§3-312. Interest to be paid on funds held in escrow
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/me/title-9-a-maine-consumer-credit-code/3-312·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A supervised lender, including any of its assignees, that makes loans secured by a mortgage on real estate and which holds funds of a mortgagor in an escrow account for the payment of taxes or insurance premiums, either on its own behalf or on behalf of another mortgagee, shall pay interest on those funds in accordance with Title 9‑B, section 429 . [PL 1983, c. 679, §1 (NEW).]