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2012 Maine Revised Statutes
TITLE 10: COMMERCE AND TRADE
Chapter 202: CONSUMER LOAN AND LEASE AGREEMENTS
10 §1123. Scope


10 ME Rev Stat § 1123 (2012 through 125th Legis) What's This?

Part 3: REGULATION OF TRADE

§1123. Scope

1. Application. Except as provided in subsection 2, this chapter applies to any agreement signed in connection with a consumer loan or consumer lease entered into in this State between a consumer who is a resident of this State at the time of the loan or lease and a supervised lender or lessor.

[ 1985, c. 763, Pt. A, §70 (AMD) .]

2. Exclusions. This chapter does not apply:

A. To consumer loans or consumer leases in which the amount financed or in the case of consumer leases, the capitalized cost of the leased property, exceeds $100,000; and [1985, c. 763, Pt. A, §70 (AMD).]

B. To language or arrangement which is specifically required by federal or state law, regulation or official agency interpretation; or to agreements, the form or any part of which is required by any governmental instrumentality as a condition of the assignability of the agreement. [1979, c. 483, (NEW).]

[ 1985, c. 763, Pt. A, §70 (AMD) .]

SECTION HISTORY

1979, c. 483, (NEW). 1985, c. 763, §A70 (AMD).

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