reglab/housing_qa huggingface dataset:
9-B ME Rev Stat § 354 (2021)
2021 Maine Revised Statutes|TITLE 9-B: FINANCIAL INSTITUTIONS|Part 3: ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS|Chapter 35: MERGERS, CONSOLIDATIONS AND ACQUISITIONS|9-B §354. Mergers and consolidations; investor-owned and mutual financial institutions

 §354. Mergers and consolidations; investor-owned and mutual financial institutions 1.  Resulting mutual financial institution.  An investor-owned financial institution may be merged into or consolidated with a mutual financial institution organized under the laws of this State in accordance with the procedures and subject to the conditions and limitations set forth in this subsection.   A. The acquiring mutual financial institution shall comply with the requirements of section 353, subsections 1 to 4, except that the plan of merger or consolidation must state the amount that institution will pay for the equity interests in the investor-owned institution to be acquired and additional information the superintendent considers appropriate.   [PL 1997, c. 398, Pt. G, §4 (AMD).]B.   [PL 1997, c. 22, §10 (RP).]C.   [PL 1997, c. 22, §10 (RP).]D.   [PL 1997, c. 22, §10 (RP).]E. The investor-owned institution to be acquired shall comply with section 352, subsections 1 to 6.   [PL 1997, c. 398, Pt. G, §4 (AMD).]F. Sections 357 and 358 apply to mergers or consolidations made pursuant to this section.   [PL 1997, c. 398, Pt. G, §4 (AMD).][PL 1997, c. 398, Pt. G, §4 (AMD).] 2.  Resulting investor-owned institution.  Except as the superintendent may authorize pursuant to section 354‑A, a mutual financial institution may not merge into an investor-owned institution organized under the laws of this State without prior compliance with section 344 and all rules adopted under that section. In accordance with section 1054, subsection 3, paragraph B, a mutual holding company may acquire a mutual financial institution or mutual federal association through merger into a subsidiary universal bank or an interim subsidiary universal bank of the mutual holding company without prior compliance with section 344 and all rules adopted under that section.   [PL 2021, c. 5, §1 (AMD).] SECTION HISTORY PL 1975, c. 500, §1 (NEW). PL 1997, c. 22, §10 (AMD). PL 1997, c. 398, §G4 (AMD). PL 2021, c. 5, §1 (AMD).
9-B ME Rev Stat § 354-A (2021)
2021 Maine Revised Statutes|TITLE 9-B: FINANCIAL INSTITUTIONS|Part 3: ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS|Chapter 35: MERGERS, CONSOLIDATIONS AND ACQUISITIONS|9-B §354-A. Authority for expedited mergers and consolidations

 §354-A. Authority for expedited mergers and consolidations Notwithstanding any other provision of law, or any organizational document of any participating institution, following approval of the plan of merger or consolidation by a majority vote of the governing body of each participating institution and receipt by the superintendent of certified copies of the authorizing resolutions adopted by the governing body of each participating institution, the superintendent may order that the merger or consolidation become effective immediately if the superintendent believes that the action is necessary for the protection of depositors or the public. Any person aggrieved by a merger or consolidation pursuant to this section is entitled to judicial review of the superintendent's order in accordance with the Maine Administrative Procedure Act, Title 5, chapter 375, subchapter VII.   [PL 1997, c. 398, Pt. G, §5 (AMD).]SECTION HISTORY PL 1981, c. 539, §2 (NEW). PL 1997, c. 398, §G5 (AMD).
9-B ME Rev Stat § 355-A (2021)
2021 Maine Revised Statutes|TITLE 9-B: FINANCIAL INSTITUTIONS|Part 3: ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS|Chapter 35: MERGERS, CONSOLIDATIONS AND ACQUISITIONS|9-B §355-A. Authority for expedited acquisitions

 §355-A. Authority for expedited acquisitions Notwithstanding any other provision of law, or any organizational document of any participating institution, the superintendent may order that the acquisition of assets and assumption of liabilities become effective immediately if the superintendent determines that the action is necessary for the protection of depositors or the public. This action may be taken upon receipt of the following:   [PL 1997, c. 398, Pt. G, §7 (AMD).]1.  Authorizing resolutions and plan.  Certified copies of the authorizing resolutions adopted by the respective governing bodies of the acquiring or assuming financial institution or financial institution holding company, and a copy of the plan of acquisition of assets and assumption of liabilities approved by a majority vote of the governing bodies of the acquiring or assuming financial institution or financial institution holding company and the transferring institution; or   [PL 1997, c. 398, Pt. G, §8 (AMD).] 2.  Notice.  Notice, containing information required by the superintendent, from any other person of intent to acquire the assets and assume the liabilities of a financial institution or financial institution holding company.   [PL 1991, c. 34, §3 (NEW).] Any person aggrieved by an acquisition of assets and assumption of liabilities pursuant to this section is entitled to judicial review of the superintendent's order in accordance with the Maine Administrative Procedure Act, Title 5, chapter 375, subchapter VII.   [PL 1991, c. 34, §3 (NEW).]SECTION HISTORY PL 1987, c. 40, §2 (NEW). PL 1991, c. 34, §3 (AMD). PL 1997, c. 398, §§G7,8 (AMD).
9-B ME Rev Stat § 356 (2021)
2021 Maine Revised Statutes|TITLE 9-B: FINANCIAL INSTITUTIONS|Part 3: ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS|Chapter 35: MERGERS, CONSOLIDATIONS AND ACQUISITIONS|9-B §356. Book value of assets (REPEALED)

 §356. Book value of assets (REPEALED)SECTION HISTORY PL 1975, c. 500, §1 (NEW). PL 1997, c. 398, §G9 (RP).
9-B ME Rev Stat § 358 (2021)
2021 Maine Revised Statutes|TITLE 9-B: FINANCIAL INSTITUTIONS|Part 3: ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS|Chapter 35: MERGERS, CONSOLIDATIONS AND ACQUISITIONS|9-B §358. Nonconforming activities: cessation

 §358. Nonconforming activities: cessation If, as a result of a merger, consolidation, conversion or acquisition pursuant to this Title, the resulting institution is to be of a different type or of a different character than any one or all of the participating or converting institutions, such resulting institution shall be subject to the following conditions and limitations:   [PL 1975, c. 500, §1 (NEW).]1.  Plan for termination.  The plan of merger, consolidation, conversion or acquisition shall set forth the method and schedule for terminating those activities not permitted by the laws of this State for the resulting institution, but which were authorized for any of the participating or converting institutions.   [PL 1975, c. 500, §1 (NEW).] 2.  Effective date.  The plan of merger, consolidation, conversion or acquisition shall state that from the effective date of such action, the resulting institution shall not engage in any nonconforming activities, except to the extent necessary to fulfill obligations existing prior to merger, consolidation, conversion or acquisition, pursuant to subsection 4.   [PL 1975, c. 500, §1 (NEW).] 3.  Compliance with limitations.  If, as a result of such merger, consolidation, conversion or acquisition, the resulting institution exceeds any lending, investment or other limitations imposed by this Title, it shall conform to such limitations within such period of time as shall be established by the superintendent.   [PL 1975, c. 500, §1 (NEW).] 4.  Divesture.  The superintendent may, as a condition to such merger, consolidation, conversion or acquisition, require a nonconforming activity to be divested in accordance with such additional requirements as he may deem appropriate under the circumstances.   [PL 1975, c. 500, §1 (NEW).] SECTION HISTORY PL 1975, c. 500, §1 (NEW).
9-B ME Rev Stat § 361 (2021)
2021 Maine Revised Statutes|TITLE 9-B: FINANCIAL INSTITUTIONS|Part 3: ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS|Chapter 36: CONSERVATION, LIQUIDATION AND INSOLVENCY|9-B §361. Applicability of chapter

 §361. Applicability of chapter Notwithstanding any other provisions of law, the provisions of this chapter apply to and supersede any other provision of law governing conservation, liquidation and insolvency of financial institutions organized under the laws of this State.   [PL 2003, c. 322, §14 (AMD).]SECTION HISTORY PL 1975, c. 500, §1 (NEW). PL 1997, c. 398, §H1 (AMD). PL 2003, c. 322, §14 (AMD).
9-B ME Rev Stat § 362 (2021)
2021 Maine Revised Statutes|TITLE 9-B: FINANCIAL INSTITUTIONS|Part 3: ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS|Chapter 36: CONSERVATION, LIQUIDATION AND INSOLVENCY|9-B §362. Payments restrained to preserve assets or protect depositors

 §362. Payments restrained to preserve assets or protect depositors 1.  Application to court.  Whenever it may become necessary to preserve the assets or protect depositors in a financial institution, the Superior Court may, on application by the superintendent, the governing body of such institution or 3/4 of its depositors, members or investors or more if required by the institution's organizational documents, after due notice, issue an order restraining the institution from paying out its funds or any portion of its funds or from declaring or paying any dividends or deposits for such time as the court considers advisable.   [PL 1997, c. 398, Pt. H, §2 (AMD).] 2.  Authority of court.  The court may at any time revoke or modify the original order and authorize the institution to pay dividends upon its deposits, or pay any portion of its deposits to such as may desire to withdraw the same or make any other or further order that may be necessary to protect the depositors or members of such institution.   [PL 1975, c. 500, §1 (NEW).] 3.  Rights of parties.  Nothing in this section shall be construed to take away the rights of the parties in interest to proceed under sections 365 or 366, subsection 1.   [PL 1975, c. 500, §1 (NEW).] SECTION HISTORY PL 1975, c. 500, §1 (NEW). PL 1997, c. 398, §H2 (AMD).
9-B ME Rev Stat § 363 (2021)
2021 Maine Revised Statutes|TITLE 9-B: FINANCIAL INSTITUTIONS|Part 3: ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS|Chapter 36: CONSERVATION, LIQUIDATION AND INSOLVENCY|9-B §363. Conservation of assets (REPEALED)

 §363. Conservation of assets (REPEALED)SECTION HISTORY PL 1975, c. 500, §1 (NEW). PL 1991, c. 34, §4 (RP).
9-B ME Rev Stat § 364 (2021)
2021 Maine Revised Statutes|TITLE 9-B: FINANCIAL INSTITUTIONS|Part 3: ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS|Chapter 36: CONSERVATION, LIQUIDATION AND INSOLVENCY|9-B §364. Voluntary liquidation

 §364. Voluntary liquidation 1.  Application to court.  Whenever, in the opinion of the superintendent and a majority of the governing body of any financial institution or in the opinion of 3/4 of its depositors, members or investors or more if required by the institution's organizational documents, it is inexpedient for any reason for the institution to continue the further prosecution of its business, the governing body may join with the superintendent in an application to the Superior Court for liquidation of the affairs of the institution, or the depositors, members or investors may file such an application with the concurrence of the superintendent.   [PL 1999, c. 218, §19 (AMD).] 2.  Injunction to restrict payments.  Upon presentation of such application, the court may issue an injunction wholly or partially restraining further payment of deposits until further order of court.   [PL 1975, c. 500, §1 (NEW).] 3.  Order to liquidate.  If, after notice and hearing on application, the court is of the opinion that it is inexpedient for the institution to continue the further prosecution of its business, it may make orders and decrees as seem proper for liquidation of the institution's affairs, distribution of its assets, protection of its depositors, members and investors, if any, and the welfare of the community.   [PL 1997, c. 398, Pt. H, §3 (AMD).] 4.  Liquidation proceedings.  Further proceedings on such application may be in the manner provided for liquidation of an insolvent financial institution, or the court may authorize the chief executive officer, president and governing body of such institution then in office to liquidate its affairs under direction of the court.   [PL 1997, c. 398, Pt. H, §3 (AMD).] 5.  Applicability of section 362.   Section 362 is made applicable to such applications.   [PL 1975, c. 500, §1 (NEW).] SECTION HISTORY PL 1975, c. 500, §1 (NEW). PL 1997, c. 398, §H3 (AMD). PL 1999, c. 218, §19 (AMD).
9-B ME Rev Stat § 366 (2021)
2021 Maine Revised Statutes|TITLE 9-B: FINANCIAL INSTITUTIONS|Part 3: ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS|Chapter 36: CONSERVATION, LIQUIDATION AND INSOLVENCY|9-B §366. Mutual institutions: insolvency; bylaws (REPEALED)

 §366. Mutual institutions: insolvency; bylaws (REPEALED)SECTION HISTORY PL 1975, c. 500, §1 (NEW). PL 1991, c. 34, §6 (RP).
9-B ME Rev Stat § 367 (2021)
2021 Maine Revised Statutes|TITLE 9-B: FINANCIAL INSTITUTIONS|Part 3: ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS|Chapter 36: CONSERVATION, LIQUIDATION AND INSOLVENCY|9-B §367. Additional authority in conservation and liquidation (REPEALED)

 §367. Additional authority in conservation and liquidation (REPEALED)SECTION HISTORY PL 1975, c. 500, §1 (NEW). PL 1975, c. 771, §111 (AMD). PL 1991, c. 34, §7 (RP).
9-B ME Rev Stat § 368 (2021)
2021 Maine Revised Statutes|TITLE 9-B: FINANCIAL INSTITUTIONS|Part 3: ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS|Chapter 36: CONSERVATION, LIQUIDATION AND INSOLVENCY|9-B §368. Additional authority in liquidation

 §368. Additional authority in liquidation 1.  Rulemaking.  The superintendent may adopt rules to carry out this chapter. Rules adopted pursuant to this section are routine technical rules as defined in Title 5, chapter 375, subchapter II-A.   [PL 1997, c. 398, Pt. H, §6 (AMD).] 2.  Expenses.  All expenses of the superintendent or the superintendent's assistants incurred in carrying out this chapter must be paid out of the assets of the financial institution in connection with which the expenses were incurred.   [PL 1991, c. 34, §8 (NEW).] SECTION HISTORY PL 1991, c. 34, §8 (NEW). PL 1997, c. 398, §H6 (AMD).
9-B ME Rev Stat § 368-A (2021)
2021 Maine Revised Statutes|TITLE 9-B: FINANCIAL INSTITUTIONS|Part 3: ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS|Chapter 36: CONSERVATION, LIQUIDATION AND INSOLVENCY|9-B §368-A. FDIC; acquisition of stock

 §368-A. FDIC; acquisition of stock The superintendent may waive the provisions of section 1013 and section 1015 when an equity interest is issued to or acquired by the FDIC in settlement of any liability, fixed or contingent, of a financial institution to the FDIC or in connection with the insolvency or liquidation of the financial institution.   [PL 1997, c. 398, Pt. H, §7 (AMD).]SECTION HISTORY PL 1993, c. 538, §3 (NEW). PL 1997, c. 398, §H7 (AMD).
9-B ME Rev Stat § 371 (2021)
2021 Maine Revised Statutes|TITLE 9-B: FINANCIAL INSTITUTIONS|Part 3: ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS|Chapter 37: INTERSTATE BRANCHING, MERGERS, CONSOLIDATIONS AND ACQUISITIONS|9-B §371. Applicability of chapter; fees

 §371. Applicability of chapter; fees 1.  Applicability.  The provisions of this chapter govern de novo establishment of interstate branches, interstate combinations and interstate branch acquisitions undertaken by a financial institution, out-of-state financial institution, federal association or national bank.   [PL 1995, c. 628, §20 (NEW).] 2.  Fees.  An application or notice required under this chapter is not complete unless accompanied by a fee payable to the Treasurer of State to be credited and used as provided in section 214. The superintendent shall establish the amount of the fee according to the requirements of section 373; the fee may not exceed $2,500.   [PL 1995, c. 628, §20 (NEW).] SECTION HISTORY PL 1995, c. 628, §20 (NEW).
9-B ME Rev Stat § 372 (2021)
2021 Maine Revised Statutes|TITLE 9-B: FINANCIAL INSTITUTIONS|Part 3: ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS|Chapter 37: INTERSTATE BRANCHING, MERGERS, CONSOLIDATIONS AND ACQUISITIONS|9-B §372. Definitions

 §372. Definitions As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings.   [PL 1995, c. 628, §20 (NEW).]1.  De novo branch.  "De novo branch" means a branch of a financial institution, out-of-state financial institution, federal association or national bank, that is originally established by the financial institution as a branch and does not become a branch of that financial institution as a result of the acquisition by the financial institution of a financial institution or the acquisition of a branch of a financial institution or through the conversion, merger or consolidation with that institution or branch.   [PL 1995, c. 628, §20 (NEW).] 2.  Interstate branch acquisition.  "Interstate branch acquisition" means the purchase of one or more branches of a financial institution, out-of-state financial institution, federal association or national bank whose home state is different from the home state of the acquiring financial institution, out-of-state financial institution, federal association or national bank and the transfer of any branches so acquired into branches of the acquiring financial institution, out-of-state financial institution, federal association or national bank.   [PL 1995, c. 628, §20 (NEW).] 3.  Interstate combination.  "Interstate combination" means the merger, acquisition or consolidation of financial institutions, out-of-state financial institutions, federal associations or national banks, that have different home states when the branches of the acquired financial institution, out-of-state financial institution, federal association, or national bank become branches of the resulting financial institution, out-of-state financial institution, federal association or national bank.   [PL 1995, c. 628, §20 (NEW).] SECTION HISTORY PL 1995, c. 628, §20 (NEW).
9-B ME Rev Stat § 374 (2021)
2021 Maine Revised Statutes|TITLE 9-B: FINANCIAL INSTITUTIONS|Part 3: ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS|Chapter 37: INTERSTATE BRANCHING, MERGERS, CONSOLIDATIONS AND ACQUISITIONS|9-B §374. Authority for expedited transactions

 §374. Authority for expedited transactions Notwithstanding any other provision of law, or any charter, certificate of organization, articles of association, articles of incorporation or bylaw of any participating institution, the superintendent may order that an interstate combination or branch acquisition pursuant to section 373, subsection 1 become effective immediately, if the superintendent determines that the action is necessary for the protection of depositors, shareholders or the public. A person aggrieved by an interstate combination or branch acquisition pursuant to this section is entitled to judicial review of the superintendent's order in accordance with Title 5, chapter 375, subchapter VII.   [PL 1995, c. 628, §20 (NEW).]SECTION HISTORY PL 1995, c. 628, §20 (NEW).
9-B ME Rev Stat § 375 (2021)
2021 Maine Revised Statutes|TITLE 9-B: FINANCIAL INSTITUTIONS|Part 3: ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS|Chapter 37: INTERSTATE BRANCHING, MERGERS, CONSOLIDATIONS AND ACQUISITIONS|9-B §375. Applicable concentration limits

 §375. Applicable concentration limits Any interstate combination or branch acquisition authorized pursuant to this chapter is subject to the deposit concentration limitations set forth in section 241, subsection 10.   [PL 1995, c. 628, §20 (NEW).]SECTION HISTORY PL 1995, c. 628, §20 (NEW).
9-B ME Rev Stat § 376 (2021)
2021 Maine Revised Statutes|TITLE 9-B: FINANCIAL INSTITUTIONS|Part 3: ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS|Chapter 37: INTERSTATE BRANCHING, MERGERS, CONSOLIDATIONS AND ACQUISITIONS|9-B §376. Activities of interstate branches

 §376. Activities of interstate branches 1.  Branches of financial institutions organized under the laws of this State.  Pursuant to this chapter, a financial institution organized under the laws of this State that establishes and operates a branch in another state may conduct any activity at that branch that is permissible for a financial institution organized under the laws of the "host state" as defined in section 131, subsection 20‑B. The financial institution shall provide prior written notice of the branch activity to the superintendent if the activity is not permissible in this State.   [PL 1995, c. 628, §20 (NEW).] 2.  Branches of out-of-state financial institutions.  The laws of this State, including, but not limited to, the laws regarding consumer protection, fair lending and establishment of intrastate branches, apply to any state branch of an out-of-state financial institution, federal association or national bank to the same extent as those laws apply to a state branch of a financial institution organized under the laws of this State. An out-of-state financial institution that maintains, or seeks to establish and maintain, a branch in this State pursuant to this chapter may not conduct any activity at that branch that is not permissible for a financial institution organized under the laws of this State.   [PL 1995, c. 628, §20 (NEW).] 3.  Commercial activity prohibited.  An out-of-state financial institution may not establish or maintain a branch in this State within 1.5 miles of any location of an affiliate where the affiliate engages in commercial activity.   [PL 2007, c. 69, §3 (NEW).] SECTION HISTORY PL 1995, c. 628, §20 (NEW). PL 2007, c. 69, §3 (AMD).
9-B ME Rev Stat § 377 (2021)
2021 Maine Revised Statutes|TITLE 9-B: FINANCIAL INSTITUTIONS|Part 3: ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS|Chapter 37: INTERSTATE BRANCHING, MERGERS, CONSOLIDATIONS AND ACQUISITIONS|9-B §377. Corporate filing requirements

 §377. Corporate filing requirements 1.  Applicability of Title 13-C.  An out-of-state financial institution, federal association or national bank with a home state other than this State that seeks to establish and operate a branch in this State as the result of an interstate combination, branch acquisition or de novo establishment pursuant to this chapter shall comply with the filing requirements for foreign corporations under Title 13-C. The approval of the filing of an out-of-state financial institution, federal association or national bank by the Secretary of State does not authorize the operation of a branch in this State by an out-of-state financial institution, federal association or national bank until the notice required pursuant to subsection 2 has been filed.   [RR 2001, c. 2, Pt. B, §13 (COR); RR 2001, c. 2, Pt. B, §58 (AFF).] 2.  Notice to the superintendent required.  An out-of-state financial institution, federal association or national bank is not authorized to do business in this State pursuant to this chapter until copies of the documents filed with the Secretary of State pursuant to Title 13-C have been received by the superintendent.   [RR 2001, c. 2, Pt. B, §13 (COR); RR 2001, c. 2, Pt. B, §58 (AFF).] SECTION HISTORY PL 1995, c. 628, §20 (NEW). RR 2001, c. 2, §B13 (COR). RR 2001, c. 2, §B58 (AFF).
9-B ME Rev Stat § 378 (2021)
2021 Maine Revised Statutes|TITLE 9-B: FINANCIAL INSTITUTIONS|Part 3: ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS|Chapter 37: INTERSTATE BRANCHING, MERGERS, CONSOLIDATIONS AND ACQUISITIONS|9-B §378. Effective date

 §378. Effective date This chapter takes effect January 1, 1997.   [PL 1995, c. 628, §20 (NEW).]SECTION HISTORY PL 1995, c. 628, §20 (NEW).