Maine Revised Statutes Title 24-A. Maine Insurance Code § 2851. Scope of provisions

1. Long-term loan. Insurance in connection with a loan or other credit transaction of more than 15 years' duration;

2. Isolated transactions. Insurance issued in an isolated transaction on the part of the insurer not related to an agreement or a plan for insuring debtors of the creditor;

3. Real estate loan. Insurance in connection with real estate loans when the charge, if any, to the debtor is periodic and not financed;

4. Casualty insurance. Insurance issued pursuant to section 707, subsection 1, paragraph I against loss or damage resulting from failure of debtors to pay their obligations to the insured; or

5. Debt cancellation agreements. Debt cancellation agreements entered into between financial institutions or credit unions and their debtors.