§1123. Scope
1.
Application.
Except as provided in subsection 2, this chapter applies to any agreement signed in connection with a consumer loan or consumer lease entered into in this State between a consumer who is a resident of this State at the time of the loan or lease and a supervised lender or lessor.
[PL 1985, c. 763, Pt. A, §70 (AMD).]
2.
Exclusions.
This chapter does not apply:
A.
To consumer loans or consumer leases in which the amount financed or in the case of consumer leases, the capitalized cost of the leased property, exceeds $100,000; and
[PL 1985, c. 763, Pt. A, §70 (AMD).]
B.
To language or arrangement which is specifically required by federal or state law, regulation or official agency interpretation; or to agreements, the form or any part of which is required by any governmental instrumentality as a condition of the assignability of the agreement.
[PL 1979, c. 483 (NEW).]
[PL 1985, c. 763, Pt. A, §70 (AMD).]
SECTION HISTORY
PL 1979, c. 483 (NEW). PL 1985, c. 763, §A70 (AMD).