{"data":{"id":"us-me/30-a-m.r.s.-3963","jurisdiction":"us-me","citation":"30-A M.R.S. §3963","heading":"Pawn transaction terms","body":"1.  Maximum finance charge established.  A pawnbroker may not directly or indirectly receive a finance charge of greater than 25% per month on that part of a loan that is $500 or less, nor more than 20% per month on that part of a loan that is more than $500, made upon property pawned.  Accrued interest may not be incorporated as interest-bearing principal.\n2.  Minimum finance charge authorized.  Notwithstanding subsection 1, a pawnbroker may contract for and receive a minimum charge of not more than $2.50.\n3.  Other charges prohibited.  A pawnbroker may not charge a fee in addition to a finance charge allowed under subsections 1 and 2.\n4.  Time period.  The initial redemption or repurchase period of a pawn transaction, not including an extension under subsection 5, may not exceed 60 days.\n5.  Extension required upon request.  A consumer is entitled to at least one extension of the pawn transaction of one month at the same rate of interest upon request in writing or in person.\n6.  Violation.  A violation of this section constitutes a violation of Title 9‑A, section 5‑201, subject to the civil remedies of the Maine Consumer Credit Code, and constitutes a violation of the Maine Unfair Trade Practices Act.\nNothing in this section prohibits a pawnbroker from charging a consumer a lower rate of interest than established by this section.","path":["TITLE 30-A: MUNICIPALITIES AND COUNTIES","PART 2: MUNICIPALITIES","CHAPTER 183: ECONOMIC REGULATION","SUBCHAPTER 6: PAWNBROKERS"],"source_url":"https://legislature.maine.gov/statutes/30-A/title30-Asec3963.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:36Z","sha256":"90044e78f7e6cabce162730ee509afa22102a0d96f7a1c0cdd728cc84128707a","source_id":"us-me","stale":false,"prev":"us-me/30-a-m.r.s.-3962","next":"us-me/30-a-m.r.s.-3964"},"notice":"GroundRules: Original legal text. Not legal advice."}