§311. Applicability of chapter The provisions of this chapter govern the organization and management of financial institutions operating as corporations, limited liability companies, limited partnerships and limited liability partnerships. Unless otherwise indicated in this Title, the provisions of Title 13‑C apply to financial institutions operating as corporations; Title 31, chapter 19 applies to financial institutions […]
§312-A. Expedited authority Notwithstanding any other provision of law, the superintendent may grant a certificate of public convenience and advantage for a corporation, limited liability company, limited partnership or limited liability partnership to conduct business as a financial institution effective immediately if the superintendent determines that such action is necessary for the protection of depositors […]
§312. Permission to organize 1. Incorporators. [PL 1997, c. 398, Pt. C, §3 (RP).] 2. Application. A corporation, limited liability company, limited partnership, limited liability partnership or the organizers of the entity shall apply to the superintendent to seek permission to conduct business as a financial institution. The application must contain the following information: […]
§313-A. Certificate to commence business 1. Requirements. A corporation, limited liability company, limited partnership or limited liability partnership that has received a certificate of public convenience and advantage to conduct business as a financial institution may not commence business until the superintendent certifies in writing that the required capital has actually been paid in and […]
§313. Organization (REPEALED) SECTION HISTORY PL 1975, c. 500, §1 (NEW). PL 1987, c. 81, §§7,8 (AMD). PL 1997, c. 398, §C9 (RP).
§314-A. Organizational documents 1. Financial institutions organized as corporations. The following provisions apply to financial institutions organized as corporations. A. The articles of incorporation must contain the following statement: “The purpose of this corporation is to conduct the business of a financial institution as limited by the Maine Revised Statutes, Title 9-B or […]
§314. Corporate finance (REPEALED) SECTION HISTORY PL 1975, c. 500, §1 (NEW). PL 1997, c. 398, §C11 (RP).
§315. Stockhoders (REPEALED) SECTION HISTORY PL 1975, c. 500, §1 (NEW). PL 1979, c. 663, §35 (AMD). PL 1997, c. 398, §C13 (RP).
§316-A. Governing body Except as provided in this section, the management and operations of a financial institution organized under this chapter are governed by Title 13‑C; Title 31, chapter 19; Title 31, chapter 21; or Title 31, chapter 15, as appropriate, depending upon the organizational form of the financial institution operating under this chapter. The […]
§316. Board of directors (REPEALED) SECTION HISTORY PL 1975, c. 500, §1 (NEW). PL 1979, c. 663, §36 (AMD). PL 1983, c. 63, §1 (AMD). PL 1983, c. 480, §§B9,211 (AMD). PL 1985, c. 642, §§1,2 (AMD). PL 1987, c. 81, §9 (AMD). PL 1993, c. 257, §1 (AMD). PL 1997, c. 182, §§A2,3 (AMD). […]
§317-A. Officers Except as provided in this section, the powers and duties of officers of a financial institution organized under this chapter are governed by Title 13‑C; Title 31, chapter 19; Title 31, chapter 21; or Title 31, chapter 15, as appropriate, depending upon the organizational form of the financial institution operating under this chapter. […]
§317. Officers and employees (REPEALED) SECTION HISTORY PL 1975, c. 500, §1 (NEW). PL 1979, c. 170, §1 (AMD). PL 1979, c. 429, §6 (AMD). PL 1979, c. 663, §37 (AMD). PL 1981, c. 501, §30 (AMD). PL 1993, c. 257, §2 (AMD). PL 1997, c. 398, §C16 (RP).
§318. Dividends, distributions and withdrawals 1. Limitation. A financial institution organized pursuant to this chapter may not authorize dividends, distributions or withdrawals that reduce capital below the higher of the amount required under the certificate of public convenience and advantage or section 412-A without the prior approval of the superintendent. [PL 1997, c. 398, […]
§319. Special provisions for subsidiary banks of mutual holding companies 1. Restriction. A subsidiary bank established pursuant to a reorganization under chapter 105 must be organized as a corporation. [PL 1997, c. 398, Pt. C, §17 (NEW).] 2. Board of directors. With respect to a subsidiary bank established pursuant to a reorganization under chapter […]
