Maine § 524. - Duty of lender
Full text of Maine Maine Revised Statutes § 524. — Duty of lender, with citation guidance and answers to common questions.
§ 524.. Duty of lender
The lender shall cause, at or before loan closing, disbursement of loan funds to the settlement agent; however, in the case of any loan when a right of rescission applies and has not been exercised, the lender shall cause disbursement of loan funds to the settlement agent prior to noon of the first business day after the expiration of the rescission period required under the federal Truth-in-Lending Act, 15 United States Code, Section 1601, et seq. and the state truth-in-lending provisions, Title 9‑A, Article 8‑A, as applicable. [PL 2011, c. 427, Pt. D, §23 (AMD).]
Source: official Maine text · Last verified 2026-08-27
Frequently Asked Questions About Maine § 524.
What does Maine Revised Statutes § 524. cover?
Section 524. ("Duty of lender") 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 § 524.?
A common citation format is "Maine Revised Statutes § 524." (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 § 524. 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.