Maine Revised Statutes, Title 9-B, § 913: Powers, 1975

In addition to the powers conferred upon corporations by the general corporations law of this State, an industrial bank shall have the power to: [PL 1975, c. 500, §1 (NEW).] 1. Borrow and lend. Borrow and to lend money, and discount notes and bills of exchange including trade acceptances; [PL 1975, c. 500, §1 (NEW).] 2. Investments. Purchase, invest in, hold and sell such notes, bonds and securities as are legal for investments in accordance with the provisions of chapter 55. [PL 1975, c. 500, §1 (NEW).] 3. FHA insured loans. Make such loans as are eligible for insurance pursuant to Title I of the National Housing Act, as amended, and to apply for and obtain insurance on said loans pursuant to said Act. [PL 1979, c. 663, §55 (AMD).] 4. Certificates of investment. Sell certificates of investment, either of fixed or of uncertain term; and [PL 1979, c. 663, §55 (AMD).] 5. Branches. Establish branch or agency offices in accordance with chapter 33; provided that the powers set forth in subsection 4 may only be exercised at branch or agency offices authorized and doing business on or before June 1, 1967. [PL 1975, c. 500, §1 (NEW).]