Maine Statutes
§ 33 §525 — Duty of settlement agent
The settlement agent shall cause recordation of any deed, mortgage or other documents required to be recorded and shall cause disbursement of settlement proceeds within 2 business days of settlement or, when any right of rescission applies pursuant to the federal Truth-in-Lending Act, 15 United States Code, Section 1601 et seq. or the state truth-in-lending provisions, Title 9‑A, Article 8‑A, as applicable, at the time that the settlement agent reasonably determines that such right of rescission has not been exercised.
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Legislative History
PL 1999, c. 145, §1 (NEW). PL 2011, c. 427, Pt. D, §24 (AMD).
Nearby Sections
15
§ 33 §501
Forms§ 33 §501-A
"Power of sale"§ 33 §502
Entry by mortgagee§ 33 §503
Property insurance§ 33 §505
Open-end mortgages§ 33 §506
Undocumented mortgage agreements§ 33 §508
Nominee mortgagees§ 33 §521
Short title§ 33 §522
Definitions§ 33 §523
Applicability