Maine § 10 §375 Loans

Maine Statutes

§ 10 §375 — Loans

Maine § 10 §375

Title 10COMMERCE AND TRADE

Part 1GENERAL PROVISIONS

Ch. 11KIM WALLACE ADAPTIVE EQUIPMENT LOAN PROGRAM

This text of Maine § 10 §375 (Loans) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 10, § 10 §375 (2026).

Text

1.Demonstration of purpose of loan. The board may enter into loan agreements with any qualifying borrower and exercise all powers of a lender or creditor. Loan security may include the acquisition, use, management, improvement or disposition of any interest in, or type of, real or personal property, including grant, purchase, sale, borrow, loan, lease, foreclosure, mortgage, assignment or other lawful means, with or without public bidding and also including the assessment of fees, the forgiveness of indebtedness, the receipt of reimbursements for expenses incurred in carrying out its purposes and the expenditure or investment of its funds. The borrower must demonstrate that:

2.Loan limit. Any necessary loan limitation shall be determined by the board.

3.Terms. All loans must be repaid w

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1.
Demonstration of purpose of loan.
The board may enter into loan agreements with any qualifying borrower and exercise all powers of a lender or creditor. Loan security may include the acquisition, use, management, improvement or disposition of any interest in, or type of, real or personal property, including grant, purchase, sale, borrow, loan, lease, foreclosure, mortgage, assignment or other lawful means, with or without public bidding and also including the assessment of fees, the forgiveness of indebtedness, the receipt of reimbursements for expenses incurred in carrying out its purposes and the expenditure or investment of its funds. The borrower must demonstrate that:
2.
Loan limit.
Any necessary loan limitation shall be determined by the board.
3.
Terms.
All loans must be repaid within such terms and at such interest rates as the board may determine to be appropriate in accordance with guidelines established by rulemaking pursuant to the Maine Administrative Procedure Act, Title 5, chapter 375.
4.
Distribution.