9-A M.R.S. § 3-402
This is the official text of 9-A M.R.S. § 3-402, part of Maine’s M.R.S — part of the compiled statutory law of Maine, published by the state as "M.R.S." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
9-A §3-402. Limitation on default charges
Official statutory text
1. The agreement with respect to a consumer credit transaction may not provide for any charges as a result of default by the consumer, except that the agreement may provide for the following: A. Charges authorized by other provisions of this Act; [PL 1991, c. 237 (NEW).] B. Notwithstanding section 2‑507 , reasonable charges incurred in realizing on a security interest in personal property securing a consumer loan, consumer lease or a consumer credit sale, other than attorney's fees; and [PL 1999, c. 150, §5 (AMD).] C. Notwithstanding section 2‑507 , reasonable attorney's fees, legal expenses and other reasonable costs incurred in realizing on real property securing a consumer loan or a consumer credit sale. [PL 1991, c. 237 (NEW).] [PL 1999, c. 150, §5 (AMD).]
2. A provision in violation of this section is unenforceable. [PL 1991, c. 237 (NEW).]
3. Notwithstanding subsections 1 and 2 , a creditor that complies with Title 14, sections 6071 and 6073 is entitled to the remedies provided in those sections when an instrument that the creditor has taken in connection with a consumer loan, consumer lease or consumer credit sale is dishonored. [PL 1999, c. 150, §6 (NEW).]
2. A provision in violation of this section is unenforceable. [PL 1991, c. 237 (NEW).]
3. Notwithstanding subsections 1 and 2 , a creditor that complies with Title 14, sections 6071 and 6073 is entitled to the remedies provided in those sections when an instrument that the creditor has taken in connection with a consumer loan, consumer lease or consumer credit sale is dishonored. [PL 1999, c. 150, §6 (NEW).]
Status: in_force · Read it on the official government site
Need a lawyer in Maine?
Find a Maine lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.