This subchapter applies to transactions: [1999, c. 145, §1 (NEW).]
1.Purposes.
That are incurred primarily for personal, family or household purposes;
[
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;
[
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;
[
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
[
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.
[
1999, c. 145, §1 (NEW)
.]
SECTION HISTORY
1999, c. 145, §1 (NEW).
Data for this page extracted on 10/16/2012 08:28:20.