Maine Revised Statutes Title 9-A Sec. 11-106 – Inapplicability of other laws; exempt transactions
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1. A rental-purchase agreement that complies with this Article is not considered or governed by the laws related to:
B. A “consumer credit sale” as defined in section 1?301, subsection 11; except that the following sections of the Maine Consumer Credit Code apply: section 1?107, waiver, agreement to forego rights, settlement of claims; section 1?111, record retention; section 1?201, territorial application; section 1?202, exclusions; section 1?203, jurisdiction and service of process; section 2?507, attorney’s fees and collection costs; section 3?202, notice to consumer; section 3?203, notice of assignment; section 3?305, no assignment of earnings; section 3?306, authorization to confess judgment prohibited; section 3?307, certain negotiable instruments prohibited; section 3?309, referral sales; section 3?403, assignee subject to defenses; section 5?104, no garnishment before judgment; section 5?105, limitation on garnishment; section 5?106, no discharge from employment for garnishment; section 5?112, creditor’s right to take possession after default; section 5?113, venue; section 5?114, stay of enforcement of judgment; section 5?115, misrepresentation; section 5?116, illegal, fraudulent or unconscionable conduct in attempted collection of debts; section 5?117, prohibited practices; section 5?201, effect of violations on rights of parties; section 5?202, refunds and penalties as setoff to obligation; section 5?301, violations; Article VI in its entirety, except that the term “original unpaid balances arising from consumer credit transactions” described in section 6?203, subsection 2 means “gross rental receipts from rental-purchase agreements” for purposes of administration of this Article; Article 8?A requirements related to model forms; and Federal Truth in Lending Act, 15 United States Code § 1666a requirements related to credit reports; [PL 2011, c. 427, Pt. D, §15 (AMD).]
E. A “security interest” as defined in Title 11, section 1?1201, subsection (35). [PL 2021, c. 676, Pt. A, §11 (AMD).]
[PL 2021, c. 676, Pt. A, §11 (AMD).]
Terms Used In Maine Revised Statutes Title 9-A Sec. 11-106
- Consumer: means an individual who rents personal property under a rental-purchase agreement used primarily for personal, family or household purposes. See Maine Revised Statutes Title 9-A Sec. 11-105
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Personal property: All property that is not real property.
- Real estate: includes lands and all tenements and hereditaments connected therewith, and all rights thereto and interests therein. See Maine Revised Statutes Title 1 Sec. 72
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Rental-purchase agreement: means an agreement for the use of personal property by an individual primarily for personal, family or household purposes for an initial period of 4 months or less that is automatically renewable with each payment after the initial period and that permits the consumer to become the owner of the property, but does not obligate or require the consumer to continue renting or using the property beyond the initial period. See Maine Revised Statutes Title 9-A Sec. 11-105
- Service of process: The service of writs or summonses to the appropriate party.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC
- United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72
- Venue: The geographical location in which a case is tried.
2. This Article does not apply to:
A. A rental-purchase agreement made primarily for business, commercial or agricultural purposes or made with a governmental agency or instrumentality; [PL 1991, c. 787 (NEW).]
B. A lease of a safe-deposit box; [PL 1991, c. 787 (NEW).]
C. A lease or bailment of personal property that is incidental to the lease of real property and does not provide the consumer with an option to purchase the leased property; [PL 1991, c. 787 (NEW).]
D. A lease of an automobile; or [PL 1991, c. 787 (NEW).]
E. A lease of real estate. [PL 1991, c. 787 (NEW).]
[PL 1991, c. 787 (NEW).]
SECTION HISTORY
PL 1991, c. 787 (NEW). PL 2011, c. 427, Pt. D, §15 (AMD). PL 2021, c. 676, Pt. A, §11 (AMD).