9-A §9-314. Prepayment penalty riders - 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)

§9-314. Prepayment penalty riders

A supervised lender may not impose a prepayment penalty provision through use of a rider or amendment to the loan contract if the terms of the loan contract state that no such prepayment penalty may be imposed or that such a penalty is not specifically authorized under state law. [2007, c. 273, Pt. A, §28 (NEW); 2007, c. 273, Pt. A, §41 (AFF).]

SECTION HISTORY

2007, c. 273, Pt. A, §28 (NEW). 2007, c. 273, Pt. A, §41 (AFF).