Section 523 - ApplicabilityThis subchapter applies to transactions: [1999, c. 145, §1(NEW).]
1.Purposes. That are incurred primarily for personal, family or household purposes; [1999, c. 145, §1(NEW).]
2.Not open-end credit. That are not open-end credit as that term is defined in Title 9-A, section 1-301, subsection 26; [1999, c. 145, §1(NEW).]
3.Not involving multiple advances. That do not contemplate multiple advances of funds as set forth in or required by the terms of the loan documents; [1999, c. 145, §1(NEW).]
4.Location of lender or closing. When the lending office or branch from which the loan is made is located in this State or the loan closing occurs within this State; and [1999, c. 145, §1(NEW).]
5.Secured by mortgages. That are secured by mortgages on real estate containing not more than 4 residential dwelling units. [1999, c. 145, §1(NEW).]
1999, c. 145, § 1 (NEW) .