Maine Revised Statutes Title 9-A Sec. 11-109 – Prohibited practices
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A rental-purchase agreement may not contain: [PL 1991, c. 787 (NEW).]
1. A confession of judgment;
[PL 1991, c. 787 (NEW).]
Terms Used In Maine Revised Statutes Title 9-A Sec. 11-109
- 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
- Merchant: means a person who regularly provides the use of property through rental-purchase agreements and to whom rental payments are initially payable on the face of the rental-purchase agreement. See Maine Revised Statutes Title 9-A Sec. 11-105
- Periodic payment: means the total payment the consumer will make for a specific rental period, including the rental payment, any administrative fees or delivery charges, taxes and fees or charges for optional products and services. See Maine Revised Statutes Title 9-A Sec. 11-105
- Rental payment: means a payment to be made by a consumer for the right of possession and use of rental property for a specific rental period, but does not include taxes imposed on such payment. See Maine Revised Statutes Title 9-A Sec. 11-105
- 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
2. A negotiable instrument;
[PL 1991, c. 787 (NEW).]
3. A security interest or any other claim of a property interest in any goods except those goods delivered by the merchant pursuant to the rental-purchase agreement;
[PL 1991, c. 787 (NEW).]
4. A wage assignment;
[PL 1991, c. 787 (NEW).]
5. A waiver by the consumer of claims or defenses;
[PL 1991, c. 787 (NEW).]
6. A provision authorizing the merchant or a person acting on the merchant’s behalf to enter on the consumer’s premises or commit any breach of the peace in repossession of goods;
[PL 1991, c. 787 (NEW).]
7. A provision requiring the purchase from the merchant of a liability damage waiver or insurance for the merchandise;
[PL 1991, c. 787 (NEW).]
8. A provision requiring the payment of a late charge unless a rental payment is more than 3 days late for an agreement that is renewed on a weekly basis or more than 5 days late for an agreement that is renewed less frequently than on a weekly basis;
[PL 1991, c. 787 (NEW).]
9. A provision requiring a payment at the end of the rental-purchase agreement period in excess of or in addition to a regular periodic payment in order for the consumer to acquire ownership of the property or payment of rental payments in excess of the total amount necessary to acquire ownership of the property;
[PL 1991, c. 787 (NEW).]
10. A penalty for early termination of a rental-purchase agreement or for the return of an item at any time;
[PL 1991, c. 787 (NEW).]
11. A provision for payment by a cosigner of the rental-purchase agreement of any fees or charges that could not be assessed to the consumer as part of the rental-purchase agreement; or
[PL 1991, c. 787 (NEW).]
12. An offer of insurance from the merchant to the consumer.
[PL 1991, c. 787 (NEW).]
SECTION HISTORY
PL 1991, c. 787 (NEW).