Go Syfert

Maine Revised Statutes

Me. Rev. Stat. tit. 9-A, § 2-301 (2026)

Authority to make or service supervised loans

✓ current as of May 2026

Find cases: SyfertCases citing this section ME-LEGlegislature.maine.gov JustiaTitle on Justia CornellLII Search CasesGoogle Scholar

Unless a person is a supervised financial organization, a financial institution holding company as defined in Title 9‑B, section 1011, subsection 1 or a mutual holding company as defined in Title 9‑B, section 1052, subsection 2 or has first obtained a license pursuant to this Act from the administrator authorizing the person to make or service supervised loans, the person may not engage in the business of: [PL 2017, c. 106, §4 (AMD).]

1. Making supervised loans;

[PL 2017, c. 106, §4 (AMD).]

2. Taking assignments of and undertaking direct collection of payments from or enforcement of rights against debtors arising from supervised loans; or

[PL 2021, c. 245, Pt. A, §3 (AMD).]

3. Servicing mortgage loans.

[PL 2017, c. 106, §4 (NEW).]

SECTION HISTORY

PL 1973, c. 762, §1 (NEW). PL 1975, c. 179, §1 (AMD). PL 1983, c. 212, §§3,4 (AMD). PL 1985, c. 763, §A24 (AMD). PL 1987, c. 129, §33 (AMD). PL 2017, c. 106, §4 (AMD). PL 2021, c. 245, Pt. A, §3 (AMD).

Notes of Decisions

Cited in 3 cases (1 in the last 5 years), 1997–2026 · leading case: St. Jean v. Racal Mortg., 952 F. Supp. 22 (D. Me. 1997).

Sort: Relevance Newest Treatment

St. Jean v. Racal Mortg., 952 F. Supp. 22 (D. Me. 1997). · cites it 2× “9-A M.R.S.A. § 2-301 provides, in part: Unless a person is a supervised financial organization or has first obtained a license pursuant to this Act from the administrator authorizing him to make supervised loans, he shall not engage in the business of: 1.”

Reagan v. Racal Mortg., Inc., 1998 ME 188 (Me. 1998). “Pursuant to the Maine Consumer Credit Code, only supervised financial organizations or licensed lenders may engage in the business of making supervised loans, 9-A M.R.S.A. § 2-301 (1997), and the loans made by Racal to the debtors were “supervised loans” as defined by the Code.”

Estrella (D. Me. 2026). · cites it 3× “Estrella’s claim for unlicensed mortgage lending in violation of 9-A M.R.S. § 2-301. Regarding the SAFE Act, the statute vests enforcement authority in the Consumer Financial Protection Bureau; there is no private cause of action for individual litigants.”

— Me. Rev. Stat. tit. 9-A, § 2-301(1) — 1 case

St. Jean v. Racal Mortg., 952 F. Supp. 22 (D. Me. 1997). “9-A M.R.S.A. § 2-301 provides, in part: Unless a person is a supervised financial organization or has first obtained a license pursuant to this Act from the administrator authorizing him to make supervised loans, he shall not engage in the business of: 1.”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.