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2010 Maine Code
TITLE 9-A: MAINE CONSUMER CREDIT CODE
Article 8: TRUTH-IN-LENDING
9-A §8-404. Prompt crediting of payments


9-A ME Rev Stat § 8-404 (2010 through 124th Legis) What's This?

Part 4: FAIR CREDIT BILLING

§8-404. Prompt crediting of payments

Payments received from an obligor under an open-end consumer credit plan by the creditor shall be posted promptly to the obligor's account as specified in regulations of the administrator. The regulations shall prevent a finance charge from being imposed on any obligor if the creditor has received the obligor's payment in readily identifiable form in the amount, manner, location and time indicated by the creditor to avoid the imposition of a finance charge. [1981, c. 243, §25 (NEW).]

SECTION HISTORY

1981, c. 243, §§25,26 (NEW). 1981, c. 551, §3 (AMD).

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