Advisory Rulings

# Description Date Issued by Status
001 Single payment notes of $1,000 or less (PDF) 1984-12-27 CCP Active
002 Elimination of 30 and 15 day retro credit insurance plans (PDF) 1975-01-27 CCP Active
003 Consolidation of credit sales; Right to Cure subsequent defaults (PDF) 1975-01-27 CCP Active
004 Whether Right to Cure is required on more than one occasion. The extent to which consumer loans secured by real estate are covered by the Code (PDF) 1975-01-27 CCP Active
005 Interpretation of "Agricultural Purposes" (PDF) 1975-01-27 CCP Active
006 Whether a law firm is subject to Code (PDF) 1975-02-07 CCP Active
007 Whether a licensed collection agency is subject to the Code (PDF) 1975-02-13 CCP Active
008 Repealed - See Advisory Ruling #58   CCP Repealed
009 Repealed - See Advisory Ruling #58   CCP Repealed
010 Repealed - See Advisory Ruling #58   CCP Repealed
011 Repealed - See Advisory Ruling #58   CCP Repealed
012 Security Interests - Consumer Credit Sales. Reference to deficiency judgements and attorney fees in contract forms (PDF) 1975-03-07 CCP Active
013 Repealed - See Advisory Ruling #58   CCP Repealed
014 Right to Cure Notice, re: Set off actions (PDF) 1975-05-20 CCP Active
015 Qualification for Consolidation Loans. Applicability of 2-308(3) to loans made prior to enactment of Code (PDF) 1975-06-05 CCP Active
016 Whether or not foreign corporations may be licensed as a "Supervised Lenders" (PDF) 1975-06-06 CCP Active
017 Restrictions on Deficiency Judgments (PDF) 1975-06-11 CCP Active
018 Minimum charges permitted for consumer loans (PDF) 1975-06-19 CCP Active
019 Identifying waiver notice under the UCC to avoid confusion with the Notice to Cure under the Code (PDF) 1975-06-30 CCP Active
020 Security interests arising by operation of law - applicability of rescission provisions of T.I.L. to well drillers (PDF) 1975-08-19 CCP Active
021 Clarification of $500 limitation on sale of property insurance (PDF) 1975-09-04 CCP Active
022 Notice of Right to Cure. Applicability to transactions made prior to the enactment of the Code (PDF) 1975-09-10 CCP Active
023 Repealed - See Advisory Ruling #88   CCP Repealed
024 Advertising relating to simple interest loans (PDF) 1975-11-21 CCP Active
025 5% discounts not a finance charge if granted to cash and credit customers alike if no credit card involved (PDF) 1975-12-05 CCP Active
026 Repossession of automobile when transaction made outside of State (PDF) 1975-12-09 CCP Active
027 Language in contract forms referencing attorney fees if APR below 12 1/4% (PDF) 1975-12-17 CCP Active
028 Whether a creditor can rewrite a single payment note of 12 1/4% or less into an installment note over 12 1/4% and raise the rate by more than 1/4 or 1% (PDF) 1976-02-09 CCP Active
029 Recovery of attorney fees by credit or following default on credit sales (PDF) 1976-02-20 CCP Active
030 Whether or not a cause of action arising under Maine's T.I.L. law prior to June 12, 1975 could be initiated after June 25, 1975 (PDF) 1976-02-20 CCP Active
031 Minimum charge - Open End Credit (PDF) 1976-04-08 CCP Active
032 Prejudgment Attachments & Mechanic's Lien (PDF) 1976-04-08 CCP Active
033 Repealed - See Bureau Rule 02-030-190   CCP Repealed
034 Rebate Procedures (PDF) 1976-05-12 CCP Active
035 Balloon payments (PDF) 1976-08-18 CCP Active
036 Repealed - See Advisory Ruling #88   CCP Repealed
037 Filing Fee Requirements 11, M.R.S.A., Section 9-302 Uniform Commercial Code (PDF) 1978-07-07 CCP Active
038 Late charge vs. finance charge regarding credit extended by insurance agencies (PDF) 1977-03-11 CCP Active
039 Skip payment provision in credit contracts constitutes balloon payments (PDF) 1979-01-30 CCP Active
039-A Further clarification of letter 39 - Skip payment provision (payment holiday) (PDF) 1979-06-11 CCP Active
040 Notice requirements on secured and unsecured transactions (PDF) 1979-04-18 CCP Active
041 Repealed - See Advisory Ruling #52   CCP Repealed
042 Charges on refinancing (PDF)   CCP  
043 Repealed - See Advisory Ruling #52   CCP Repealed
043-A Repealed - See Advisory Ruling #52   CCP Repealed
044 Refinancing single payment Notes (PDF) 1980-02-06 CCP Active
045 Variable rate transactions (PDF) 1980-05-16 CCP Active
046 Automatic late charge increases upon adjustment of dollar amounts (PDF) 1980-07-07 CCP Active
047 Method of assessing finance charges on open-end accounts (PDF) 1980-07-16 CCP Active
048 (Revised - See AR #71) Clarification of right to cure procedures for insurance premium loans (PDF) 1980-08-28 CCP Active
049 Repealed - See Advisory Ruling #88   CCP Repealed
049-A Repealed - See Advisory Ruling #88   CCP Repealed
050 Imposition of finance charge - merchandise certificates (PDF) 1980-12-19 CCP Active
051 Prohibition of N.S.F. check fees (PDF) 1981-01-06 CCP Active
052 Revocation of AR's 41, 43, 43A (PDF) 1981-03-11 CCP Active
053 Increase in monthly payments doesn't trigger notice requirements (PDF) 1981-03-27 CCP Active
054 Closing of supervised loans at attorney's office (PDF) 1981-05-04 CCP Active
055 Repealed - See Advisory Ruling #88   CCP Repealed
056 Buydown arrangements - Code implications (PDF) 1981-08-05 CCP Active
057 Refinancing agricultural transactions (PDF) 1981-08-10 CCP Active
058 Late Charge vs. Finance Charge Fuel Deal (PDF) 1981-08-17 CCP Active
059 Maximum Finance Charges - Mobile Home transactions (PDF) 1981-09-02 CCP Active
060 1st lien exemption (PDF) 1981-10-30 CCP  
060-A Future advance clauses in first lien mortgages (PDF) 1985-01-05 CCP Active
061 Maximum Finance Charges - Mobile Home transactions (PDF) 1981-10-29 CCP Active
062 Repealed - See Advisory Ruling #88   CCP Repealed
063 Disclosure of unit cost of insurance on open end credit (PDF) 1981-10-22 CCP Active
064 License not required for assignees merely taking assignments (PDF) 1982-02-03 CCP Active
065 Subsequent change in dollar amounts do not affect initial contracts (PDF) 1982-02-08 CCP Active
066 Repealed - See Advisory Ruling #88   CCP Repealed
067 Motion for relief from automatic stay costs (U.S. Bankruptcy Court), not prohibited (PDF) 1982-06-24 CCP Active
068 SFO's making ERISA loans - do not need supervised lender's license (PDF) 1982-09-16 CCP Active
069 Disclosure of total of payments - demand loans, in notice to co-maker (PDF) 1982-10-21 CCP Active
070 Refinancing of residential mortgage transactions (PDF) 1982-11-05 CCP Active
071 Revision of AR 48, Right to Cure procedure for insurance premium finance transactions (PDF) 1982-11-05 CCP Active
072  Annual fees - lender credit card (PDF) 1983-01-28 CCP Active
073 Graduated payment adjustable mortgage loans - repayment schedules may violate 3-308 (PDF) 1983-02-04 CCP Active
074 Repealed - See Advisory Ruling #88   CCP Repealed
075 Annual charges on lender credit cards (PDF) 1983-11-28 CCP Active
076 Impact of §3-310 on adjustable rate mortgage instruments with fixed rate conversion options (PDF) 1984-04-27 CCP Active
077 Extent of exclusion of certain mortgage loan documents from the requirements of Maine's "Plain Language" law (PDF) 1984-09-26 CCP Active
077-A Modification of effective date of AR #77 (PDF) 1984-11-28 CCP Active
078 Extent of exemption of certain student loan programs from Section 1-202(7) (PDF) 1984-12-07 CCP Active
079 Consumer's choice of attorney in residential mortgage transaction (PDF) 1985-08-26 BFI & CCP Active
080 Supervised lender licensing requirements for assignees under §2-301(2) (PDF) 1985-08-27 CCP Active
081 Late charges in consumer credit transactions in which no finance charge is imposed (PDF) 1985-10-01 CCP Active
082 Disclosure of additional payments in variable rate transactions (PDF) 1985-10-01 CCP Active
083 Limitation of lessee's liability oat end of lease (PDF) 1985-10-01 CCP Active
084 Interaction of variable rate consumer credit transactions and rules of re-financing (PDF) 1985-12-31 CCP Active
085  Refinancing balloon obligations (PDF) 1985-12-31 CCP Active
086 Fees charged for servicing mortgage escrow accounts, §3-312 (PDF) 1985-12-31 CCP Active
087 Cosigner notices for joint open-end account holders (PDF) 1985-12-31 CCP Active
088 Revisions in AR #1 - #87 (PDF) 1986-07-14 CCP Active
089 Code prohibition of pre-payment penalties (§2-509) and Federal Housing Administration Mortgages (PDF) 1987-05-01 CCP Active
090 Applicability of §3-311 ("Bring-Your-Own-Layer-Law") to all forms of real estate secured lending (PDF) 1987-05-01 CCP Active
090-A Supplement to AR #90, applicability of §3-311 to real estate-secured lending in which the lender absorbs the cost of title examination (PDF) 1987-05-29 CCP Active
091 Miscellaneous Truth-In-Lending Disclosure issues in real estate transactions (PDF) 1987-05-29 CCP Active
092 Advertising weekly payments under a monthly amortizing repayment plan. (PDF) 1987-05-29 CCP Active
093 Automobile repossession accounting "Overallowance" (PDF) 1989-07-27 CCP Active
094 Territorial applications; loans closed in attorney's office (PDF) 1990-04-02 CCP Active
095 Credit amount returned check charges (PDF) 1990-04-02 CCP Active
096 FNMA "Two Step" mortgage program (PDF) 1990-05-02 CCP Active
097 Notice of Right to Cure Default (weekly auto payments) (PDF) 1991-03-30 CCP Active
098 Credit sale of land not supervised loan (PDF) 1991-05-20 CCP Active
099 Public Law 237 (1991); An Act to Authorize Recovery of Certain Collection Costs" (PDF) 1991-07-24 CCP Active
100 Secured credit cards (PDF) 1993-04-22 CCP Active
101 Schedule of payments (PDF) 1993-05-04 CCP Active
102 Open-end credit not secured by real estate (PDF) 1993-07-09 CCP Active
103 Conversion to daily periodic rate - home equity loans (PDF) 1993-05-12 CCP Active
104 Involuntary unemployment (loss of income) credit insurance (PDF) 1994-05-12 CCP Active
105 Optical Imaging (PDF) 1996-11-01 BFI & CCP Active
106 Disclosures of reverse mortgages and consumer leases (PDF) 1997-04-01 BFI & CCP Active
107 Repossession fees in connection with consumer lease transactions (PDF) 2011-07-18 BFI & CCP Active
108 Real estate mortgage escrow account (PDF) 1999-05-23 CCP Active
109 Deferral of First Periodic Payment (PDF) 2001-09-20 BFI & CCP Active
110 Odd Days or Per Diem Interest (PDF) 2007-12-10 BFI & CCP Active
111 Exclusion of HELOCs from definition of “sub-prime loan” (PDF) 2007-12-17 BFI & CCP Active
112 Computation of “Total Loan Amount” (PDF) 2007-12-26 BFI & CCP Active
113 “Ability to Pay” under Bureaus’ Joint Rule: Guidelines for Determining Reasonable, TangibleNet Benefit and Ability to Pay(Chapters 550 and 144) (PDF) 2007-12-26 BFI & CCP Active
114 Changes to the Bureau of Financial Institutions Regulation 44 and Bureau of Consumer Credit Protection Chapter 550, “Mortgage Lending: Guidelines for Determining Reasonable, Tangible Net Benefit and Ability to Pay” and the “tangible net benefit” form as the result of recent amendments to the Act to Protect Maine Homeowners from Predatory Lending (PDF) 2008-01-17 BFI & CCP Active
115 Treatment of Construction to Permanent Loans (PDF) 2008-04-25 BFI & CCP Active
116 "Convenience" HELOC's (PDF) 2008-06-17 BFI & CCP Active
117 The Conforming Law and its effect on previous Joint Advisory Rulings and the Tangible Net Benefit and Ability to Pay Rule (PDF) 2009-07-28 BFI & CCP Active
118 Closed-end credit disclosures: Compliance guidance in light of the Federal Reserve's Interim TIL Rule published September 24, 2010 (75. Reg. 58470). (PDF) 2011-01-06 BFI & CCP Active
119 Merchants Discounts Do Not Violate Surcharge Prohibitions (PDF) 2011-07-12 BFI & CCP Active
119-A Merchants Discounts Do Not Violate Surcharge Prohibitions Revised (PDF)


2011-07-12 BFI & CCP Active