{"data":{"id":"us-me/9-a-m.r.s.-10-309","jurisdiction":"us-me","citation":"9-A M.R.S. §10-309","heading":"Rate locks","body":"If a loan broker collects a fee from a consumer to lock in a certain interest rate for a certain length of time, that loan broker shall:\n1.   Take steps that are necessary to actually secure or guarantee the specified rate for the appropriate length of time;\n2.   Select a time period within which the loan can reasonably be expected to close; and\n3.   Use good faith efforts to close the loan within the rate lock period.","path":["TITLE 9-A: MAINE CONSUMER CREDIT CODE","PART 3: REGULATION OF PRACTICES"],"source_url":"https://legislature.maine.gov/statutes/9-A/title9-Asec10-309.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:24Z","sha256":"e99d4cb84107356d78e21b9f2284ca828fe689e53f10105e8a6c32f473758799","source_id":"us-me","stale":false,"prev":"us-me/9-a-m.r.s.-10-308","next":"us-me/9-a-m.r.s.-10-310"},"notice":"GroundRules: Original legal text. Not legal advice."}