{"data":{"id":"us-me/9-a-m.r.s.-1-102","jurisdiction":"us-me","citation":"9-A M.R.S. §1-102","heading":"Purposes; rules of construction","body":"1.   This Act shall be liberally construed and applied to promote its underlying purposes and policies.\n2.   The underlying purposes and policies of this Act are:\nA.  To simplify, clarify and modernize the law governing retail installment sales, consumer credit, small loans and usury;\nB.  To provide rate ceilings to assure an adequate supply of credit to consumers;\nC.  To further consumer understanding of the terms of credit transactions and to foster competition among suppliers of consumer credit so that consumers may obtain credit at reasonable cost;\nD.  To protect consumer buyers, lessees, and borrowers against unfair practices by some suppliers of consumer credit, having due regard for the interests of legitimate and scrupulous creditors;\nE.  To permit and encourage the development of fair and economically sound consumer credit practices; and\nF.  To conform the regulation of consumer credit transactions to the policies of the Federal Truth in Lending Act.\n3.   A reference to a requirement imposed by this Act includes reference to a related rule of the administrator adopted pursuant to this Act.","path":["TITLE 9-A: MAINE CONSUMER CREDIT CODE","PART 1: GENERAL PROVISIONS"],"source_url":"https://legislature.maine.gov/statutes/9-A/title9-Asec1-102.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:24Z","sha256":"e9fef5d78adb4162186c8782ed47287126c19e3c99233e1687476aaca26a5db6","source_id":"us-me","stale":false,"prev":"us-me/9-a-m.r.s.-1-101","next":"us-me/9-a-m.r.s.-1-103"},"notice":"GroundRules: Original legal text. Not legal advice."}