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66 chapters · 278 sections in this title.
9-B M.R.S. § 431 Applicability of chapter
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The sections of this chapter govern loans made by financial institutions subject to the provisions of this Title.
9-B M.R.S. § 431-A Loan powers
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1. General loan authority. Unless otherwise prohibited by state law, a financial institution may make, sell, purchase, arrange, participate in, invest in or otherwise deal in loans or extensions of credit, as defined in section 439-A, for any purpose. 2. Written loan policy. A fi…
9-B M.R.S. § 432 Interest on loans
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1. Interest absent in writing. The maximum legal rate of interest on a loan made by a financial institution, in the absence of an agreement in writing establishing a different rate, shall be 6 percent per year. 2. Interest: noncommercial or consumer loans. A. The legal rate of in…
9-B M.R.S. § 433 Fair credit extension
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Every financial institution authorized to do business in this State shall be subject to and shall comply with the provisions of Title 5, sections 4595 to 4598 providing for the fair extension of credit by lenders in this State.