9-A §9-306. Notice of assignment - Maine Statutes

Title 9-A: MAINE CONSUMER CREDIT CODE

Article 9: CONSUMER CREDIT TRANSACTIONS MADE TO ACQUIRE REAL ESTATE OR SECURED BY FIRST-LIEN MORTGAGES HEADING: PL 1987, C. 396, §12 (NEW); 2007, C. 273, PT. A, §36 (AMD)

Part 3: REGULATION OF AGREEMENTS AND PRACTICES HEADING: PL 1987, C. 396, §12 (NEW)

§9-306. Notice of assignment

A consumer is not obligated to make payments on a consumer credit transaction to any creditor, other than the original creditor, until he receives notification of assignment of rights to payment and that payment is to be made to the assignee. A notification which does not clearly and conspicuously identify the rights assigned is ineffective. If requested by the consumer, the assignee must seasonably furnish reasonable proof that the assignment has been made and unless he does so the consumer may pay the original creditor. [1987, c. 396, §12 (NEW).]

SECTION HISTORY

1987, c. 396, §12 (NEW).