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CU System
Maine league opposes bill attacking first liens
PORTLAND, Maine (5/23/11)--The Maine Credit Union League is opposing a third bill in state legislature that seeks to give certain assessments or liens priority over first mortgage liens. The league issued a statewide call to action against the latest bill, L.D. 1332, which would amend the Maine Condominium Act to allow a six-month condo assessment lien to take priority over first-mortgage liens (Weekly Update May 20). Earlier in the month the state's Judiciary Committee voted 9-4 to pass the bill, but the "league is working hard to get the necessary votes to defeat the bill when it is debated on the House floor," likely within the next week or so, said the league. It is asking credit unions in the state to "communicate their opposition to this bill," said League President John Murphy in the newsletter. The other bills, dealing with P.A.C.E. and with child support, were defeated earlier. The league said its position "remains that nothing and no one should take priority over the first lien holders."


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