Maine Statutes
§ 9-B §432 — Interest on loans
Maine·Title 9-B FINANCIAL INSTITUTIONS·Part 4 POWERS AND DUTIES OF FINANCIAL INSTITUTIONS·Ch. 43 LOANS IN GENERAL
1.Interest absent in writing.
The maximum legal rate of interest on a loan made by a financial institution, in the absence of an agreement in writing establishing a different rate, shall be 6 percent per year.
2.Interest: noncommercial or consumer loans.
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Legislative History
PL 1975, c. 500, §1 (NEW).
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Borrowing capacity