C.M.R. 95, 648, ch. 110 - PACE PROGRAM REGULATIONS: LOAN UNDERWRITING STANDARDS, CONSUMER DISCLOSURE REQUIREMENTS, TERMS AND CONDITIONS OF PARTICIPATION AND QUALITY ASSURANCE SYSTEM
- § 648-110-1 - SCOPE
- § 648-110-2 - DEFINITIONS
- § 648-110-3 - UNDERWRITING STANDARDS
- § 648-110-4 - CONSUMER DISCLOSURE REQUIREMENTS
- § 648-110-5 - TERMS AND CONDITIONS OF PARTICIPATION
- § 648-110-6 - QUALITY ASSURANCE SYSTEM
- Appendix 648-110-A
SUMMARY: The basis of this rule is to establish underwriting standards and consumer disclosure requirements for PACE (Property Assessed Clean Energy) loans and PACE agreements with owners of qualifying property who are participating in PACE programs funded by funds awarded to the State under the federal Energy Efficiency and Conservation Block Grant Program or by other funds available for this purpose, and to establish terms and conditions and a quality assurance system for PACE programs, whether administered by Efficiency Maine Trust (or its agent) or by a municipality.
Notes
This Rule, under the title "PACE PROGRAM REGULATIONS: LOAN UNDERWRITING STANDARDS, CONSUMER DISCLOSURE REQUIREMENTS, TERMS AND CONDITIONS OF PARTICIPATION AND QUALITY ASSURANCE SYSTEM" was approved by the Secretary of State on December 7, 2010 and became effective on December 7, 2010.
REPEALED AND REPLACED:
This rule, under the title ""PACE PROGRAM REGULATIONS: LOAN UNDERWRITING STANDARDS, CONSUMER DISCLOSURE REQUIREMENTS, TERMS AND CONDITIONS OF PARTICIPATION AND QUALITY ASSURANCE SYSTEM" was approved as to form and legality by the Attorney General on [10-4-11]. It was filed with the Secretary of State on [10-6-11] and became effective on [10-11-11].
STATUTORY AUTHORITY: 5 M.R.S.A. §12004-G(10-c); 35-A M.R.S.A. §10105(5); 35-A M.R.S.A. §10151, et seq.
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