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33 §523. Applicability

33 ME Rev Stat § 523 (2019) (N/A)
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§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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