Maine Revised Statutes, Title 9-B, § 368: Additional authority in liquidation
The superintendent may adopt rules to carry out this chapter.
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Maine Revised Statutes, Title 9-B, § 369: Judicial review
This section lets certain affected parties challenge a receiver appointment or superintendent/receiver actions in the Superior Court of Kennebec County, but it sets short filing deadlines and limits review standards.
- Court challenge
- Injunctions
- Procedure deadlines
- Receivership
Maine Revised Statutes, Title 9-B, § 371: Applicability of chapter; fees
1. Applicability. The provisions of this chapter govern de novo establishment of interstate branches, interstate combinations and interstate branch acquisitions undertaken by a financial institution, out-of-state financial institution,
- Application fees
- Branch acquisitions
- Branch establishment
Maine Revised Statutes, Title 9-B, § 372: Definitions
This section defines three banking terms: de novo branch, interstate branch acquisition, and interstate combination.
- Financial institution branches
- Interstate transactions
- Merger and acquisition
Maine Revised Statutes, Title 9-B, § 373: Interstate combinations, branch acquisitions and de novo establishments
Interstate combinations and certain branch transactions are authorized, but the resulting institution must comply with notice or approval requirements and, in some cases, the superintendent may object or seek court action.
- Branch acquisition
- De novo establishment
- Interstate combination
- Regulatory approval
- Regulatory notice
Maine Revised Statutes, Title 9-B, § 374: Authority for expedited transactions
The superintendent may make certain interstate combinations or branch acquisitions effective immediately if needed to protect depositors, shareholders, or the public. A person aggrieved by such an action may seek judicial review.
- Branch acquisition
- Expedited transactions
- Interstate combination
Maine Revised Statutes, Title 9-B, § 375: Applicable concentration limits
Authorized interstate combinations or branch acquisitions must comply with deposit concentration limits in section 241, subsection 10.
Maine Revised Statutes, Title 9-B, § 376: Activities of interstate branches
1. Branches of financial institutions organized under the laws of this State. Pursuant to this chapter, a financial institution organized under the laws of this State that establishes and operates a branch in another state may conduct any
- Branch operations
- Consumer protection
- Fair lending
- Interstate branching
Maine Revised Statutes, Title 9-B, § 377: Corporate filing requirements
Certain out-of-state financial institutions, federal associations, and national banks must meet Title 13-C filing requirements before establishing or operating a branch in the State.
- Branch establishment
- Filing requirements
- Foreign corporations
- Notice to superintendent
Maine Revised Statutes, Title 9-B, § 378: Effective date
This chapter takes effect on January 1, 1997.
Maine Revised Statutes, Title 9-B, § 411: Applicability of chapter
This chapter grants powers to financial institutions organized under chapters 31 and 32, and makes covered institutions subject to this Title’s duties, restrictions, and liabilities even if their charter says otherwise.
- Charter powers
- Financial institutions
- Statutory conformity
Maine Revised Statutes, Title 9-B, § 412-A: Capital
Financial institutions must maintain adequate capital under superintendent rules, and capital issuances need superintendent approval at least 10 days before issuance.
- Capital adequacy
- Regulatory approval
Maine Revised Statutes, Title 9-B, § 412: General corporate powers
A financial institution organized under chapter 31 or 32 has a list of corporate powers, including perpetual existence, suing and being sued, adopting a seal, managing staff, making bylaws, ending activities, making certain donations, creating benefit plans, indemnifying covered persons, and joining certain financial o
- Corporate powers
- Governance
- Membership
Maine Revised Statutes, Title 9-B, § 413: Borrowing
A financial institution may borrow money, issue notes and bonds, and secure its obligations with property encumbrances.
- Borrowing
- Debt issuance
- Security interests
Maine Revised Statutes, Title 9-B, § 415: Participation in public agencies
A financial institution may participate in certain public agencies if the superintendent authorizes it under regulations, and it must follow all imposed requirements and conditions.
- Financial institution participation
- Public agencies
Maine Revised Statutes, Title 9-B, § 416: Powers of federally chartered institutions
A financial institution may engage in activities that federally chartered or federally regulated institutions may be authorized to do. The superintendent may adopt rules to make those powers safe, sound, and consumer-protective.
- Consumer protection
- Federal charter powers
- Rulemaking
- State law preemption
Maine Revised Statutes, Title 9-B, § 417: Equity interest in Maine financial institutions
A financial institution in Maine may buy more than 5% of another eligible financial institution’s equity only with the superintendent’s prior approval.
Maine Revised Statutes, Title 9-B, § 418: Acting as agent
A financial institution may act as an agent for certain institutions under this section, but the agency agreement must limit activities, notice must be filed with the superintendent before the activity begins, and the superintendent may adopt supplemental rules.
- Agency relationships
- Deposits
- Loan servicing
- Rulemaking
- Supervisory notice
Maine Revised Statutes, Title 9-B, § 419-A: Property ownership
A financial institution may acquire, hold, improve, develop, lease, contract, convey, and otherwise control property acquired under this section, including by mortgage foreclosure, purchase, or other means.
- Asset acquisition
- Foreclosure
- Leasing
- Property management
Maine Revised Statutes, Title 9-B, § 419: Investment powers
A financial institution may buy, sell, underwrite, and hold investment and equity securities, but must limit equity holdings to 100% of total capital unless the superintendent allows more. It may not buy speculative securities or equities, except for venture capital investments up to 20% of total capital unless the sup
- Corporate governance
- Investments
- Securities
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