United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 11, § 2-1102: Scope, 1991

This section says the Article applies to any transaction that creates a lease, and it gives special rules for hybrid leases.

hybrid leasesleasestransaction scope

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“This section says the Article applies to any transaction that creates a lease, and it gives special rules for hybrid leases.”

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    Enacted 1991 · Source version 1 Oct 2025. The date shown identifies this source expression and should not be treated as proof that no later change exists.

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Scope

This section says the Article applies to any transaction that creates a lease, and it gives special rules for hybrid leases.

Section 2-1102

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Source record from legislature.maine.gov · Enacted 1991 · Source version 1 Oct 2025

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part 1 GENERAL PROVISIONS

§ 2-1102ScopeProvision

This section says the Article applies to any transaction that creates a lease, and it gives special rules for hybrid leases.

(1). This Article applies to any transaction, regardless of form, that creates a lease and, in the case of a hybrid lease, it applies to the extent provided in subsection (2). [PL 2023, c. 669, Pt. A, §22 (NEW); PL 2025, c. 390, Pt. A, §61 (AFF).] (2). In a hybrid lease: (a). If the aspects of the lease that relate to the lease of goods do not predominate: (i) Only the provisions of this Article that relate primarily to those aspects of the transaction apply and the provisions that relate primarily to the transaction as a whole do not apply; (ii) Section 2‑1209 applies if the lease is a finance lease; and (iii) Section 2‑1407 applies to the promises of the lessee in a finance lease to the extent the promises are consideration for the right to possession and use of the leased goods; and [PL 2023, c. 699, Pt. A, §22 (NEW); PL 2025, c. 390, Pt. A, §61 (AFF).] (b). If the aspects of the lease that relate to the lease of goods predominate, this Article applies to the transaction but does not preclude application in appropriate circumstances of other law to aspects of the lease that do not relate to the lease of goods. [PL 2023, c. 669, Pt. A, §22 (NEW); PL 2025, c. 390, Pt. A, §61 (AFF).] [PL 2023, c. 669, Pt. A, §22 (NEW); PL 2025, c. 390, Pt. A, §61 (AFF).]
Section 2-1102Verify source

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