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2012 Maine Revised Statutes
TITLE 9-A: MAINE CONSUMER CREDIT CODE
Article 4: INSURANCE
9-A §4-302. Insurance on creditor's interest only


9-A ME Rev Stat § 4-302 (2012 through 125th Legis) What's This?

Part 3: PROPERTY AND LIABILITY INSURANCE

§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. [1973, c. 762, §1 (NEW).]

SECTION HISTORY

1973, c. 762, §1 (NEW).

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