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Me. Rev. Stat. tit. 24-A, § 2860-A

Commissions

Known as the Consumer Credit Insurance Act

The act spans §§ 2851–2865 (17 sections).

PL 1993, c. 208, §3 (NEW)

A commission not exceeding 5% of credit life and health insurance premiums, as set forth by rules adopted by the superintendent, may be paid to any creditor who is a licensed credit insurance agent. This section does not prohibit fees paid to a lender for handling or processing credit life or health insurance not exceeding 10% of prima facie premiums as set forth by rules adopted by the superintendent.

Official source: Maine Legislature. Reproduced from public-domain Maine statutes; confirm against the official source for the current text. Not legal advice.