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Me. Rev. Stat. tit. 9-A, § 10-303

Requirement for written disclosure

PL 1989, c. 70, §3 (NEW)

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:

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

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

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

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