CHAPTER 276
S.P. 166 - L.D. 585
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 32 MRSA §4668, as amended by PL 1977, c. 696, §251, is repealed and the following enacted in its place:
1. Exclusions. This subchapter does not apply to the following:
A. A sale where the gross sales price, including any interest or carrying charges, is less than $25;
B. A transaction regulated under Title 9-A, sections 3-501 to 3-507;
C. A sale by a dealer or agent or salesman of a dealer registered pursuant to chapter 105 of stocks, bonds, debentures or securities representing stocks, bonds or debentures registered pursuant to chapter 105 or expressly exempt from registration pursuant to chapter 105;
D. A sale of insurance regulated under Title 24-A, sections 2515-A and 2717; or
E. A sale of credit services by a supervised lender, as defined in Title 9-A, section 1-301, subsection 39, or an agent or affiliate of a supervised lender to the extent the affiliate or agent is selling or offering to sell the credit services of the supervised lender. For purposes of this paragraph, "credit services" includes any extension of credit and any product or service that a supervised lender is authorized by law or regulation to sell in connection with or relating to an extension of credit, such as credit insurance and a debt cancellation policy. For the purposes of this paragraph, "affiliate" has the same meaning as that term is defined in Title 9-B, section 131, subsection 1-A. Transactions covered by this exemption are limited to those that become effective only after the consumer has affirmed the terms and conditions of the agreement by an acceptance initiated by the consumer.
Effective September 21, 2001, unless otherwise indicated.
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