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§522
Title 33: PROPERTY
Chapter 9: MORTGAGES OF REAL PROPERTY
Subchapter 1-A: FUNDED SETTLEMENT ACT
§524

§523. Applicability

This subchapter applies to transactions:   [PL 1999, c. 145, §1 (NEW).]
1.  Purposes.  That are incurred primarily for personal, family or household purposes;  
[PL 1999, c. 145, §1 (NEW).]
2.  Not open-end credit.  That are not open-end credit as that term is defined in Title 9‑A, section 1‑301, subsection 26;  
[PL 1999, c. 145, §1 (NEW).]
3.  Not involving multiple advances.  That do not contemplate multiple advances of funds as set forth in or required by the terms of the loan documents;  
[PL 1999, c. 145, §1 (NEW).]
4.  Location of lender or closing.  When the lending office or branch from which the loan is made is located in this State or the loan closing occurs within this State; and  
[PL 1999, c. 145, §1 (NEW).]
5.  Secured by mortgages.  That are secured by mortgages on real estate containing not more than 4 residential dwelling units.  
[PL 1999, c. 145, §1 (NEW).]
SECTION HISTORY
PL 1999, c. 145, §1 (NEW).
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