Maine § 1511. - Loan Insurance Reserve
Full text of Maine Maine Revised Statutes § 1511. — Loan Insurance Reserve, with citation guidance and answers to common questions.
§ 1511.. Loan Insurance Reserve
The State Controller may, at the close of each fiscal year, as the next priority after the transfers authorized pursuant to section 1507, transfer from the unappropriated surplus of the General Fund to the Loan Insurance Reserve amounts as may be available from time to time, up to an amount of $1,000,000 per year after the transfers have been made pursuant to section 1507. The balance of this reserve must be paid to the Finance Authority of Maine if such payment does not cause the balance in the reserve fund maintained by the authority, when added to amounts held in the Finance Authority of Maine Mortgage Insurance Fund that are not committed or encumbered for another purpose, to exceed $65,000,000. Any balance in the Loan Insurance Reserve is appropriated for this purpose. [PL 2025, c. 475, §1 (AMD).]
Source: official Maine text · Last verified 2026-08-27
Frequently Asked Questions About Maine § 1511.
What does Maine Revised Statutes § 1511. cover?
Section 1511. ("Loan Insurance Reserve") is part of the Maine Revised Statutes, the codified statutory law of Maine. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maine § 1511.?
A common citation format is "Maine Revised Statutes § 1511." (Maine). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maine law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maine official source linked on this page or consult a licensed Maine attorney.
How does Maine § 1511. apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maine can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maine.