9-B §1019-A. Notification of superintendent; purchase of own shares
§1019-A. Notification of superintendent; purchase of own shares A Maine financial institution holding company shall provide the superintendent with prior notification regarding the following transactions: [PL 1991, c. 386, §27 (AMD).] 1. Issuance of stock, capital notes or debentures. The issuance of equity interest, capital notes or debentures with an original maturity of 3 […]
9-B §1020. Annual reports to the Legislature (REPEALED)
§1020. Annual reports to the Legislature (REPEALED) SECTION HISTORY PL 1983, c. 597, §5 (NEW). PL 1983, c. 816, §B3 (RP).
9-B §1021. Definition
§1021. Definition As used in this chapter, the term “mutual trust investment company” means a corporation which is an investment company as defined by an Act of Congress entitled “Investment Company Act of 1940”, as amended; and incorporated in compliance with this chapter to constitute a medium for the common investment of trust funds held […]
9-B §1022. Authority to incorporate
§1022. Authority to incorporate Any 5 or more state banks with trust powers, trust companies and national banks with trust powers located in this State are authorized to cause a mutual trust investment company to be organized and incorporated, subject to the approval of the superintendent and subject to such regulations as he may prescribe. […]
9-B §1023. Application of general corporation law; articles of incorporation
§1023. Application of general corporation law; articles of incorporation 1. Subject to Title 13-C. Except as otherwise provided in this chapter, such a mutual trust investment company must be incorporated under and is subject to Title 13‑C. [RR 2001, c. 2, Pt. B, §19 (COR); RR 2001, c. 2, Pt. B, §58 (AFF).] 2. […]
9-B §1024. Corporate powers; stock ownership
§1024. Corporate powers; stock ownership 1. Ownership. The stock of a mutual trust investment company shall be owned only by State banks with trust powers, trust companies and national banks with trust powers located in this State, acting as fiduciaries, and their individual cofiduciaries, if any, but may be registered in the name of their […]
9-B §1011. Definitions
§1011. Definitions As used in this chapter, unless the context indicates otherwise, the following terms have the following meanings. [PL 1977, c. 663, §57 (RPR).] 1. Financial institution holding company. “Financial institution holding company” means any company which has control over any financial institution or has control over any company which controls any financial […]
9-B §1012. Registration
§1012. Registration 1. Requirements. Any company that controls one or more Maine financial institutions shall register with the superintendent in accordance with procedures established by him. [PL 1975, c. 500, §1 (NEW).] 2. Time limitation. Unless the superintendent allows an additional time, registration must be completed within 180 days after October 1, 1975, or […]
9-B §1013. Acquisition of interests in financial institutions
§1013. Acquisition of interests in financial institutions 1. Superintendent’s approval. The prior approval of the superintendent is required for any of the following transactions: A. Acquisition of control of a Maine financial institution or any financial institution or financial institution holding company controlling, directly or indirectly, a Maine financial institution, by any person or […]
9-B §1014. Closely-related activities
§1014. Closely-related activities 1. Permissible activities. A Maine financial institution holding company may engage in any closely related activity or any other activity with the prior permission of the superintendent. [PL 1997, c. 398, Pt. K, §9 (AMD).] 2. Termination of nonpermissible activities. A financial institution holding company that is engaged in an activity […]