United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 9-B, § 823: Services for members, 1975

A credit union may provide several member services, including selling or issuing negotiable instruments, operating safe deposit facilities, receiving property for safekeeping, and offering financial counseling;…

financial counselingmember servicesnegotiable instrumentssafe deposit boxessafekeepingtrustee powers

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01

Purpose and legislative effect

“A credit union may provide several member services, including selling or issuing negotiable instruments, operating safe deposit facilities, receiving property for safekeeping, and offering financial counseling; it also has power to act as trustee for a member’s retirement plan subject to section 442.”

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02

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  1. 01

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    Enacted 1975 · 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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03

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Services for members

A credit union may provide several member services, including selling or issuing negotiable instruments, operating safe deposit facilities, receiving property for safekeeping, and offering financial counseling; it also has power to act…

Section 823

04

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Source record from legislature.maine.gov · Enacted 1975 · Source version 1 Oct 2025

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Provision
§ 823Services for membersProvision

A credit union may provide several member services, including selling or issuing negotiable instruments, operating safe deposit facilities, receiving property for safekeeping, and offering financial counseling; it also has power to act as trustee for a member’s retirement plan subject to section 442.

1. Sale of negotiable instruments. A credit union may engage directly in the business of selling, issuing or registering negotiable instruments to its members. [PL 2023, c. 539, §1 (AMD).] 2. Safe deposit boxes. A credit union may own and maintain safe deposit vaults, with boxes, safes and other facilities therein, for the use of its members and for the safekeeping or storage of personal property susceptible of being deposited therein, subject to the general laws and regulations applicable to safe deposit boxes. [PL 1975, c. 500, §1 (NEW).] 3. Safekeeping. A credit union may receive on deposit from its members property for safekeeping. [PL 1975, c. 500, §1 (NEW).] 4. Financial counseling. A credit union may render, or participate in the rendering of, financial counseling services, including budget planning, debt management and related services, to its members. [PL 1975, c. 500, §1 (NEW).] 5. Trustee, self-employment retirement plans. A credit union shall have the power to act as trustee for a member under a retirement plan subject to the conditions and limitations set forth in section 442. [PL 1985, c. 588, §3 (AMD).]
Section 823Verify source

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  • 1 Oct 2025 · currentEnglish

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