An Act To Clarify the Application of Certain Statutory Requirements to Foreclosures
Emergency preamble. Whereas, acts and resolves of the Legislature do not become effective until 90 days after adjournment unless enacted as emergencies; and
Whereas, provisions in Public Law 2009, chapter 402 relating to the notices of a mortgagor's right to cure default were intended to apply to all residential mortgage loans; and
Whereas, an exception to the notice provision applicable to certain mortgage loans was not repealed in Public Law 2009, chapter 402; and
Whereas, this legislation repeals the exception so that the requirements for notices to cure default apply to all residential mortgages; and
Whereas, in the judgment of the Legislature, these facts create an emergency within the meaning of the Constitution of Maine and require the following legislation as immediately necessary for the preservation of the public peace, health and safety; now, therefore,
Emergency clause. In view of the emergency cited in the preamble, this legislation takes effect when approved.