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PUBLIC LAWS OF MAINE
First Regular Session of the 121st

CHAPTER 100
H.P. 234 - L.D. 291

An Act To Provide Parity in Lending by State-chartered Lenders

Be it enacted by the People of the State of Maine as follows:

     Sec. 1. 9-A MRSA §2-501, sub-§1, ¶G, as amended by PL 1997, c. 94, §1, is repealed and the following enacted in its place:

     Sec. 2. 9-A MRSA §2-502, sub-§1, as amended by PL 1999, c. 184, §4, is further amended to read:

     1. With respect to a precomputed consumer credit transaction, a consumer lease or a fixed-rate consumer credit transaction that is not made pursuant to open-end credit and that is secured only by an interest in real estate, the parties A creditor may contract for and receive a delinquency charge on any outstanding, unpaid installment payment or portion of such payment due under a consumer credit transaction or open-end credit plan not paid in full within 15 days after its scheduled or deferred due date in an amount not exceeding the greater of:

Effective September 13, 2003, unless otherwise indicated.

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