United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 9-B, § 881: Prohibited practices, 1975

Credit unions and their directors/officers are subject to chapter 46 restrictions, but the superintendent may allow one credit union officer or director to serve in another credit union if there is an application and…

director/officer restrictionsinternal governance

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Official source

01

Purpose and legislative effect

“Credit unions and their directors/officers are subject to chapter 46 restrictions, but the superintendent may allow one credit union officer or director to serve in another credit union if there is an application and good cause.”

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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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Prohibited practices

Credit unions and their directors/officers are subject to chapter 46 restrictions, but the superintendent may allow one credit union officer or director to serve in another credit union if there is an application and good cause.

Section 881

04

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

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Provision
§ 881Prohibited practicesProvision

Credit unions and their directors/officers are subject to chapter 46 restrictions, but the superintendent may allow one credit union officer or director to serve in another credit union if there is an application and good cause.

All credit unions organized pursuant to or subject to the laws of this State, and the directors and officers of such credit unions, shall be subject to the prohibitions and restrictions provided for in chapter 46, except that the superintendent may, upon application and for good cause shown, permit an officer or director of one credit union to hold office in another credit union. [PL 1975, c. 500, §1 (NEW).]
Section 881Verify source

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  • 1 Oct 2025 · currentEnglish

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