Good Funds in Maine

Overview

• Me. Rev. Stat. tit. 33, § 522 et seq.

Cross-References

• Maine

Sources

==Wet or Dry Settlement==Wet==Definition==The lender must disburse loan proceeds to the settlement agent in one or more of the following forms: (1) Cash; (2) Wired funds or electronic transfer; (3) Certified check; (4) Checks issued by a governmental entity or instrumentality; (5) Cashier’s check, teller’s check, or any transfer of funds by check or otherwise that is finally collected and unconditionally available to the settlement agent; (6) Checks or other drafts drawn by a state-chartered or federally chartered financial institution; (7) Checks or other drafts drawn by a state-chartered or federally chartered credit union; or (8) Checks issued by an insurance company licensed and regulated by the Bureau of Insurance. 33 ME Rev. Stat. 522(1).==Requirements==Must have good funds at or before closing.===Exceptions to Requirements===N/A==Cross-References==

• Maine
• Good Funds