§2-507. Attorney's fees and collection costs
133 words·~1 min read·
/me/title-9-a-maine-consumer-credit-code/2-507·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. With respect to a consumer credit sale or lease, or a supervised loan, the agreement may not provide for the payment by the consumer of attorney's fees or any other collection cost. A provision in violation of this section is unenforceable.
[PL 1973, c. 762, §1 (NEW).]
2. With respect to any other consumer credit transaction, the agreement may provide for the payment by the debtor of reasonable attorney's fees not in excess of 15% of the unpaid debt after default and referral to an attorney not a salaried employee of the creditor, but the agreement may not provide for the payment by the consumer of any other collection costs. A provision in violation of this subsection is unenforceable.
[PL 1973, c. 762, §1 (NEW).]
3.
[PL 1981, c. 618, §6 (RP).]