Usury
Statutes
"Loans
The maximum legal rate of interest on a loan made by a financial institution, in the absence of an agreement in writing establishing a different rate, shall be 6 percent per year. (9-B MRS §432)
Consumer Credit Sales Other than Open-End Credit
A seller is permitted to contract for and receive a finance charge that does not exceed that permitted in 9-A MRS §2-201.
Consumer Credit Sales Pursuant to Open-End Credit
A seller is permitted to contract for and receive a finance charge that does not exceed that permitted in 9-A MRS §2-202.
Consumer Loans
With respect to a consumer loan, other than a loan pursuant to open-end credit, a lender may contract for and receive a finance charge calculated according to the actuarial method, not exceeding the specified amount. (9-A MRS §401)
Other Credit Transactions
Except where otherwise provided by law with respect to a credit transaction other than a consumer credit transaction, the parties may contract for the payment by the debtor of any finance charge. (9-A MRS §2-601)"
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The statutory information was edited and reviewed with the support of MultiState