Certain negotiable instruments prohibited

  1. Law
  2. Maine Revised Statutes
  3. MAINE CONSUMER CREDIT CODE
  4. REGULATION OF AGREEMENTS AND PRACTICES
  5. LIMITATIONS ON AGREEMENTS AND PRACTICES
  6. Certain negotiable instruments prohibited

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§3-307. Certain negotiable instruments prohibited

With respect to a consumer credit sale or consumer lease, the creditor may not take a negotiable instrument, other than a currently dated check or a draft payable within 7 days of such sale or lease.   [PL 1981, c. 243, §18 (AMD).]

SECTION HISTORY

PL 1973, c. 762, §1 (NEW). PL 1981, c. 243, §§18,26 (AMD). PL 1981, c. 551, §3 (AMD).


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