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Maine Revised Statutes Title 9-A. Maine Consumer Credit Code § 2-301. Authority to make or service supervised loans

Current as of January 01, 2025 | Updated by Findlaw Staff

Unless a person is a supervised financial organization, a financial institution holding company as defined in Title 9-B, section 1011, subsection 1 or a mutual holding company as defined in Title 9-B, section 1052, subsection 2 or has first obtained a license pursuant to this Act from the administrator authorizing the person to make or service supervised loans, the person may not engage in the business of:

1. Making supervised loans;

2. Taking assignments of and undertaking direct collection of payments from or enforcement of rights against debtors arising from supervised loans; or

3. Servicing mortgage loans.

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Cite this article: FindLaw.com - Maine Revised Statutes Title 9-A. Maine Consumer Credit Code § 2-301. Authority to make or service supervised loans - last updated January 01, 2025 | https://codes.findlaw.com/me/title-9-a-maine-consumer-credit-code/me-rev-st-tit-9-a-sect-2-301/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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