Maine Revised Statutes Title 9-A Sec. 4-106 – Unconscionability
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1. In applying the provisions of this Act on unconscionability, sections 5?108 and 6?111, to a separate charge for insurance, consideration shall be given, among other factors, to:
A. Potential benefits to the consumer including the satisfaction of his obligations; [PL 1973, c. 762, §1 (NEW).]
B. The creditor’s need for the protection provided by the insurance; and [PL 1973, c. 762, §1 (NEW).]
C. The relation between the amount and terms of credit granted and the insurance benefits provided. [PL 1973, c. 762, §1 (NEW).]
[PL 1973, c. 762, §1 (NEW).]
2. If consumer credit insurance otherwise complies with Parts 1, 2 and 3 of this Article and other applicable law, neither the amount nor the term of the insurance nor the amount of a charge therefor is in and of itself unconscionable in the absence of other practices and circumstances.
[PL 1997, c. 315, §3 (AMD).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW). PL 1997, c. 315, §3 (AMD).