HP0265
LD 331		 First Regular Session - 123rd Legislature - Text: MS-Word, RTF or PDF LR 591
Item 1
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An Act To Incorporate the Federal Real Estate Settlement Procedures Act into the Maine Consumer Credit Code

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 9-A MRSA §3-315  is enacted to read:

§ 3-315.  Real estate settlement procedures

A creditor shall comply with the provisions of the federal Real Estate Settlement Procedures Act of 1974, 12 United States Code, Section 2601 et seq. and its implementing regulation, Regulation X, 24 Code of Federal Regulations, Section 3500 et seq.

Sec. 2. 9-A MRSA §9-311  is enacted to read:

§ 9-311.  Real estate settlement procedures

A creditor shall comply with the provisions of the federal Real Estate Settlement Procedures Act of 1974, 12 United States Code, Section 2601, et seq. and its implementing regulation, Regulation X, 24 Code of Federal Regulations, Section 3500 et. seq.

Sec. 3. 9-A MRSA §10-307  is enacted to read:

§ 10-307.  Real estate settlement procedures

A loan broker shall comply with the provisions of the federal Real Estate Settlement Procedures Act of 1974, 12 United States Code, Section 2601 et seq. and its implementing regulation, Regulation X, 24 Code of Federal Regulations, Section 3500 et seq.

summary

This bill incorporates the federal Real Estate Settlement Procedures Act of 1974 and its implementing regulation into state law.

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