9-B ME Rev Stat § 131 (2021)
2021 Maine Revised Statutes|TITLE 9-B: FINANCIAL INSTITUTIONS|Part 1: GENERAL PROVISIONS|Chapter 13: DEFINITIONS|9-B §131. Definitions

 §131. Definitions In addition to the definitions set forth elsewhere in this Title, and subject to such definitions as the superintendent may promulgate pursuant to regulations hereafter, for purposes of this Title, the following terms have the following meanings.   [PL 1979, c. 663, §27 (AMD).]1.  Agency.  "Agency" means a branch office of a financial institution at which all or part of the business of the institution is conducted, but the records pertaining to such business are maintained at another office of the institution, and not at such agency office.   [PL 1975, c. 666, §1 (AMD).] 1-A.  Affiliate.  "Affiliate" means any company that controls, is controlled by, or is under common control with another company. For purposes of this definition, "control" has the same meaning as in section 1011, subsection 4.   [PL 1995, c. 628, §1 (NEW).] 2.  Authorized to do business in this State.  "Authorized to do business in this State" means that a financial institution or credit union is authorized to do the business of banking, if it is:   A. Organized under provisions of this Title;   [PL 1975, c. 500, §1 (NEW).]B. Organized under provisions of prior laws of this State and subject to the provisions of this Title;   [PL 1995, c. 628, §2 (AMD).]C. Organized under provisions of federal law and maintains this State as its home state;   [PL 1995, c. 628, §2 (AMD).]D. Organized under provisions of federal law or laws of another state and maintains a branch in this State; or   [PL 1995, c. 628, §2 (NEW).]E. Organized under provisions of law of a foreign country and maintains a branch in this State.   [PL 1995, c. 628, §2 (NEW).][PL 1995, c. 628, §2 (AMD).] 3.  Branch.  "Branch" means any office of a financial institution, including a credit union, where the business of banking is conducted other than the institution's main office. A branch includes an office or vehicle that is not permanent and that is capable of being moved or transferred from one location to another.   [PL 2003, c. 322, §1 (AMD).] 4.  Bureau.  "Bureau" means the Bureau of Financial Institutions.   [PL 2001, c. 44, §4 (AMD); PL 2001, c. 44, §14 (AFF).] 5.  Business of banking.  "Business of banking" or "business of financial institutions" means soliciting, receiving or accepting of money or its equivalent on deposit and the loaning of money as a regular business by any person.   [PL 1975, c. 500, §1 (NEW).] 6.  Capital.  "Capital" for a financial institution means the following:   A. For financial institutions organized as corporations, "capital" means the sum of common stock, paid-in common stock surplus, perpetual preferred stock, undivided profits and other capital reserves;   [PL 1997, c. 398, Pt. A, §2 (NEW).]B. For financial institutions organized as limited liability companies, limited partnerships or limited liability partnerships, "capital" means the sum of members' or partners' contributions and undistributed earnings of the company or partnership; and   [PL 1997, c. 398, Pt. A, §2 (NEW).]C. For financial institutions organized as mutual or cooperative institutions, "capital" means the sum of capital deposits, surplus and undivided earnings.   [PL 1997, c. 398, Pt. A, §2 (NEW).][PL 1997, c. 398, Pt. A, §2 (AMD).] 6-A.  Closely related activities.  "Closely related activities" means those activities that are part of the business of banking, are closely related to the business of banking, are convenient and useful to the business of banking, are reasonably related to the operation of a financial institution or are financial in nature. Activities reasonably related to the operation of a financial institution include, but are not limited to, business and professional services, data processing, courier and messenger services, credit-related activities, consumer services, real estate-related services, insurance and related services, securities brokerage, investment advice, securities underwriting, mutual fund activities, financial consulting, tax planning and preparation, community development and charitable activities and any activities reasonably related to these activities. Any activity that is authorized by statute or regulation for financial institutions to engage in as of June 30, 1997 is a closely related activity and any activity permitted under the Bank Holding Company Act of 1956, 12 United States Code, Sections 1841 to 1850 (1997) or the Home Owners' Loan Act, 12 United States Code, Sections 1461 to 1470 (1997) or regulations promulgated under either Act is deemed to be a closely related activity. The list of closely related activities may be expanded by rule or by order of the superintendent.   [PL 1997, c. 398, Pt. A, §3 (NEW).] 6-B.  Commercial activity.  “Commercial activity” means any activity in which a bank holding company, a financial holding company, a national bank or a national bank financial subsidiary may not engage under federal law.   [PL 2007, c. 69, §1 (NEW).] 7.  Commercial bank.  "Commercial bank" means a trust and banking company organized under prior laws of this State or the laws of another country or state or a national bank.   [PL 1997, c. 398, Pt. A, §4 (AMD).] 8.  Commercial loan.  "Commercial loan" means a loan to a person, regardless of the nature of any property securing such loan, the proceeds of which are used for business or industrial purposes and not primarily for personal, family or household purposes.   [PL 1975, c. 500, §1 (NEW).] 9.  Commissioner.  "Commissioner" means the Commissioner of the Department of Professional and Financial Regulation.   [RR 1993, c. 1, §24 (COR).] 9-A.  Community development credit union.  "Community development credit union" means a credit union, as defined in subsection 12, of which a majority of the field of membership meets the definition of low-income in subsection 24-A.   [PL 1997, c. 108, §1 (NEW).] 10.  Consumer loan.  "Consumer loan" means a loan defined as such pursuant to Title 9‑A, section 1‑301, subsection 14.   [PL 1975, c. 500, §1 (NEW).] 10-A.  Cooperative financial institution.  "Cooperative financial institution" means any financial institution organized pursuant to chapter 32 in which the earnings and net worth of the institution inure to the ultimate benefit of the members.   [PL 1997, c. 398, Pt. A, §5 (NEW).] 11.  Credit card.  "Credit card" means a credit device by which a cardholder obtains loans or otherwise obtains credit from the card issuer or other persons authorized to extend such credit by the card issuer or his agent.   [PL 1975, c. 500, §1 (NEW).] 12.  Credit union.  "Credit union" means a cooperative, nonprofit corporation organized pursuant to Part 8, or under corresponding provisions of any earlier law, and subject to the conditions and limitations as shall be set forth in Part 8.   [PL 1975, c. 500, §1 (NEW).] 12-A.  Credit union authorized to do business in this State.  "Credit union authorized to do business in this State" means a credit union:   A. Organized under provisions of this Title;   [PL 1975, c. 666, §2 (NEW).]B. Organized under provisions of prior laws of this State and subject to the provisions of this Title;   [PL 1995, c. 628, §3 (AMD).]C. Organized under provisions of federal law and maintains this State as its home state;   [PL 1995, c. 628, §3 (AMD).]D. Organized under provisions of federal law or laws of another state and maintains a branch in this State; or   [PL 1995, c. 628, §4 (NEW).]E. Organized under provisions of law of a foreign country and maintains a branch in this State.   [PL 1995, c. 628, §4 (NEW).][PL 1995, c. 628, §§3, 4 (AMD).] 12-B.  Deposit production offices.  "Deposit production offices" means the Maine offices operated by an individual financial institution authorized to do business in this State or individual credit union authorized to do business in this State that do not reasonably help meet the credit needs of Maine communities. For purposes of this subsection, "deposits" includes credit union share accounts.   [PL 2005, c. 83, §1 (RPR).] 13.  Director.  "Director" means a member of the governing body of a financial institution.   [PL 1997, c. 398, Pt. A, §6 (AMD).] 14.  Electronic funds transfer system.  "Electronic funds transfer system" (EFTS) means a computer payment system for transferring funds from one party to another.   [PL 1975, c. 500, §1 (NEW).] 14-A.  Equity interest.  "Equity interest" means common stock, preferred stock, members' or partners' interests or any other type of capital instrument that entitles the holder to vote pursuant to the financial institution's organizational documents.   [PL 1997, c. 398, Pt. A, §7 (NEW).] 15.  Federal association.  "Federal association" means a savings and loan association, savings bank or other financial institution organized pursuant to the Act of Congress entitled "Home Owners' Loan Act of 1933", as amended, or any subsequent Act of Congress relating thereto.   [PL 1983, c. 600, §1 (AMD).] 15-A.  FDIC.  "FDIC" means the Federal Deposit Insurance Corporation or its successors.   [PL 1997, c. 398, Pt. A, §7 (NEW).] 16.  Federally-chartered credit union.  "Federally-chartered credit union" means a credit union organized pursuant to the Act of Congress entitled "Federal Credit Union Act", as amended, or any subsequent Act of Congress relating thereto.   [PL 1975, c. 500, §1 (NEW).] 17.  Financial institution.  "Financial institution" means a universal bank or limited purpose bank organized under the provisions of this Title, and a trust company, nondepository trust company, savings bank, industrial bank or savings and loan association organized under the prior laws of this State. When the term "financial institution" is used in Parts 1 and 2 and sections 422-A, 427, 428, 429 and chapter 46, the term also includes a credit union organized pursuant to the laws of this State.   [PL 2003, c. 322, §2 (AMD).] 17-A.  Financial institution authorized to do business in this State.  "Financial institution authorized to do business in this State" means a:   A. Universal bank or limited purpose bank organized under provisions of this Title;   [PL 1997, c. 398, Pt. A, §9 (AMD).]B. Trust company, savings bank, savings and loan association or industrial bank organized under provisions of prior laws of this State and subject to the provisions of this Title;   [PL 1997, c. 398, Pt. A, §9 (AMD).]C. National bank, federal association or similar institution that is organized under provisions of federal law and maintains this State as its home state;   [PL 1997, c. 398, Pt. A, §9 (AMD).]D. Commercial bank, savings bank, savings and loan association or similar institution that is organized under provisions of federal law or laws of another state and maintains a branch in this State; or   [PL 1997, c. 398, Pt. A, §9 (AMD).]E. Commercial bank, savings bank, savings and loan association or similar institution that is organized under provisions of law of a foreign country and maintains a branch in this State.   [PL 1997, c. 398, Pt. A, §9 (AMD).][PL 1997, c. 398, Pt. A, §9 (AMD).] 18.  Financial institution holding company.  "Financial institution holding company" means any company which is deemed to be a holding company pursuant to the provisions contained in chapter 101.   [PL 1975, c. 500, §1 (NEW).] 18-A.  Financial institutions not authorized to do business in this State.  "Financial institutions not authorized to do business in this State" means any person engaged in the business of banking that does not satisfy the definition of "authorized to do business in this State" found in subsection 2.   [PL 1987, c. 692, §1 (NEW).] 18-B.  Governing body.  "Governing body" means the body that oversees the affairs of a financial institution. The governing body may also be referred to as the "board of directors," "board of trustees," "board of managers," "partners' committee" or "managing partners' committee," depending upon the ownership structure of the financial institution.   [PL 1997, c. 398, Pt. A, §10 (NEW).] 19.  Demand deposit.   [PL 1997, c. 398, Pt. A, §11 (RP).] 19-A.  Foreign bank.  "Foreign bank" means any company organized under the laws of a foreign country, a territory of the United States, Puerto Rico, Guam, American Samoa or the Virgin Islands that engages directly in the banking business. "Foreign bank" includes foreign commercial banks, foreign merchant banks and other foreign institutions that engage in usual banking activities in connection with the banking business in the countries where the foreign institutions are organized or operating.   [PL 1997, c. 182, Pt. A, §1 (NEW).] 20.  His.  "His," as used in this Title, means "his or her;" while "he" means "he or she."   [PL 1979, c. 663, §28 (AMD).] 20-A.  Home state.  "Home state" means:   A. With respect to a financial institution or out-of-state financial institution, the state under whose laws the financial institution or out-of-state financial institution is organized;   [PL 1997, c. 182, Pt. B, §1 (AMD).]B. With respect to a national bank or federal association, the state in which the main office of the national bank or federal association is deemed to be located under federal law; or   [PL 1997, c. 182, Pt. B, §1 (AMD).]C. With respect to a foreign bank, the state that the foreign bank has designated as its home state in accordance with Section 5 of the federal International Banking Act of 1978.   [PL 1997, c. 182, Pt. B, §2 (NEW).][PL 1997, c. 182, Pt. B, §§1, 2 (AMD).] 20-B.  Host state.  "Host state" means a state, other than the home state of an out-of-state financial institution, national bank or federal association, in which the financial institution maintains a branch or seeks to establish and maintain a branch.   [PL 1995, c. 628, §8 (NEW).] 21.  Indirect loan.  "Indirect loan" means a loan made to an individual, partnership, joint venture, syndicate or corporation which is an agent of another individual, partnership, joint venture, syndicate or corporation, the proceeds of which are used by the party for which the borrower is an agent.   [PL 1975, c. 500, §1 (NEW).] 22.  Industrial bank.  "Industrial bank" means a company organized under chapter 91 or having the powers possessed by companies so organized.   [PL 1975, c. 500, §1 (NEW).] 22-A.  In-school branch.   [PL 1997, c. 398, Pt. A, §12 (RP).] 22-B.  Insurance agent or agency.  "Insurance agent or agency" means a person engaged in the business of an insurance agent as defined in Title 24-A, section 1502.   [PL 1997, c. 315, §9 (NEW).] 22-C.  Insurance broker.  "Insurance broker" means a person engaged in the business of an insurance broker as defined in Title 24-A, section 1506.   [PL 1997, c. 315, §9 (NEW).] 22-D.  Insurance consultant.  "Insurance consultant" means a person engaged in the business of an insurance consultant as defined in Title 24‑A, section 1402, subsection 4, 8 or 11.   [PL 1999, c. 127, Pt. A, §20 (AMD).] 22-E.  Insurance product.  "Insurance product" means a contract of insurance that is offered for sale by a licensed agent or broker.   [PL 1997, c. 315, §9 (NEW).] 23.  Interested party.  "Interested party" means a person having a substantial interest in, or who is or may be aggrieved by, any act or impending act, or any report, rule, regulation, amendment, decision or order of the superintendent.   [PL 1975, c. 500, §1 (NEW).] 23-A.  Investor.  "Investor" means any person who has an ownership interest in a financial institution and is entitled to vote under the institution's organizational documents. "Investor" does not include a member of a credit union organized pursuant to the laws of this State.   [PL 2003, c. 322, §3 (AMD).] 23-B.  Investor-owned institution.  "Investor-owned institution" means a financial institution organized under chapter 31.   [PL 1997, c. 398, Pt. A, §13 (NEW).] 23-C.  Limited purpose bank.  "Limited purpose bank" or "limited purpose institution" means an institution operating pursuant to Part 12.   [PL 1997, c. 398, Pt. A, §13 (NEW).] 24.  Limited-time branch.   [PL 1997, c. 398, Pt. A, §14 (RP).] 24-A.  Low-income.  "Low-income" means earning less than 80% of the average income for all wage earners as established by the United States Department of Labor, Bureau of Labor Statistics or having an annual household income that falls at or below 80% of the median household income for the nation as established by the United States Department of Commerce, Bureau of the Census or as otherwise defined by order of the superintendent.   [PL 1997, c. 108, §1 (NEW).] 25.  Making a loan.  "Making a loan" means a loan made to a borrower by a single financial institution, or the purchase of a loan as authorized in section 431-A.   [PL 1997, c. 398, Pt. L, §5 (AMD).] 26.  Mobile branch.   [PL 1997, c. 398, Pt. A, §15 (RP).] 27.  Mutual financial institution.  "Mutual financial institution" or "mutual institution" means any financial institution organized pursuant to chapter 32, in which the earnings and net worth of the institution inure to the ultimate benefit of the depositors or members.   [PL 1997, c. 398, Pt. A, §16 (AMD).] 27-A.  Mutual voter.  "Mutual voter" means a corporator or member as described in chapter 32.   [PL 1997, c. 398, Pt. A, §17 (NEW).] 28.  National bank.  "National bank" means a bank or bank and trust company organized pursuant to the Act of Congress entitled "The National Bank Act", as amended, or any subsequent Act of Congress relating thereto.   [PL 1975, c. 500, §1 (NEW).] 28-A.  Nondepository trust company.  "Nondepository trust company" means any financial institution organized under chapter 121 with powers generally limited to trust or fiduciary matters.   [PL 1997, c. 398, Pt. A, §18 (AMD).] 29.  NOW account.   [PL 1997, c. 398, Pt. A, §19 (RP).] 29-A.  Out-of-state.  "Out-of-state" means a foreign country or a state other than this State.   [PL 1995, c. 628, §8 (NEW).] 29-B.  Out-of-state financial institution.  "Out-of-state financial institution" means a financial institution organized under provisions of law of a foreign country or a state other than this State that maintains, or seeks to establish and maintain, a branch in this State.   [PL 1995, c. 628, §8 (NEW).] 29-C.  Officer.  "Officer" means an employee of a financial institution who has been given managerial or other high-level duties by the governing body of the financial institution. Depending upon the ownership structure of the institution, an officer may include a person with the title of chair, president, vice-president, manager, managing partner or partner.   [PL 1997, c. 398, Pt. A, §20 (NEW).] 29-D.  Organizational document.  "Organizational document" means the charter, certificate of organization, articles of incorporation, articles of association, articles of organization, certificate of limited liability partnership, bylaws, operating agreement, partnership agreement or any other similar document required to be filed with and approved by the superintendent pursuant to section 314-A or 323.   [PL 1997, c. 398, Pt. A, §20 (NEW).] 30.  Person.  "Person" means an individual, corporation, partnership, joint venture, trust, estate or unincorporated association.   [PL 1975, c. 500, §1 (NEW).] 31.  Personal demand deposit.   [PL 1997, c. 398, Pt. A, §21 (RP).] 31-A.  Real estate-related services.  "Real estate-related services" means:   A. Real estate investment and development, pursuant to section 419-A;   [PL 1997, c. 398, Pt. A, §22 (NEW).]B. Maintenance and management of improved real estate;   [PL 1997, c. 398, Pt. A, §22 (NEW).]C. Real estate appraising;   [PL 1997, c. 398, Pt. A, §22 (NEW).]D. Real estate settlement services;   [PL 1997, c. 398, Pt. A, §22 (NEW).]E. Real estate brokerage activities with respect to properties owned by a financial institution authorized to do business in this State, a financial institution holding company, or subsidiaries thereof, regardless of how the property is acquired or for what purpose; or   [PL 1997, c. 398, Pt. A, §22 (NEW).]F. Any real estate-related service authorized by this Title or by rule or order of the superintendent or any real estate-related service authorized for any financial institution chartered by or otherwise subject to the jurisdiction of the Federal Government, pursuant to the authority granted under section 416.   [PL 1997, c. 398, Pt. A, §22 (NEW).][PL 1997, c. 398, Pt. A, §22 (NEW).] 32.  Savings account.  "Savings account" or "savings deposit" means a deposit or account in a financial institution in which the depositor is not required by the deposit contract, but may at any time be required by the financial institution, to give notice in writing of an intended withdrawal not less than 7 days before such withdrawal is made and that is not payable on a specified date or at the expiration of a specified time after the date of deposit.   [PL 2005, c. 82, §1 (AMD).] 33.  Savings and loan association.  "Savings and loan association," "association" or "loan and building association" means a financial institution organized under the prior laws of this State that is authorized to exercise the powers set forth in Part 4, subject to the conditions and limitations on the exercise of those powers as set forth in Part 4.   [PL 1997, c. 398, Pt. A, §23 (AMD).] 34.  Savings bank.  "Savings bank" or "institute for savings" means a financial institution organized under the prior laws of this State that is authorized to exercise the powers set forth in Part 4, subject to the conditions and limitations on the exercise of those powers as set forth in Part 4.   [PL 1997, c. 398, Pt. A, §23 (AMD).] 35.  Satellite facility.  "Satellite facility" means any facility, automated device or electronic terminal established by a financial institution authorized to do business in this State or a credit union authorized to do business in this State at which an existing financial institution or credit union customer may initiate banking transactions, including, but not limited to, cash deposits to and withdrawals from that customer's account, cash advances on a preauthorized credit line, transfers between deposit or share accounts or payment transfers from the customer's account to accounts of other financial institution or credit union customers. Such a facility is not permanently staffed and is not part of a main office or branch office of a financial institution or credit union. Such a facility may be part of an electronic funds transfer system. Satellite facilities include facilities engaged in soliciting, receiving or accepting money or its equivalent on deposit from new and existing customers. "Satellite facility" does not include a cash dispensing machine that, operating in conjunction with a processor and network, allows a customer to debit an account in exchange for dispensing cash and that may allow a customer to effectuate transfers between the customer's accounts in the same financial institution or credit union, a point-of-sale terminal, a night depository or an office or facility engaged solely in the solicitation and origination of loans.   [PL 2003, c. 322, §4 (AMD).] 36.  Seasonal branch.   [PL 1997, c. 398, Pt. A, §25 (RP).] 37.  Service corporation.  "Service corporation" means a corporation, limited liability company or limited partnership substantially all the activities of which consist of originating, purchasing, selling and servicing loans and participation interests therein; or clerical, bookkeeping, accounting and statistical or similar functions related to a financial institution or real estate activities; or management, personnel, marketing or investment counseling related to a financial institution or real estate activities; or establishing or operating one or more satellite facilities; or any activity authorized by the superintendent by rule or order that has been authorized under federal law for service corporations owned or controlled by national banks, federally chartered savings and loan associations, federally chartered savings banks or federally chartered credit unions. The purpose of authorizing any such activity is to maintain competitive equality between federally chartered and state-chartered institutions.   [PL 2005, c. 82, §2 (AMD).] 37-A.  Share account.  "Share account" means a share or deposit account at a credit union held by or offered to a member or potential member. "Share account" includes, but is not limited to, accounts such as share, share draft and term share accounts. "Share account" also includes a share or deposit account held by or offered to a nonmember in a community development credit union.   [PL 2003, c. 322, §5 (NEW).] 38.  Sociological composition.  "Sociological composition" means the reflection of broad social and economic characteristics of the communities in which a mutual financial institution derives a substantial part of its deposit and loan business.   [PL 1975, c. 500, §1 (NEW).] 39.  Stock financial institution.   [PL 1997, c. 398, Pt. A, §27 (RP).] 39-A.  Subsidiary.  "Subsidiary" means a corporation, partnership, business trust, association or similar organization, all of which are referred to in this subsection as "another company," owned or controlled by a financial institution or financial institution holding company. A financial institution or financial institution holding company shall be deemed to control "another company" if the criteria set forth in section 1011, subsection 4, are met.   [PL 1985, c. 328, §1 (NEW).] 40.  Superintendent.  "Superintendent" means the Superintendent of Financial Institutions.   [PL 2001, c. 44, §5 (AMD); PL 2001, c. 44, §14 (AFF).] 41.  Surplus account.  "Surplus account" or "total surplus" for a mutual financial institution means the sum of its capital reserves, surplus funds, undivided profits, and capital notes and debentures.   [PL 1975, c. 500, §1 (NEW).] 42.  Thrift institution.  "Thrift institution" means a savings bank or a savings and loan association organized under the prior laws of this State.   [PL 1997, c. 398, Pt. A, §28 (AMD).] 43.  Time deposit.  "Time deposit" means "time certificate of deposit" and "time deposit, open account".   [PL 1975, c. 500, §1 (NEW).] 44.  Time certificate of deposit.  "Time certificate of deposit" means a deposit evidenced by a negotiable or nonnegotiable instrument which provides on its face that the amount of such deposit is payable to bearer or to any specified person or to his order:   A. On a certain date, specified in the instrument, not less than 30 days after the date of the deposit; or   [PL 1975, c. 500, §1 (NEW).]B. At the expiration of a certain specified time not less than 30 days after the date of the instrument; or   [PL 1975, c. 500, §1 (NEW).]C. Upon notice in writing which is actually required to be given not less than 30 days before the date of repayment; and   [PL 1975, c. 500, §1 (NEW).]D. In all cases only upon presentation and surrender of the instrument.   [PL 1975, c. 500, §1 (NEW).][PL 1975, c. 500, §1 (NEW).] 45.  Time deposit, open account.  "Time deposit, open account" means a deposit other than a "time certificate of deposit", with respect to which there is in force a written contract with the depositor that neither the whole nor any part of such deposit may be withdrawn, by check or otherwise, prior to the date of maturity, which shall be not less than 30 days after the date of the deposit; or prior to the expiration of the period of notice which must be given by the depositor in writing not less than 30 days in advance of withdrawal.   [PL 1975, c. 500, §1 (NEW).] 45-A.  Total capital.  "Total capital" means the sum of capital, as defined in subsection 6, plus capital notes and debentures, other instruments approved by the superintendent and the allowance for loan losses or other similar reserves.   [PL 1997, c. 398, Pt. A, §29 (NEW).] 46.  Trust company.  "Trust company" or "trust and banking company" means any financial institution organized under the prior laws of this State that is authorized to exercise the powers set forth in Part 4, subject to the conditions and limitations on the exercise of those powers as set forth in Part 4.   [PL 1997, c. 398, Pt. A, §30 (AMD).] 47.  Universal bank.  "Universal bank" means an investor-owned institution or a mutual financial institution authorized by its organizational documents to exercise all the powers granted in Part 4 and includes a trust company, a savings bank and a savings and loan association chartered by special act of the Legislature, established prior to October 1, 1975 or established pursuant to this Title.   [RR 1997, c. 2, §34 (COR).] SECTION HISTORY PL 1975, c. 500, §1 (NEW). PL 1975, c. 666, §§1-4 (AMD). PL 1979, c. 663, §§27,28 (AMD). PL 1981, c. 352, §1 (AMD). PL 1981, c. 646, §1 (AMD). PL 1983, c. 553, §46 (AMD). PL 1983, c. 600, §1 (AMD). PL 1985, c. 328, §1 (AMD). PL 1987, c. 692, §§1,2 (AMD). PL 1991, c. 670, §§1,2 (AMD). RR 1993, c. 1, §24 (COR). PL 1993, c. 99, §1 (AMD). PL 1993, c. 492, §§1,2 (AMD). PL 1995, c. 628, §§1-8 (AMD). RR 1997, c. 2, §34 (COR). PL 1997, c. 22, §1 (AMD). PL 1997, c. 108, §1 (AMD). PL 1997, c. 182, §§A1,B1,2 (AMD). PL 1997, c. 315, §9 (AMD). PL 1997, c. 398, §§A1-31,L5 (AMD). PL 1999, c. 127, §A20 (AMD). PL 1999, c. 229, §1 (AMD). PL 2001, c. 44, §§4,5 (AMD). PL 2001, c. 44, §14 (AFF). PL 2003, c. 322, §§1-5 (AMD). PL 2005, c. 82, §§1,2 (AMD). PL 2005, c. 83, §1 (AMD). PL 2007, c. 69, §1 (AMD).