H.P. 1254 - L.D. 1808
An Act to Amend the Definition of Lender Under the Uncontrolled Hazardous Substance Sites Law
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 38 MRSA §1362, sub-§1-B, as amended by PL 1993, c. 355, §58, is further amended to read:
1-B. Lender. "Lender" means any person, as defined by Title 9-B, section 131, subsection 30, including a successor or assignee of that person, that makes a bona fide extension of credit to or takes or acquires a security interest from a nonaffiliated person; a financial institution or credit union authorized to do business in this State, as defined in Title 9-B, section 131, subsections 12-A and 17-A,; a financial institution that is acting through a service corporation pursuant to as defined in Title 9-B, section 445 131, subsection 5 37; or any federal or state banking or lending agency that provides loans, guarantees or other financial assistance. For the purpose of this subsection, the phrase "acting through" includes the assignment or transfer of an interest in real property acquired in satisfaction of a debt.
Effective September 18, 1999, unless otherwise indicated.
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