Source: http://legislature.maine.gov/statutes/9-B/title9-Bsec312.html
Timestamp: 2020-02-29 08:02:56
Document Index: 736335990

Matched Legal Cases: ['§3', '§4', '§4', '§4', '§4', '§4', '§4', '§4', '§4', '§5', '§4', '§6', '§6', '§6', '§7', '§7', '§7', '§5', '§5', '§6', '§1', '§33', '§1', '§5']

[PL 1997, c. 398, Pt. C, §3 (RP).]
A. The name by which the financial institution is to be known; [PL 1997, c. 398, Pt. C, §4 (RPR).]
B. The purpose for which it is to be formed, including whether a certificate of public convenience and advantage is sought to conduct business as a universal bank, a nondepository trust company, a merchant bank or an uninsured bank; [PL 1997, c. 398, Pt. C, §4 (RPR).]
C. The city or town within this State where the institution's principal office is to be located; [PL 1997, c. 398, Pt. C, §4 (RPR).]
D. The amount of its capital; [PL 1997, c. 398, Pt. C, §4 (RPR).]
E. The names, addresses and occupations of the governing body or organizers of the institution; [PL 1997, c. 398, Pt. C, §4 (RPR).]
F. The organizational documents appropriate to the proposed institution's organizational structure; and [PL 1997, c. 398, Pt. C, §4 (RPR).]
G. Any additional information, including the reasons why an institution of the type specified in paragraph B is needed in the proposed location, as the superintendent may require by rule. Application for permission to conduct business as a financial institution may not be considered complete unless accompanied by an application fee as determined by the superintendent, payable to the Treasurer of State, to be credited and used as provided in section 214. In no event may that fee be less than $1,000 or greater than $5,000. [PL 1997, c. 398, Pt. C, §4 (RPR).]
[PL 1997, c. 398, Pt. C, §4 (RPR).]
[PL 1997, c. 398, Pt. C, §5 (AMD).]
A. [PL 1987, c. 81, §4 (RP).]
B. In determining whether or not a certificate of public convenience and advantage that permits the corporation, limited liability company, limited partnership or limited liability partnership to conduct business as a financial institution should be granted, the superintendent shall make the decision in accordance with the requirements of section 253, pursuant to the procedures set forth in section 252. [PL 1997, c. 398, Pt. C, §6 (AMD).]
C. A grant of a certificate of public convenience and advantage may include such terms and conditions as the superintendent determines necessary. These may include, but are not limited to, conditions regarding the organizational form of the financial institution under this chapter. [PL 1997, c. 398, Pt. C, §6 (AMD).]
[PL 1997, c. 398, Pt. C, §6 (AMD).]
A. The certificate of public convenience and advantage and the superintendent's order granting permission to organize must set forth the minimum amount of paid-in capital that a financial institution must have to begin business. [PL 1997, c. 398, Pt. C, §7 (AMD).]
B. The minimum amount of paid-in capital must be determined by the superintendent, but in no event may it be less than $100,000. [PL 1997, c. 398, Pt. C, §7 (AMD).]
C. In determining the minimum paid-in capital required, the superintendent may set different requirements for banks, nondepository trust companies, merchant banks and uninsured institutions and may consider such factors as the population of the city or town where the proposed institution is to be located, competition among financial institutions in that locale, the projected volume and type of business to be conducted, the inherent risks in the business to be conducted and the need to protect depositors and other creditors of the institution. [PL 1997, c. 398, Pt. C, §7 (AMD).]
D. All initial and subsequent capital contributions must be in the form of cash, unless otherwise approved by the superintendent. [PL 2005, c. 82, §5 (AMD).]
[PL 2005, c. 82, §5 (AMD).]
[PL 1987, c. 81, §6 (AMD).]
PL 1975, c. 500, §1 (NEW). PL 1979, c. 663, §§33,34 (AMD). PL 1987, c. 81, §§1-6 (AMD). PL 1997, c. 398, §§C3-7 (AMD). PL 2005, c. 82, §5 (AMD).