Maine Statutes
§ 13 §1759 — Loans
Any lender is authorized to make loans secured by shares in a cooperative affordable housing corporation, including limited equity cooperatives. For purposes of Title 9‑A, section 1‑202, subsection (8), a loan secured by shares of a cooperative affordable housing corporation must be considered a loan secured by a mortgage on real estate.
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Legislative History
PL 1993, c. 300, §1 (NEW).
Nearby Sections
15
§ 13 §171
Formation of trusts forbidden§ 13 §173
Penalties§ 13 §1731
Procedure§ 13 §1741
Short title§ 13 §1742
Definitions§ 13 §1743
Application§ 13 §1744
Name; use of "cooperative"§ 13 §1748
Organizational meeting§ 13 §1749
Membership§ 13 §1750
Bylaws; minimum requirements§ 13 §1751
Membership shares; requirements