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25,400 statutes · page 1262 of 1270
United States — Maine legislation
20 statutes shown from 25,400 source-backed records
The superintendent may regulate false or deceptive advertising by certain financial institutions, and covered institutions must include a non-insurance disclaimer in advertisements for insurance products.
Certain financial institutions and credit unions may charge specified terminal-use fees, and electronic terminals must provide a transaction record at the time of the transaction.
Financial institutions and credit unions authorized to do business in this State may not tie credit, leases, sales, or services to a customer obtaining or providing other credit, property, or services, subject to listed exceptions.
Certain authorized financial institutions and credit unions are exempt from Title 5, chapter 10.
1. Definitions. For purposes of this section, unless the context otherwise indicates, the following terms have the following meanings. A. "Eligible adult" means: (1) An individual 65 years of age or older; or (2) An individual protected
Bureau rules and amendments must follow the Maine Administrative Procedure Act.
The superintendent must follow this section’s application-review rules, including completeness review, notice, public-file handling, comments, hearing procedures, and final decision timing.
The superintendent must consider the section’s criteria when reviewing certain applications, and may not approve an application unless the proposed transaction benefits the institution and the public.
This section lets 25 or more persons petition for a hearing about alleged noncompliance, lets any person petition for rulemaking, and requires hearing-petition procedures to follow the superintendent’s regulations.
An adversely affected person or organization may appeal the superintendent’s action.
This chapter governs the organization and management of specified financial institutions, and cross-references different titles and chapters depending on the entity form.
The superintendent may immediately grant a certificate allowing certain business entities to operate as a financial institution if needed to protect depositors or the public, and only in connection with transactions under section 354-A or 355-A.
1. Incorporators. [PL 1997, c. 398, Pt. C, §3 (RP).] 2. Application. A corporation, limited liability company, limited partnership, limited liability partnership or the organizers of the entity shall apply to the superintendent to seek
A covered financial institution entity may not begin business until the superintendent certifies required capital and compliance with the certificate conditions.
1. Financial institutions organized as corporations. The following provisions apply to financial institutions organized as corporations. A. The articles of incorporation must contain the following statement: "The purpose of this
This section sets governance rules for certain financial institutions, including minimum director count, executive committees, and meeting frequency.
Financial institution officers’ powers and duties are governed by specified law unless this section provides otherwise, and the institution’s documents must address those powers and duties.
A covered financial institution may not make capital-reducing dividends, distributions, or withdrawals without prior superintendent approval, and payments must generally be in cash or specified equity interests.
1. Restriction. A subsidiary bank established pursuant to a reorganization under chapter 105 must be organized as a corporation. [PL 1997, c. 398, Pt. C, §17 (NEW).] 2. Board of directors. With respect to a subsidiary bank established
This chapter applies to financial institutions organized and managed as mutual or cooperative financial institutions.
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