There is a newer version
of
this Section
2017 Maine Revised Statutes
TITLE 33: PROPERTY
Chapter 9: MORTGAGES OF REAL PROPERTY
Subchapter 1: GENERAL PROVISIONS
33 §503. Property insurance
Universal Citation: 33 ME Rev Stat § 503 (2017)
§503. Property insurance
No person or financial institution making a residential mortgage loan for one to 4 residential units may, as a condition of the mortgage or as a term of the mortgage deed, require that the mortgagor carry property insurance on the property which is the subject of the mortgage in excess of the replacement cost of any buildings or appurtenances subject to the mortgage. [1985, c. 182, (NEW).]
SECTION HISTORY
1985, c. 182, (NEW).
Disclaimer: These codes may not be the most recent version. Maine may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
