, c. 805, §1 (NEW).]
C. The lessor directly supplied the seller with a form used by the lessee to evidence or secure the lease.   [PL 1991, c. 805, §1 (NEW).]
[PL 1991, c. 805, §1 (NEW).]
2.
The lessor's liability under this section may not exceed the amount that would be due to the lessor if the lease were terminated on the date the lessor receives notice of a claim or defense of the lessee against the seller.
[PL 1991, c. 805, §1 (NEW).]
SECTION HISTORY
PL 1991, c. 805, §1 (NEW).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 3: REGULATION OF AGREEMENTS AND PRACTICES › Part 5: HOME SOLICITATION SALES › 9-A §3-501. Definition: "Home solicitation sale"

§3-501. Definition: "Home solicitation sale"
"Home solicitation sale" means a consumer credit sale of goods, other than farm equipment, or services in which the seller or a person acting for him engages in a personal solicitation of the sale at a residence of the buyer and the buyer's agreement or offer to purchase is there given to the seller or a person acting for him. It includes a sale in which the seller allows the buyer to purchase goods or services pursuant to a lender credit card. It does not include a sale made pursuant to a preexisting open-end credit account, a sale made pursuant to prior negotiations between the parties at a business establishment at a fixed location where goods or services are offered or exhibited for sale, or a sale which is subject to the provisions on the consumer's right to rescind certain transactions of the Federal Truth in Lending Act. A sale which would be a home solicitation sale if credit were extended by the seller is a home solicitation sale although the goods or services are paid for in whole or in part by a consumer loan in which the lender is subject to defenses arising from the sale, section 3‑404.   [PL 1973, c. 762, §1 (NEW).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 3: REGULATION OF AGREEMENTS AND PRACTICES › Part 5: HOME SOLICITATION SALES › 9-A §3-502. Buyer's right to cancel

§3-502. Buyer's right to cancel
1.
In addition to any right otherwise to revoke an offer, the buyer has the right to cancel a home solicitation sale until midnight of the third business day after the day on which the buyer signs an agreement or offer to purchase which complies with this Part.
[PL 1973, c. 762, §1 (NEW).]
1-A.
In addition to any other right to avoid a contract or sale, the first-time buyer of a home solicitation sale of a home food service plan has the right prior to delivery of the food or nonfood items to cancel the sale until midnight of the 10th day after the date on which the buyer signs an agreement or offer to purchase that complies with this Part.
[PL 1991, c. 750, §1 (NEW).]
2.
Cancellation occurs when the buyer gives written notice of cancellation to the seller at the address stated in the agreement or offer to purchase.
[PL 1973, c. 762, §1 (NEW).]
3.
Notice of cancellation, if given by mail, is given when it is deposited in a mailbox properly addressed and postage prepaid.
[PL 1973, c. 762, §1 (NEW).]
4.
Notice of cancellation given by the buyer need not take a particular form and is sufficient if it indicates by any form of written expression the intention of the buyer not to be bound by the home solicitation sale.
[PL 1973, c. 762, §1 (NEW).]
5.
If the agreement or offer to purchase requires the seller to affix goods permanently to real estate or its appurtenances, then the seller may not begin performance as long as the buyer has the right to cancel.
[PL 1981, c. 187, §1 (NEW).]
6.
If the agreement or offer to purchase requires the seller to deliver a home food service plan, the seller shall allow the first-time buyer of a home food service plan to cancel the plan, without charge, at the time of delivery of the food or nonfood items.
[PL 1991, c. 750, §1 (NEW).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW). PL 1981, c. 187, §1 (AMD). PL 1991, c. 750, §1 (AMD).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 3: REGULATION OF AGREEMENTS AND PRACTICES › Part 5: HOME SOLICITATION SALES › 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
1.
In a home solicitation sale, the seller must present to the buyer and obtain his signature to a written agreement or offer to purchase which designates as the date of the transaction the date on which the buyer actually signs, contains a statement of the buyer's rights which complies with subsection 2, and the terms of the sale. A completely executed copy of the agreement shall be furnished by the seller to the buyer immediately after the buyer signs the agreement.
[PL 1973, c. 762, §1 (NEW).]
2.
The statement must:
A. Appear under the conspicuous caption: "BUYER'S RIGHT TO CANCEL;" and   [PL 1973, c. 762, §1 (NEW).]
B. Read as follows: "If this agreement was solicited at your residence and you do not want the goods or services, you may cancel this agreement by mailing a notice to the seller. The notice must say that you do not want the goods or services and must be mailed before midnight of ..........(Stated date) when cancellation right lapses. The notice must be mailed to: .......... (Insert name and mailing address of seller). If you cancel by this date, the seller may not keep any of your cash down payment. If this agreement requires the seller to affix goods to real estate, then the seller may not begin the work until .......... (Stated date) when cancellation right lapses."   [PL 1981, c. 187, §2 (AMD).]
[PL 1981, c. 187, §2 (AMD).]
3.
A home solicitation sales contract which contains the notice of cancellation forms and content required by the Federal Trade Commission's trade regulation rule providing for a time period within which a home solicitation sale may be cancelled shall be deemed as complying with the requirements of this Part, so long as the Federal Trade Commission rule provides at least equal information to the consumer concerning his right to cancel as is required by this Part.
[PL 1973, c. 762, §1 (NEW).]
4.
Until the seller has complied with this section, the buyer may cancel the home solicitation sale by notifying the seller in any manner and by any means of his intention to cancel.
[PL 1973, c. 762, §1 (NEW).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW). PL 1975, c. 134, §1 (AMD). PL 1981, c. 187, §2 (AMD).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 3: REGULATION OF AGREEMENTS AND PRACTICES › Part 5: HOME SOLICITATION SALES › 9-A §3-503-A. Frozen food contracts (REPEALED)

§3-503-A. Frozen food contracts
(REPEALED)
SECTION HISTORY
PL 1991, c. 239, §1 (NEW). PL 1991, c. 750, §2 (RP).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 3: REGULATION OF AGREEMENTS AND PRACTICES › Part 5: HOME SOLICITATION SALES › 9-A §3-504. Restoration of down payment; no retention of cancellation fee

§3-504. Restoration of down payment; no retention of cancellation fee
1.
Within 20 days after a home solicitation sale has been cancelled or an offer to purchase revoked, the seller must tender to the buyer any payments made by the buyer and any note or other evidence of indebtedness. A provision permitting the seller to keep all or any part of any payment, note or evidence of indebtedness is in violation of this section and unenforceable.
[PL 1973, c. 762, §1 (NEW).]
2.
If the down payment includes goods traded in, the goods must be tendered in substantially as good condition as when received by the seller. If the seller fails to tender the goods as provided by this section, the buyer may elect to recover an amount equal to the trade-in allowance stated in the agreement.
[PL 1973, c. 762, §1 (NEW).]
3.
Until the seller has complied with the obligations imposed by this section, the buyer may retain possession of goods delivered to him by the seller and has a lien on the goods in his possession or control for any recovery to which he is entitled.
[PL 1973, c. 762, §1 (NEW).]
4.
The seller is not entitled to retain any cancellation fee.
[PL 1973, c. 762, §1 (NEW).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 3: REGULATION OF AGREEMENTS AND PRACTICES › Part 5: HOME SOLICITATION SALES › 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 cancellation
1.
Except as provided by the provisions on retention of goods by the buyer, subsection 3 of section 3‑504, within a reasonable time after a home solicitation sale has been cancelled or an offer to purchase revoked, the buyer upon demand must tender to the seller any goods delivered by the seller pursuant to the sale but he is not obligated to tender at any place other than his residence. If the seller fails to demand possession of goods within a reasonable time after cancellation or revocation, the goods become the property of the buyer without obligation to pay for them. For the purpose of this section, 40 days is presumed to be a reasonable time.
[PL 1973, c. 762, §1 (NEW).]
2.
The buyer has a duty to take reasonable care of the goods in his possession before cancellation or revocation and for a reasonable time thereafter, during which time the goods are otherwise at the seller's risk.
[PL 1973, c. 762, §1 (NEW).]
3.
If the seller has performed any services pursuant to a home solicitation sale prior to its cancellation, the seller is entitled to no compensation.
[PL 1973, c. 762, §1 (NEW).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 3: REGULATION OF AGREEMENTS AND PRACTICES › Part 5: HOME SOLICITATION SALES › 9-A §3-506. Limitation

§3-506. Limitation
This Part does not apply to any consumer credit transaction covered by Article 8‑A and subject to the right of rescission pursuant to the Federal Truth in Lending Act, 15 United States Code, Section 1601 et seq., nor does it apply to any sale, by any dealer or agent or salesperson of a registered dealer, registered pursuant to Title 32, chapter 135, of stocks, bonds, debentures or securities representing stocks, bonds or debentures registered pursuant to Title 32, chapter 135 or expressly exempt from registration thereof.   [PL 2011, c. 427, Pt. D, §11 (AMD).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW). PL 1977, c. 564, §45 (AMD). PL 1981, c. 698, §19 (AMD). PL 1987, c. 129, §62 (AMD). PL 2005, c. 65, §C4 (AMD). PL 2011, c. 427, Pt. D, §11 (AMD).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 3: REGULATION OF AGREEMENTS AND PRACTICES › Part 5: HOME SOLICITATION SALES › 9-A §3-507. Violation as unfair trade practice

§3-507. Violation as unfair trade practice
Any violation of this Part shall constitute a violation of Title 5, chapter 10, Unfair Trade Practices Act.   [PL 1973, c. 762, §1 (NEW).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › 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 be cited as the "Maine Consumer Credit Code -- Insurance."   [PL 1973, c. 762, §1 (NEW).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 1: INSURANCE IN GENERAL › 9-A §4-102. Scope; relation to Credit Insurance Act; applicability to parties

§4-102. Scope; relation to Credit Insurance Act; applicability to parties
1.
Except as provided in subsection 2, Parts 1, 2 and 3 of this Article apply to insurance provided or to be provided in relation to a consumer credit transaction.
[PL 1997, c. 315, §1 (AMD).]
2.
The provision on cancellation by a creditor, section 4‑304, applies to loans, the primary purpose of which is the financing of insurance. No other provision of Parts 1, 2 and 3 of this Article applies to insurance so financed.
[PL 1997, c. 315, §1 (AMD).]
3.
This Article supplements and does not repeal the Credit Insurance Act. The provisions of this Act concerning administrative controls, liabilities and penalties do not apply to persons acting as insurers. The similar provisions of the Credit Insurance Act do not apply to creditors and debtors, except as otherwise provided in this Article. The administrator shall have the power under Article VI to enforce against creditors the provisions of the Credit Insurance Act referred to in this Article.
[PL 1973, c. 762, §1 (NEW).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW). PL 1997, c. 315, §1 (AMD).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 1: INSURANCE IN GENERAL › 9-A §4-103. Definition: "consumer credit insurance," "Credit Insurance Act"

§4-103. Definition: "consumer credit insurance," "Credit Insurance Act"
In this Act:   [PL 1973, c. 762, §1 (NEW).]
1.
"Consumer credit insurance" means insurance, other than insurance on property, by which the satisfaction of debt in whole or in part is a benefit provided, but does not include:
A. Insurance provided in relation to a credit transaction in which a payment is scheduled more than 15 years after the extension of credit;   [PL 1975, c. 288, §1 (AMD).]
B. Insurance issued as an isolated transaction on the part of the insurer not related to an agreement or plan for insuring consumers of the creditor; or   [PL 1973, c. 762, §1 (NEW).]
C. Insurance indemnifying the creditor against loss due to the consumer's default.   [PL 1973, c. 762, §1 (NEW).]
[PL 1975, c. 288, §1 (AMD).]
2.
"Credit Insurance Act" means Title 24‑A, chapter 37.
[PL 2001, c. 138, §1 (AMD).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW). PL 1975, c. 288, §1 (AMD). PL 2001, c. 138, §1 (AMD).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 1: INSURANCE IN GENERAL › 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 of charge
1.
Except as otherwise provided in Parts 1, 2 and 3 of this Article and subject to the provisions on additional charges, section 2‑501, and maximum finance charges, Parts 2 and 4 of Article II, a creditor may agree to provide insurance, and may contract for and receive a charge for insurance separate from and in addition to other charges. A creditor need not make a separate charge for insurance provided or required by that creditor. This Act does not authorize the issuance of any insurance prohibited under any statute, or rule thereunder, governing the business of insurance.
[PL 1997, c. 315, §2 (AMD).]
2.
The excess amount of a charge for insurance provided for in agreements in violation of Parts 1, 2 and 3 of this Article is an excess charge for the purposes of the provisions of the Article on Remedies and Penalties, Article V, as to effect of violations on rights of parties, section 5‑201, and of the provisions of the Article on Administration, Article VI, as to civil actions by the administrator, section 6‑113.
[PL 1997, c. 315, §2 (AMD).]
3.
In any consumer credit sale or any supervised loan, except pursuant to open-end credit sales, a creditor may not contract for or receive a separate charge for consumer credit insurance providing for accident and health coverage unless there is a minimum payment of $30 per month or a loan duration of at least 18 months. All consumer credit insurance providing for accident and health coverage in any consumer credit sale or any supervised loan shall provide for a waiting period of 30 days or more. If a creditor offers consumer credit insurance providing for accident and health coverage for which a separate charge may be received, the creditor shall offer the consumer the option of purchasing consumer credit insurance which does not pay a benefit for the 30-day waiting period and shall disclose to the consumer the cost thereof in accordance with section 2‑501, subsection 2, paragraph B.
[PL 1981, c. 151 (AMD).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW). PL 1975, c. 288, §2 (AMD). PL 1981, c. 151 (AMD). PL 1997, c. 315, §2 (AMD).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 1: INSURANCE IN GENERAL › 9-A §4-105. Conditions applying to insurance to be provided by creditor

§4-105. Conditions applying to insurance to be provided by creditor
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).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 1: INSURANCE IN GENERAL › 9-A §4-106. Unconscionability

§4-106. Unconscionability
1.
In applying the provisions of this Act on unconscionability, sections 5‑108 and 6‑111, to a separate charge for insurance, consideration shall be given, among other factors, to:
A. Potential benefits to the consumer including the satisfaction of his obligations;   [PL 1973, c. 762, §1 (NEW).]
B. The creditor's need for the protection provided by the insurance; and   [PL 1973, c. 762, §1 (NEW).]
C. The relation between the amount and terms of credit granted and the insurance benefits provided.   [PL 1973, c. 762, §1 (NEW).]
[PL 1973, c. 762, §1 (NEW).]
2.
If consumer credit insurance otherwise complies with Parts 1, 2 and 3 of this Article and other applicable law, neither the amount nor the term of the insurance nor the amount of a charge therefor is in and of itself unconscionable in the absence of other practices and circumstances.
[PL 1997, c. 315, §3 (AMD).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW). PL 1997, c. 315, §3 (AMD).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 1: INSURANCE IN GENERAL › 9-A §4-107. Maximum charge by creditor for insurance

§4-107. Maximum charge by creditor for insurance
1.
Except as provided in subsection 2, if a creditor contracts for or receives a separate charge for insurance, the amount charged to the consumer for the insurance may not exceed the premium to be charged by the insurer, as computed at the time the charge to the consumer is determined, conforming to any rate filings required by law and made by the insurer with the Superintendent of Insurance.
[PL 1973, c. 762, §1 (NEW).]
2.
A creditor who provides consumer credit insurance in relation to open end credit may calculate the charge to the consumer in each billing cycle by applying the current premium rate to the unpaid balance of debt in the same manner as is permitted with respect to finance charges by the provisions on finance charges for consumer credit sales pursuant to open end credit, section 2‑202.
[PL 2021, c. 676, Pt. A, §8 (AMD).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW). PL 2021, c. 676, Pt. A, §8 (AMD).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 1: INSURANCE IN GENERAL › 9-A §4-108. Refund or credit required; amount

§4-108. Refund or credit required; amount
The provisions of Title 24‑A, sections 2859, 2860, and 2861, shall apply to insurance provided or to be provided in relation to a consumer credit transaction.   [PL 1973, c. 762, §1 (NEW).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 1: INSURANCE IN GENERAL › 9-A §4-109. Existing insurance; choice of insurer

§4-109. Existing insurance; choice of insurer
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).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 1: INSURANCE IN GENERAL › 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 consolidation
The provisions of Title 24‑A, section 2856, subsection 4 and section 2859, shall apply to insurance provided or to be provided in relation to a consumer credit transaction.   [PL 1973, c. 762, §1 (NEW).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 1: INSURANCE IN GENERAL › 9-A §4-111. Cooperation between administrator and Superintendent of Insurance

§4-111. Cooperation between administrator and Superintendent of Insurance
The administrator and the Superintendent of Insurance are authorized and directed to consult and assist one another in maintaining compliance with Parts 1, 2 and 3 of this Article. They may jointly pursue investigations, prosecute suits and take other official action as may seem to them appropriate, if either of them is otherwise empowered to take the action. If the administrator is informed of a violation or suspected violation by an insurer of Parts 1, 2 and 3 of this Article, or of the insurance laws, rules and regulations of this State, the administrator shall advise the Superintendent of Insurance of the circumstances.   [PL 1997, c. 315, §4 (AMD).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW). PL 1997, c. 315, §4 (AMD).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 1: INSURANCE IN GENERAL › 9-A §4-112. Administrative action of Superintendent of Insurance

§4-112. Administrative action of Superintendent of Insurance
1.
To the extent of required responsibility under Parts 1, 2 and 3 of this Article, the Superintendent of Insurance shall issue rules with respect to insurers, and with respect to refunds, section 4‑108, forms, schedules of premium rates and charges, section 4‑203, and the Superintendent of Insurance's approval or disapproval thereof and, in case of violation, may make an order for compliance.
[PL 1997, c. 315, §5 (AMD).]
2.
[PL 1985, c. 763, Pt. A, §39 (RP).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW). PL 1985, c. 763, §A39 (AMD). PL 1997, c. 315, §5 (AMD).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 2: CONSUMER CREDIT INSURANCE › 9-A §4-201. Term of insurance

§4-201. Term of insurance
The provisions of Title 24‑A, section 2856, shall apply to insurance provided or to be provided in relation to a consumer credit transaction.   [PL 1973, c. 762, §1 (NEW).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 2: CONSUMER CREDIT INSURANCE › 9-A §4-202. Amount of insurance

§4-202. Amount of insurance
The provisions of Title 24‑A, section 2855, shall apply to insurance provided or to be provided in relation to a consumer credit transaction.   [PL 1973, c. 762, §1 (NEW).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 2: CONSUMER CREDIT INSURANCE › 9-A §4-203. Filing and approval of rates and forms

§4-203. Filing and approval of rates and forms
The provisions of Title 24‑A, section 2858, shall apply to insurance provided or to be provided in relation to a consumer credit transaction.   [PL 1973, c. 762, §1 (NEW).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 2: CONSUMER CREDIT INSURANCE › 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 transactions
A creditor who provides consumer credit insurance in relation to open-end credit shall, at least annually, inform the consumer of the voluntary nature of the insurance and of his right to cancel that insurance at will.   [PL 1985, c. 336, §7 (NEW).]
SECTION HISTORY
PL 1985, c. 336, §7 (NEW).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 3: PROPERTY AND LIABILITY INSURANCE › 9-A §4-301. Property insurance

§4-301. Property insurance
The following provisions apply to insurance provided or to be provided in relation to a consumer credit transaction:   [PL 1997, c. 315, §6 (NEW).]
1.
A creditor may not contract for or receive a separate charge for insurance against loss of or damage to property unless:
A. The insurance covers a substantial risk of loss of or damage to property related to the credit transaction;   [PL 1973, c. 762, §1 (NEW).]
B. The amount, terms and conditions of the insurance are reasonable in relation to the character and value of the property insured or to be insured;   [PL 1973, c. 762, §1 (NEW).]
C. The term of the insurance is reasonable in relation to the term of credit.   [PL 1973, c. 762, §1 (NEW).]
[PL 1975, c. 368, §1 (AMD).]
2.
The term of the insurance is reasonable if it is customary and does not extend substantially beyond a scheduled maturity.
[PL 1973, c. 762, §1 (NEW).]
3.
With respect to a transaction, except pursuant to open-end credit, a creditor may not contract for or receive a separate charge for insurance against loss of or damage to property, unless the amount financed exclusive of charges for the insurance is $1,400 or more and the cash price of the item or property is $1,400 or more.
[PL 1997, c. 727, Pt. B, §15 (AMD).]
4.
With respect to a transaction pursuant to open-end credit, the administrator may adopt rules consistent with the principles set out in subsections 1 and 2 prescribing whether, and the conditions under which, a creditor may contract for or receive a separate charge for insurance against loss of or damage to property.
[PL 1975, c. 368, §2 (NEW).]
5.
[PL 1997, c. 727, Pt. B, §16 (RP).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW). PL 1975, c. 368, §§1,2 (AMD). PL 1985, c. 763, §A40 (AMD). PL 1997, c. 315, §6 (AMD). PL 1997, c. 727, §§B15,16 (AMD).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 3: PROPERTY AND LIABILITY INSURANCE › 9-A §4-302. Insurance on creditor's interest only

§4-302. Insurance on creditor's interest only
If a creditor contracts for or receives a separate charge for insurance against loss of or damage to property, the risk of loss or damage not willfully caused by the consumer is on the consumer only to the extent of any deficiency in the effective coverage of the insurance, even though the insurance covers only the interest of the creditor.   [PL 1973, c. 762, §1 (NEW).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 3: PROPERTY AND LIABILITY INSURANCE › 9-A §4-303. Liability insurance (REPEALED)

§4-303. Liability insurance
(REPEALED)
SECTION HISTORY
PL 1973, c. 762, §1 (NEW). PL 1987, c. 129, §63 (AMD). PL 1997, c. 315, §7 (RP).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 3: PROPERTY AND LIABILITY INSURANCE › 9-A §4-304. Cancellation by creditor

§4-304. Cancellation by creditor
A creditor shall not request cancellation of a policy of property or liability insurance except after the consumer's default or in accordance with a written authorization by the consumer and until written notice is delivered to the consumer or mailed to him at his address as stated by him. The notice shall state that the policy may be cancelled on a date not less than 10 days after the notice is delivered, or, if the notice is mailed, not less than 13 days after it is mailed.   [PL 1975, c. 316 (AMD).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW). PL 1975, c. 316 (AMD).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 4: INSURANCE ACTIVITIES BY SUPERVISED LENDERS › 9-A §4-401. Scope

§4-401. Scope
1.  Scope.
This Part applies to supervised lenders who are not supervised financial organizations.
[PL 1997, c. 315, §8 (NEW).]
2.  Exceptions.
Except for sections 4‑402 and 4‑405, this Part does not apply to group health and group life insurance to the extent authorized by Title 24‑A, chapters 31 and 35 when the insured is enrolled in the insurance policy, credit life and credit health insurance to the extent authorized by Title 24‑A, chapter 37, credit property insurance, credit involuntary unemployment insurance, forced placed property insurance, a vendor's single interest policy or any other insurance product as determined by the Superintendent of Insurance.
[PL 1997, c. 315, §8 (NEW).]
SECTION HISTORY
PL 1997, c. 315, §8 (NEW).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 4: INSURANCE ACTIVITIES BY SUPERVISED LENDERS › 9-A §4-402. Insurance producer activities

§4-402. Insurance producer activities
A supervised lender and any affiliate may become licensed under Title 24‑A as an insurance producer or consultant for the sale of insurance products in this State and may act as an insurance producer or consultant for the sale of insurance products in this State.   [PL 2021, c. 676, Pt. C, §1 (AMD).]
SECTION HISTORY
PL 1997, c. 315, §8 (NEW). PL 2021, c. 676, Pt. C, §1 (AMD).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 4: INSURANCE ACTIVITIES BY SUPERVISED LENDERS › 9-A §4-404. Choice of insurance producer

§4-404. Choice of insurance producer
A supervised lender or its affiliate that negotiates or sells insurance products to purchasers or borrowers as authorized under section 4‑402 may not, in connection with the extension of credit, interfere with a purchaser's or borrower's free choice of an insurance producer or company under applicable provisions set forth in Title 24‑A.   [PL 2021, c. 676, Pt. C, §6 (AMD).]
SECTION HISTORY
PL 1997, c. 315, §8 (NEW). PL 2021, c. 676, Pt. C, §6 (AMD).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 4: INSURANCE ACTIVITIES BY SUPERVISED LENDERS › 9-A §4-405. Tie-in arrangements

§4-405. Tie-in arrangements
A supervised lender, a subsidiary of a supervised lender or an entity of which a supervised lender is a subsidiary may not sell in any manner an insurance product as authorized under section 4‑402 or fix or vary the consideration for that product on the condition, agreement, requirement or understanding that the purchaser or borrower obtain additional or other credit, property or other service from the supervised lender, a subsidiary of a supervised lender or an entity of which a supervised lender is a subsidiary. This section does not prohibit a tie-in involving insurance products that is permitted under Title 24‑A.   [PL 1997, c. 315, §8 (NEW).]
SECTION HISTORY
PL 1997, c. 315, §8 (NEW).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 4: INSURANCE ACTIVITIES BY SUPERVISED LENDERS › 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 producers
To the extent practicable, sales of insurance products authorized by this Part must take place in a manner that minimizes customer confusion between any noninsurance product offered by the supervised lender or its affiliates and those insurance products. A supervised lender, or its affiliates, is in compliance with this section if it utilizes signs clearly visible to its customers that distinguish insurance products of the supervised lender, or its affiliates, from its noninsurance products and that adequately identify insurance producers and consultants affiliated with the supervised lender.   [PL 2021, c. 676, Pt. C, §7 (AMD).]
SECTION HISTORY
PL 1997, c. 315, §8 (NEW). PL 2021, c. 676, Pt. C, §7 (AMD).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 4: INSURANCE › Part 4: INSURANCE ACTIVITIES BY SUPERVISED LENDERS › 9-A §4-407. Rulemaking

§4-407. Rulemaking
The Superintendent of Financial Institutions, the Superintendent of Insurance and the Superintendent of Consumer Credit Protection may undertake joint rulemaking, pursuant to this section, Title 9‑B, section 448, subsection 5 and Title 24‑A, section 1443‑A, subsection 3 to carry out the purposes of section 4‑406, including issues regarding signs, the physical location of sales of insurance and identification of producers affiliated with financial institutions, credit unions, financial institution holding companies or supervised lenders. In adopting rules pursuant to this Part, the Superintendent of Financial Institutions, the Superintendent of Insurance and the Superintendent of Consumer Credit Protection shall consider the possibility of confusion and perception of coercion among the insurance consuming public, the need for cost-effective delivery of insurance products to insurance consumers and the importance of parity among producers affiliated with federally chartered and state-chartered financial institutions and credit unions. Any rule adopted may not interfere significantly with the ability of a producer to solicit or negotiate the sale of an insurance product, whether or not that producer is affiliated with a financial institution, credit union, financial institution holding company or supervised lender, except when no other reasonable alternative exists that protects the insurance consuming public. Rules adopted under this Part are routine technical rules pursuant to Title 5, chapter 375, subchapter 2‑A. Nothing in this section is intended to restrict or interfere with the ability of the Bureau of Insurance, the Bureau of Financial Institutions or the Bureau of Consumer Credit Protection to adopt rules with respect to areas in which the respective agencies have independent jurisdiction.   [PL 2021, c. 676, Pt. C, §8 (AMD).]
SECTION HISTORY
PL 1997, c. 315, §8 (NEW). PL 1999, c. 127, §A19 (AMD). PL 2001, c. 44, §11 (AMD). PL 2001, c. 44, §14 (AFF). PL 2007, c. 273, Pt. B, §§5, 6 (REV). PL 2007, c. 273, Pt. B, §7 (AFF). PL 2007, c. 695, Pt. A, §47 (AFF). PL 2021, c. 676, Pt. C, §8 (AMD).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › 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 be cited as the "Maine Consumer Credit Code -- Remedies and Penalties."   [PL 1973, c. 762, §1 (NEW).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 5: REMEDIES AND PENALTIES › Part 1: LIMITATIONS ON CREDITORS' REMEDIES › 9-A §5-102. Scope

§5-102. Scope
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).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW). RR 2013, c. 2, §9 (COR).
2023 Maine Revised Statutes › TITLE 9-A: MAINE CONSUMER CREDIT CODE › Article 5: REMEDIES AND PENALTIES › Part 1: LIMITATIONS ON CREDITORS' REMEDIES › 9-A §5-103. Restrictions on deficiency judgments

§5-103. Restrictions on deficiency judgments
1.
This section applies to any consumer credit sale of goods or services and to any supervised loan.
[PL 1973, c. 762, §1 (NEW).]
2.
If a creditor takes possession of or voluntarily accepts surrender of goods in which that creditor has a security interest to secure a debt and the amount financed is $2,800 or less, the consumer and any sureties are not personally liable to the creditor for the unpaid balance of the debt.
[PL 1997, c. 727, Pt. B, §17 (AMD).]
3.
For the purpose of determining the unpaid balance of consolidated debts or debts pursuant to open end credit, the allocation of payments to a debt shall be determined in the same manner as provided for determining the amount of debt secured by various security interests, section 3‑303.
[PL 1973, c. 762, §1 (NEW).]
4.
The consumer may be liable in damages to the creditor if the consumer has willfully or intentionally damaged the collateral or if, after default and demand, the consumer has concealed the collateral from the creditor.
[PL 1973, c. 762, §1 (NEW).]
5.
If the creditor elects to bring an action against the consumer for a debt arising from a consumer loan or consumer credit sale of goods or services, when under this section he would not be entitled to a deficiency judgment if he repossessed the collateral and obtains judgment:
A. He may not repossess the collateral; and   [PL 1973, c. 762, §1 (NEW).]
B. The collateral is not subject to levy or sale on execution or similar proceedings pursuant to the judgment.   [PL 1975, c. 288, §3 (AMD).]
[PL 1975, c. 288, §3 (AMD).]
6.
[PL 1997, c. 727, Pt. B, §18 (RP).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW). PL 1975, c. 288, §3 (AMD). PL 1985, c. 763, §A41 (AMD). PL 1997, c. 727, §§B17,18 (AMD).