CHAPTER 122
H.P. 519 - L.D. 710
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 9-A MRSA §1-301, sub-§11, ķA, as amended by PL 1987, c. 396, §4, is further amended to read:
A. Except as provided in paragraph B, a A "consumer credit sale" is a sale of goods, services or an interest in land in which:
(i) credit Credit is granted either pursuant to a credit card other than a lender credit card or by a seller who regularly engages as a seller in credit transactions of the same kind;
(ii) the The buyer is a person other than an organization;
(iii) the The goods, services or interest in land are purchased primarily for a personal, family or household purpose;
(iv) either Either the debt is payable in instalments installments or a finance charge is made; and
(v) with With respect to a sale of goods or services, not including manufactured housing or a motor vehicle, the amount financed does not exceed $25,000; and
(vi) With respect to a sale of a motor vehicle as defined in Title 29-A, section 101, subsection 42, the amount financed does not exceed $35,000.
See title page for effective date.
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