Me. Stat. tit. 9-A § 10-303

Current through 131st (2023-2024) Legislature Chapter 634

Section 10-303 - Requirement for written disclosure

Before any agreement is entered into, or before any money is paid by a consumer, whichever occurs first, the loan broker shall provide the consumer with written disclosure of material consumer protections, including the following: [2005, c. 274, §10 (AMD).]

1. The existence and purpose of the surety bond on file with the State, and the procedure for instituting an action against that bond;

[1989, c. 70, §3 (NEW).]

2. The requirement that all fees from the consumer, other than bona fide 3rd-party fees, be placed in an escrow account; and

[1989, c. 70, §3 (NEW).]

3. The requirement for a written, signed agreement between the parties.

[1989, c. 70, §3 (NEW).]

9-A M.R.S. § 10-303

1989, c. 70, § 3 (NEW) . 2005, c. 274, § 10 (AMD) .