reglab/statecodes huggingface dataset:
Code of Maine Rules › 01 - DEPARTMENT OF AGRICULTURE, CONSERVATION AND FORESTRY › 672 - LAND USE PLANNING COMMISSION (formerly Land Use Regulation Commission) › Chapter 15 - GUIDELINES FOR PRIVATE ROADS OR WAYS IN THE LAND USE PLANNING COMMISSION'S MANAGEMENT DISTRICTS › Section 672-15-05 - Maintenance and Abandonment

Current through 2024-29, July 17, 2024
(Refer to Handbook, Section 6 )
1. Measures should be undertaken to maintain
				water diversion structures so as to control water runoff and avoid
				sedimentation of water.
2. Ditches,
				culverts and other water control installations should be inspected, cleaned out
				and maintained on a regular basis in order to remove debris and to assure
				normal functioning at all times.
3.
				Maintenance of water control installations should continue until the road is
				discontinued and put to bed by pulling of culverts, installation of water bars
				or other measures which are effective in stabilizing the area.
Where utilized, water bars should:
a. be constructed and maintained across the
				road at intervals which are sufficient to effectively control water runoff.
The following table should be used as a general guide in
				  determining appropriate spacing of water bars:
Road
Grade
Percent
Distance Between
Water Bars
feet
1-2
250
3-5
200-135
6-10
100-80
11-15
80-60
16-20
60-45
21+
40
b.
				be constructed at approximately 30 degrees downslope from the line
				perpendicular to the center line of the road;
c. be constructed so as to effectively
				prevent surface water from flowing over or under the water bar; and
d. extend sufficient distance beyond the
				traveled way so that water does not reenter the road surface.
Code of Maine Rules › 01 - DEPARTMENT OF AGRICULTURE, CONSERVATION AND FORESTRY › 672 - LAND USE PLANNING COMMISSION (formerly Land Use Regulation Commission) › Chapter 16 - Rules Relating to Large Lot Land Divisions › Section 672-16-01 - Legal Authority

Current through 2024-29, July 17, 2024
This rule is authorized and adopted under
				  12 M.R.S.
				  §685-A.
Code of Maine Rules › 01 - DEPARTMENT OF AGRICULTURE, CONSERVATION AND FORESTRY › 672 - LAND USE PLANNING COMMISSION (formerly Land Use Regulation Commission) › Chapter 16 - Rules Relating to Large Lot Land Divisions › Section 672-16-02 - Preamble

Current through 2024-29, July 17, 2024
This rule was adopted to provide appropriate transitional
				  standards for a limited number of subdivisions that were affected by the
				  elimination of exemptions for certain large lot divisions from the Commission's
				  regulatory standards and procedures.
Public Law 1989, Chapter 584 amended the definition of
				  subdivision in the Land Use Regulation law. As a result of this amendment to
				  the law, some lot divisions which had been exempt under the previous definition
				  became legally recognized as subdivisions, subject to regulatory review by the
				  Commission. Chapter 16 was established to provide a streamlined review process
				  for subdivisions that were in various stages of planning and implementation
				  when Chapter 584 was enacted.
This rule originally established a two-year time frame,
				  expiring July 1, 1992, for submission of applications for review under its
				  provisions. This deadline was subsequently extended to July 1, 1993 by Private
				  and Special Law 1991, chapter 92. During the time period established for review
				  of applications under this rule, seven large-lot subdivisions comprising
				  approximately 500 lots were approved under Chapter 16.
Since the deadline for consideration under Chapter 16 has
				  expired, the rule's function is now limited to maintaining the standards that
				  were applied to subdivisions reviewed under the rule.
Code of Maine Rules › 01 - DEPARTMENT OF AGRICULTURE, CONSERVATION AND FORESTRY › 672 - LAND USE PLANNING COMMISSION (formerly Land Use Regulation Commission) › Chapter 16 - Rules Relating to Large Lot Land Divisions › Section 672-16-04 - Applicability

Current through 2024-29, July 17, 2024
This rule applies only to parcels of real estate where all of
				  the following conditions have been met:
A. On or before July 12, 1989:
(1) A division of land was platted and
				recorded as permitted by the law in effect prior to the enactment of Public Law
				1989, chapter 584*;
(2) The plat of
				such land division was properly filed with the Registry and with the State Tax
				Assessor, or if the land is located in a plantation, with the tax assessor of
				the plantation;
(3) As platted and
				filed in the Registry, the division is comprised of lots where each lot to be
				sold or developed occupies at least 40 but not more than 100 acres;
(4) As platted and filed in the Registry, the
				division does not contain any spaghetti lots as that term is defined by
				12 M.R.S.
				§682(13); and
(5) The person creating the division
				undertook one or more of the following pre-development or development
				activities:
(a) Caused to be performed and
				recorded by a Maine registered land surveyor a valid and reasonably accurate
				land survey of each lot within the division;
(b) Sought and obtained a road construction
				permit from the Commission for construction of a road to serve the subdivision.
				Filing of a notification with the Commission for construction of a land
				management road is not sufficient to meet this condition;
(c) Sold or placed under contract for sale
				three or more lots within the division as that division is platted and filed in
				the Registry;
(d) Caused to be
				performed and recorded a medium intensity soils survey of the parcel or a soils
				suitability test for eighty percent or more of the lots in the division by
				either a licensed Site Evaluator or a Maine registered soil scientist;
				or
(e) Established a lot owners
				association for the maintenance of roads within the division, including the
				adoption of association bylaws; and
Code of Maine Rules › 01 - DEPARTMENT OF AGRICULTURE, CONSERVATION AND FORESTRY › 672 - LAND USE PLANNING COMMISSION (formerly Land Use Regulation Commission) › Chapter 16 - Rules Relating to Large Lot Land Divisions › Section 672-16-05 - Subdivisions Not Meeting Applicability Requirements or Not Meeting General Standards

Current through 2024-29, July 17, 2024
A Subdivision
				activities (including without limitation sales or conveyances of lots within a
				previously platted and recorded division, and which occur for the first time
				after the effective date of Public Law 1989, chapter 584) that do not meet the
				applicability requirements set forth in Section 16.04 of this rule require
				Commission subdivision approval and appropriate zoning pursuant to
				12 M.R.S.
				§685-B and Chapter 10.
B. This rule must not be construed to
				prohibit or govern the sale or other conveyance or the development of a lot
				that does not meet the requirements of this rule where subdivision approval by
				the Commission has otherwise been obtained under
				12 M.R.S.
				§685-B and Chapter 10 of the
				Commission's Standards.
C. The sale
				or lease of lots containing 40 or more acres for which a plan of those lots was
				filed with the Registry and the State Tax Assessor, or if the land is located
				in a plantation, with the tax assessor of the plantation, on or before April
				19, 1988 and for which subdivision approval was not required under law in
				effect on April 19, 1988 does not require subdivision approval by the
				Commission. See Public Law 1987, chapter 864, section 11.
Code of Maine Rules › 01 - DEPARTMENT OF AGRICULTURE, CONSERVATION AND FORESTRY › 672 - LAND USE PLANNING COMMISSION (formerly Land Use Regulation Commission) › Chapter 17 - REESTABLISHMENT OF COMMISSION JURISDICTION › Section 672-17-01 - Authority

Current through 2024-29, July 17, 2024
A. 12 M.R.S.A. §685-A(4) states in part
				that any plantation or municipality which adopts planning, zoning and
				subdivision control as provided in Title 30-A, §7059, shall be continued
				to be regulated by the Commission until such time as the plantation or
				municipality adopts land use plans and regulations not less protective of the
				existing natural, recreational or historic resources than those adopted by the
				Commission. Upon obtaining approval, the plantation or municipality shall
				thereafter adopt, administer and enforce the approved plans, maps, regulations
				and standards.
B. 12 M.R.S.A.
				§685-A(4) provides that the Commission review from time to time the
				administration and enforcement of local land use plans and regulations by
				plantations and municipalities which have adopted land use plans, maps,
				regulations and standards approved by the Commission. If, following the review,
				the Commission finds that any of the following have occurred, the Commission
				may reestablish its jurisdiction over that plantation or municipality:
(1) a plantation or municipality has repealed
				the land use plan, maps, standards or regulations necessary to satisfy the
				requirements of the Commission's land use laws, regulations or standards or has
				substantially modified the land use plan, maps, standards or regulations so
				that the resources of the plantation or municipality are not reasonably
				protected;
(2) a plantation or
				municipality has abolished or does not have functioning the administrative
				bodies and officers necessary to implement the land use program as approved by
				the Commission, normally a planning board, board of appeals and code
				enforcement officer; or
(3) a
				plantation or municipality has not administered or enforced its land use
				program in a manner which reasonably protects the resources in the plantation
				or municipality involved.
The action by the Commission must conform with the
				  provisions for rulemaking of the Maine Administrative Procedure Act, Title 5,
				  chapter 375.
Code of Maine Rules › 01 - DEPARTMENT OF AGRICULTURE, CONSERVATION AND FORESTRY › 672 - LAND USE PLANNING COMMISSION (formerly Land Use Regulation Commission) › Chapter 17 - REESTABLISHMENT OF COMMISSION JURISDICTION › Section 672-17-02 - Purpose

Current through 2024-29, July 17, 2024
This rule reestablishes the jurisdiction of the Maine Land
				  Use Planning Commission in those municipalities and plantations where the
				  Commission has found that one or more of the conditions for reestablishing
				  jurisdiction set forth in
				   12 M.R.S.A.
				  §685-A(4) has occurred
				  in the plantation or municipality.
Code of Maine Rules › 01 - DEPARTMENT OF AGRICULTURE, CONSERVATION AND FORESTRY › 672 - LAND USE PLANNING COMMISSION (formerly Land Use Regulation Commission) › Chapter 17 - REESTABLISHMENT OF COMMISSION JURISDICTION › Section 672-17-03 - Applicability and Effective Date of Reestablished Jurisdiction

Current through 2024-29, July 17, 2024
The Commission has found that one or more of the conditions
				  set forth in
				   12 M.R.S.A.
				  §685-A(4) has occurred
				  in each municipality and plantation identified below and has concluded
				  reestablishment of the Commission's jurisdiction in that municipality or
				  plantation is necessary to reasonably protect the natural, recreational,
				  historic or other resources of the municipality or plantation and to extend the
				  principles of sound planning, zoning and subdivision control to the
				  municipality or plantation:
A.
Brighton Plantation, Somerset County
(1) Brighton Plantation, located in Somerset
				County, had been granted plantation status under Maine law. Brighton Plantation
				did not administer its own land use planning and regulatory program. Instead,
				the Commission carried out those functions in lieu of local
				government.
(2) In accordance with
				12 M.R.S.A. §685-A(4), Brighton Plantation submitted to the Commission a
				Comprehensive Land Use Plan, zoning ordinance including standards and land use
				subdistricts, and a land use district boundary map(s) for the plantation. In
				February 1987, the Commission approved the plan, ordinance and
				map(s).
(3) On May 12, 1990, the
				Plantation adopted its Comprehensive Land Use Plan, zoning ordinance and map(s)
				that earlier had been approved by the Commission. Thus the plantation removed
				itself from the Commission's jurisdiction on May 12, 1990 and began
				administering its local land use program.
(4) On March 28, 1992, at an annual meeting
				of the plantation, Brighton Plantation abolished its planning board and voted
				to return to the jurisdiction of the Maine Land Use Planning Commission. The
				plan and ordinance were not repealed at that time although the plantation lacks
				the administrative body necessary to review and act upon zoning or permit
				applications or carry out other necessary provisions of the land use plan and
				ordinance in the plantation. At a special plantation meeting held on May 19,
				1992, Brighton Plantation reaffirmed its decision of March 28, 1992.
(5) The Commission had reestablished
				jurisdiction over Brighton Plantation effective August 14, 1992. Subsequently,
				Brighton Plantation submitted an updated Comprehensive Land Use Plan and Land
				Use Zoning Ordinance to the Commission in 1995. The Commission approved this
				Plan and Ordinance on June 15, 1995. Brighton Plantation adopted these updated
				versions of its Comprehensive Land Use Plan and Land Use Zoning Ordinance on
				July 20, 1995, and resumed land use control effective on the same
				date.
Code of Maine Rules › 01 - DEPARTMENT OF AGRICULTURE, CONSERVATION AND FORESTRY › 672 - LAND USE PLANNING COMMISSION (formerly Land Use Regulation Commission) › Chapter 17 - REESTABLISHMENT OF COMMISSION JURISDICTION › Section 672-17-04 - Jurisdiction Reestablished

Current through 2024-29, July 17, 2024
A. The Commission
				reestablishes its jurisdiction over the municipalities and plantations
				identified in section 17.03 above and adopts a Land Use Guidance Map(s) for
				those areas.
B. The municipalities
				and plantations identified in section 17.03 above are subject to the plans,
				maps, regulations, standards and other requirements of the
				Commission.
C. This reestablishment
				of jurisdiction supersedes any Commission prior approval of such
				municipalities' and plantations' plan, ordinance and map(s).
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 027 - OFFICE OF THE COMMISSIONER › Chapter 2 - DISCLOSURE OF INVESTIGATIVE RECORDS OF BOARDS WHEN PUBLIC KNOWLEDGE EXISTS › Section 027-2-1 - DEFINITIONS

Current through 2024-29, July 17, 2024
As used in this rule, unless the context otherwise indicates,
				  the following terms have the following meanings:
A. "Commissioner" means the commissioner of
				Professional and Financial Regulation.
B. "Division Director" means the Director of
				Licensing and Enforcement.
C.
				"Commission Director" means the Director of the Real Estate
				Commission.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 027 - OFFICE OF THE COMMISSIONER › Chapter 2 - DISCLOSURE OF INVESTIGATIVE RECORDS OF BOARDS WHEN PUBLIC KNOWLEDGE EXISTS › Section 027-2-2 - CRITERIA FOR DISCLOSURE DURING PENDING INVESTIGATION

Current through 2024-29, July 17, 2024
Except for investigative records subject to
				   10 M.R.S.A.
				  Section8003-B(3), the
				  Commissioner, Division Director, Commission Director or departmental employee
				  designated by the commissioner, may disclose a complaint or investigative
				  records, upon request, during the pendency of an investigation provided that
				  the criteria set forth in A and B below are satisfied.
A. Confidentiality is no longer warranted due
				to general public knowledge of the circumstances surrounding the complaint or
				investigation. Factors relevant to such a determination may include, but are
				not limited to, the following:
1. broadcast
				or printing of media news stories available to the general
				population;
2. publication of the
				circumstances in public court documents; and
3. availability of the information in some
				other accessible public source or record.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 027 - OFFICE OF THE COMMISSIONER › Chapter 2 - DISCLOSURE OF INVESTIGATIVE RECORDS OF BOARDS WHEN PUBLIC KNOWLEDGE EXISTS › Section 027-2-3 - REQUIREMENTS FOR EVIDENCE

Current through 2024-29, July 17, 2024
The Commissioner, Division Director, commission Director, or
				  departmental employee designated by the Commissioner may require the individual
				  requesting disclosure to submit written or other evidence that the
				  circumstances of the case are within the scope of general public knowledge.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 101 - RETENTION OF RECORDS - FINANCIAL INSTITUTIONS (Reg. #1) › Section 029-101-I - AUTHORITY

Current through 2024-29, July 17, 2024
Title
				   9-B MRSA
				  Section225 requires that all records of
				  financial institutions be retained for such minimum periods as the
				  superintendent may prescribe.
31 CFR 103 sets forth the retention of records requirements
				  for financial institutions and credit unions as established by the Secretary of
				  the Treasury.
12 CFR Part 749 addresses other recordkeeping requirements
				  for federally insured credit unions subject to the supervision of the National
				  Credit Union Administration.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 101 - RETENTION OF RECORDS - FINANCIAL INSTITUTIONS (Reg. #1) › Section 029-101-II - PURPOSE

Current through 2024-29, July 17, 2024
To classify records kept by financial institutions operating
				  in Maine and to prescribe the minimum period for which these records shall be
				  maintained.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 101 - RETENTION OF RECORDS - FINANCIAL INSTITUTIONS (Reg. #1) › Section 029-101-III - DEFINITIONS

Current through 2024-29, July 17, 2024
A. "Financial institution" means a financial
				institution as defined by Title
				 9-B MRSA
				Section131(17-A), or a
				credit union as defined by Title
				 9-B MRSA
				Section131(12-A).
B. "Media reproduction" means recording,
				copying, or reproducing records by any photographic, photostatic, microfilm,
				micro-card, miniature photographic, optical disk that is not erasable, or other
				process which accurately reproduces or forms a durable medium for so
				reproducing the original, the reproduction or copy, when satisfactorily
				identified, is as admissible in evidence as the original itself in any judicial
				or administrative proceeding.
C.
				"Record" means all documentary material, regardless of media or
				characteristics, made or received and maintained by a financial institution in
				accordance with law or regulation or in the transaction of its official
				business.
D. "Deposit account"
				means a deposit account as defined in Federal Reserve Regulation D, "Reserve
				Requirements of Depository Institutions" (12 CRF 204) and members accounts of
				credit unions as defined in the National Credit Union Administration Rules and
				Regulations (12 USC).
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 101 - RETENTION OF RECORDS - FINANCIAL INSTITUTIONS (Reg. #1) › Section 029-101-IV - AUTHORIZATION AND LIMITATIONS

Current through 2024-29, July 17, 2024
Financial institutions shall retain records for such minimum
				  periods as prescribed by the following schedule, insofar as it does not
				  contravene federal law. The Records Retention Schedule, which is contained in
				  Section
				  VI of this rule, is organized by
				  function and is representative of those records utilized during the course of
				  operation of a financial institution. All records may not be specifically
				  addressed in this rule; financial institutions are encouraged, although not
				  required, to supplement this schedule to meet their operational needs. All
				  records, with the exception of those that are considered to be of a permanent
				  nature, may be retained in media reproduction format for the periods of time
				  designated in Section
				  VI of this rule. Records designated
				  for permanent retention must be held in original form.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 101 - RETENTION OF RECORDS - FINANCIAL INSTITUTIONS (Reg. #1) › Section 029-101-V - FEDERAL REGULATIONS

Current through 2024-29, July 17, 2024
It is recognized that the retention of certain financial
				  institution records may be governed by federal rule/statute. It is further
				  recognized that there may exist differences in scope and coverage between this
				  regulation and federal rules governing retention of those records. All records
				  of financial institutions shall be maintained in accordance with the Records
				  Retention Schedule found in Section
				  VI of this regulation insofar as such
				  retention schedule does not contravene paramount federal law. Those records
				  that are not addressed in Section
				  VI of this regulation, and for which
				  there is a retention schedule required under federal law, shall be retained for
				  the period of time specified in said federal law.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 107 - ACTIVITIES PERMISSIBLE FOR FINANCIAL INSTITUTION HOLDING COMPANIES (Reg. #7) › Section 029-107-1 - AUTHORITY

Current through 2024-29, July 17, 2024
Title
				   9-B M.R.S.A.
				  Section1014 authorizes the Superintendent to
				  promulgate regulations specifying which closely related activities, permissible
				  under either the Bank Holding Company Act of 1956 or Section 408 of the
				  National Housing Act, shall be permissible for Maine financial institution
				  holding companies. In 1987, Section 1014 was broadened by P.L. 1987, c. 90, by
				  providing that the rules may authorize activities "which are no more
				  restrictive" than those permitted by federal law and
				  regulation.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 107 - ACTIVITIES PERMISSIBLE FOR FINANCIAL INSTITUTION HOLDING COMPANIES (Reg. #7) › Section 029-107-2 - Purpose

Current through 2024-29, July 17, 2024
The Federal Reserve Board amended its Regulation Y in 1984
				  and 1986, which revised and broadened the range of permissible closely related
				  activities. Many other states have been aggressive in authorizing new powers
				  for their financial institutions which have not yet been authorized by the
				  Federal Reserve Board. During the recent period of deregulation, both state and
				  federal regulators have more liberally interpreted existing laws and
				  regulations, thus broadening the scope of authorized powers. It is the intent
				  of the Bureau of Banking to permit Maine financial institutions or Maine
				  financial institution holding companies to engage in activities at least as
				  broad as, or broader than, those activities authorized by federal law and
				  regulation.
Since specific provisions are being added and existing powers
				  broadened on a continuing basis, it is burdensome for the Bureau to amend this
				  regulation each time federal regulations are amended. The Bureau, therefore,
				  authorizes all Maine financial institutions and all Maine financial institution
				  holding companies to engage in closely related activities authorized by federal
				  regulation as well as those additional activities authorized by this
				  regulation, subject to approval of an application submitted pursuant to Section
				  3.C of this regulation.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 107 - ACTIVITIES PERMISSIBLE FOR FINANCIAL INSTITUTION HOLDING COMPANIES (Reg. #7) › Section 029-107-3 - Provisions of the Regulation

Current through 2024-29, July 17, 2024
A. Authorization.
A Maine financial institution or a Maine financial
				  institution holding company may engage in closely related activities as
				  provided by federal law and regulation (Bank Holding Company Act of 1956, 12
				  U.S.C. subsection 1841 et. seq., 12 C.F.R. subsection 225.25 or Section 408 of
				  the National Housing Act, 12 U.S.C. subsection 1730(a), 12 C. F.R. subsection
				  583 ), unless the activity is prohibited by state law other than Title 9-B, but
				  subject to the Bureau approval of an application submitted pursuant to Section
				  3.C of this regulation. In addition to those activities authorized by federal
				  law and regulation, the activities listed below are so closely related to
				  banking or managing or controlling banks as to be a proper incident thereto and
				  consequently they are deemed to be "closely related activities" in which a
				  Maine financial institution or Maine financial institution holding company may
				  engage.
B. Additional
				activities.
The activities listed below are so closely related to banking
				  or managing or controlling banks as to be a proper incident thereto and may be
				  engaged in by a Maine financial institution or a Maine financial institution
				  holding company, or subsidiary of either, subject to the requirements of a
				  paragraph 3.C:
(1) Owning and
				operating a real estate agency for the purpose of selling properties owned by a
				financial institution holding company, financial institution, or subsidiaries
				thereof. This property may include real estate acquired by foreclosure or deed
				in lieu of foreclosure, real estate acquired for investment or development, or
				real estate owned by a financial institution or affiliates. This activity shall
				be conducted subject to the licensing and other requirements of the Maine Real
				Estate Commission.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 109 - ADVERTISING BY FINANCIAL INSTITUTIONS, FINANCIAL INSTITUTION HOLDING COMPANIES AND SUBSIDIARIES OR SERVICE CORPORATIONS (Reg. 9) › Section 029-109-I - AUTHORITY

Current through 2024-29, July 17, 2024
Title
				   9-B M.R.S.A. §215
				  states that the Superintendent shall have the power to implement by rule any
				  provision of law relating to the supervision of financial institutions and
				  their subsidiaries or financial holding companies and their
				  subsidiaries.
Title
				   9-B M.R.S.A.
				  §241 gives the Superintendent the power
				  to promulgate rules defining, limiting or proscribing acts and practices which,
				  when engaged in by a financial institution or its subsidiary or by a financial
				  institution holding company or its subsidiary, are determined to be
				  anticompetitive, unfair, deceptive or otherwise injurious to the public
				  interest.
Title
				   9-B M.R.S.A.
				  §242 gives the Superintendent the
				  authority to promulgate rules defining, limiting or proscribing false,
				  misleading or deceptive advertising or representations by a financial
				  institution authorized to do business in this State, a credit union authorized
				  to do business in this State, an association of such institutions or a
				  financial institution holding company.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 109 - ADVERTISING BY FINANCIAL INSTITUTIONS, FINANCIAL INSTITUTION HOLDING COMPANIES AND SUBSIDIARIES OR SERVICE CORPORATIONS (Reg. 9) › Section 029-109-II - Purpose

Current through 2024-29, July 17, 2024
The purpose of this rulemaking is to repeal and replace
				  Bureau of Financial Institution Regulation #9 (Chapter 109). This rule sets
				  forth guidelines for advertising of deposit accounts by financial institutions,
				  subsidiaries of financial institutions, financial institution holding
				  companies, subsidiaries of financial institution holding companies and
				  representatives of financial institutions or financial institution holding
				  companies, to provide guidance on advertising that is considered to be false,
				  misleading or deceptive.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 109 - ADVERTISING BY FINANCIAL INSTITUTIONS, FINANCIAL INSTITUTION HOLDING COMPANIES AND SUBSIDIARIES OR SERVICE CORPORATIONS (Reg. 9) › Section 029-109-III - Definitions

Current through 2024-29, July 17, 2024
A. "Advertising" means a commercial message
				appearing in any medium that directly or indirectly promotes availability of a
				deposit account or service of a financial institution. Advertising includes,
				but is not limited to, Internet banners or "pop-ups," signage, either interior
				or exterior, pre-recorded telephone messages and displays.
B. "Consumer deposit account" means a deposit
				account at a financial institution that is held by, or offered to, a natural
				person who holds or will hold, the account primarily for personal, family, or
				household purposes. The term "consumer deposit account" includes an account at
				a financial institution that is held by or on behalf of a deposit broker as
				defined by
				12 U.S.C.
				1831f(g), if any interest in
				the account is held by or offered to a consumer. The term "consumer deposit
				account" does not include a deposit account held by a natural person who holds
				the account for another in a professional capacity or an account held by an
				unincorporated non-business association of natural persons.
C. "Deposit account" means a "deposit,"
				"demand deposit," "time deposit," "nonpersonal time deposit, "savings deposit"
				and "transaction account" as defined in Federal Reserve Board Regulation D,
				"Reserve Requirements of Depository Institutions,"
				12
				C.F.R. Part 204.2 (October 21,
				2005)."1
D. "Financial Institution" means a financial
				institution authorized to do business in this State as defined by
				 9-B M.R.S.A.
				§131(17-A), or credit
				union authorized to do business in this State, as defined by
				 9-B M.R.S.A.
				§131
									§(12-A).
E. "Regulated institution" means a "financial
				institution" as defined by
				 9-B M.R.S.A.
				§131(17); a "financial
				institution holding company" as defined by
				 9-B M.R.S.A.
				§1011(1); and a
				"subsidiary" as defined by
				 9-B M.R.S.A.
				§131(39-A) or "service
				corporation" as defined by
				 9-B M.R.S.A.
				§131(37), to the extent
				that that the subsidiary or service corporation provides advertising or
				marketing services for a financial institution or financial institution holding
				company.
Copies of
					 12
					 C.F.R. Part 204.2 may be obtained at cost
					 from the Bureau of Financial Institutions or from the Federal Reserve Bank of
					 Boston, 600 Atlantic Avenue Boston, MA 02016 (Tel: 617-973-3000). Copied may be
					 obtained at no cost via the Internet at
http://www.gpoaccess.gov/cfr/index.html
.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 109 - ADVERTISING BY FINANCIAL INSTITUTIONS, FINANCIAL INSTITUTION HOLDING COMPANIES AND SUBSIDIARIES OR SERVICE CORPORATIONS (Reg. 9) › Section 029-109-IV - General Provisions

Current through 2024-29, July 17, 2024
Advertising of deposit accounts by a regulated institution
				  may not be inaccurate or misleading. Inaccurate or misleading advertising,
				  includes but is not limited to, making any statement or claim which cannot be
				  substantiated, which misrepresents the terms or conditions of the deposit
				  accounts offered or which has a tendency or capacity to deceive.
A. All claims of a comparative nature,
				including claims of certain dollar amounts saved, must be capable of
				substantiation and must be verified by the regulated institution prior to the
				appearance of the advertising and must be substantiated upon request.
B. Advertising offering a "bonus" or
				"premium" must conspicuously state the terms under which the bonus or premium
				may be collected. Should the bonus or premium represent a prepayment of
				interest, that fact shall be conspicuously stated in the
				advertisement.
C. Advertising for
				consumer deposit accounts must also meet the requirements of Section
				V of this regulation.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 109 - ADVERTISING BY FINANCIAL INSTITUTIONS, FINANCIAL INSTITUTION HOLDING COMPANIES AND SUBSIDIARIES OR SERVICE CORPORATIONS (Reg. 9) › Section 029-109-V - Use of the Words "Free," "Fees Waived" or "Profit"

Current through 2024-29, July 17, 2024
A. Advertising of consumer deposit accounts
				by a regulated institution may not refer to or describe the account as "free"
				or "no cost" or contain a similar term, if a maintenance or activity fee may be
				imposed on the account. For purposes of this section, maintenance or activity
				fees include:
1. Fees imposed when a minimum
				balance requirement is not met or a specified number of transactions is
				exceeded;
2. Transaction and
				service fees that can be reasonably expected to be imposed on a regular
				basis;
3. A flat fee, such as a
				monthly service fee; and
4. Fees
				imposed to deposit, withdraw, or transfer funds, including per-check or
				per-transaction charges.
Examples of fees that are not considered to be maintenance or
				  activity fees include:
1.
				Check printing fees;
2. Balance
				inquiry fees;
3. Stop-payment fees
				and fees associated with checks returned unpaid;
4. Fees assessed against a dormant account;
				and
5. Fees for ATM or electronic
				transfer services, such as pre-authorized transfers or home banking services
				that are not required to obtain an account.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 118 - FUNDS AVAILABILITY AND TRUTH-IN-SAVINGS (Reg. 18) › Section 029-118-I - AUTHORITY

Current through 2024-29, July 17, 2024
Title
				   9-B MRS
				  Section241(1) gives the
				  Superintendent the authority to promulgate rules defining, limiting, or
				  proscribing acts and practices which are determined to be anti-competitive,
				  unfair, deceptive or otherwise injurious to the public interest.
Title
				   9-B MRS
				  Section241(5) gives the
				  Superintendent the authority to promulgate rules setting forth time limitations
				  and disclosure requirements governing funds availability. That statute also
				  requires that Maine's financial institutions make funds, represented by items
				  deposited into an account, available for withdrawal within a reasonable
				  time.
Title
				   9-B MRS
				  Section242(1) gives the
				  Superintendent authority to adopt rules defining, limiting or proscribing
				  advertising that is false, misleading or deceptive.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 118 - FUNDS AVAILABILITY AND TRUTH-IN-SAVINGS (Reg. 18) › Section 029-118-II - PURPOSE

Current through 2024-29, July 17, 2024
This promulgation repeals and replaces Regulation 18. Its
				  purpose is to conform Regulation 18 to up-to-date federal regulations,
				  including incorporating by reference the CFPB's 12 CFR Part 1030 which is
				  supplanting the Board's 12 CFR Part 230.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 118 - FUNDS AVAILABILITY AND TRUTH-IN-SAVINGS (Reg. 18) › Section 029-118-III - PROVISIONS OF THE REGULATION

Current through 2024-29, July 17, 2024
A.
Definitions
1. "Business day"
				means a business day as defined by Title
				9-B MRS
				§145(1).
2. "Credit union" means a credit union
				authorized to do business as defined by Title
				9-B MRS
				§131(12-A).
3. Financial institution" means a financial
				institution authorized to do business as defined in Title
				9-B MRS
				§131(17-A).
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 119 - ALTERNATIVE MORTGAGE TRANSACTIONS › Section 029-119-1 - AUTHORITY

Current through 2024-29, July 17, 2024
This rule is being adopted in accordance with the following
				  statutory authority:
A.
									9-A
				M.R.S.A. §6-104(1)
				(E);
B.
									9-A
				M.R.S.A.
				§9-302(1).
C.
									9-B M.R.S.A.
				§111;
D.
									9-B M.R.S.A.
				§215;
E.
									9-B M.R.S.A.
				§241;
F.
									9-B M.R.S.A.
				§532; and
G.
									9-B M.R.S.A.
				§732.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 119 - ALTERNATIVE MORTGAGE TRANSACTIONS › Section 029-119-2 - PURPOSE

Current through 2024-29, July 17, 2024
The purpose of this Rule is to regulate alternative mortgage
				  transactions "made or entered into in this State", as that term is defined in
				   9-A M.R.S.A.
				  §1-201(1)(A),(B), by
				  supervised lenders and by financial institutions so as to:
A. Assure, to the extent possible, an
				adequate and consistent supply of funds to consumers for home
				mortgages;
B. Allow these lenders
				to share, in part, the risk of rising interest rates with consumers so as to
				encourage mortgage lending;
C.
				Permit and encourage the development of fair and innovative mortgage lending
				instruments that are responsive to the needs of the times for the benefit of
				consumers and creditors;
D. Assure
				adequate consumer protections so as to prevent unreasonably high risk of
				default;
E. Create, to the extent
				possible, competitive equality among those creditors subject to regulation by
				the Office of Consumer Credit Regulation and financial institutions regulated
				by the Bureau of Banking and other governmental agencies; and
F. Provide consumers with educational
				information regarding alternative mortgage transactions in order to reduce the
				potential for misunderstanding and deception in the marketing of alternative
				mortgage instruments.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 119 - ALTERNATIVE MORTGAGE TRANSACTIONS › Section 029-119-3 - DEFINITIONS

Current through 2024-29, July 17, 2024
As used in this Rule, the following terms have the following
				  meanings, unless the context clearly requires otherwise:
A. "Alternative Mortgage Transaction" means a
				loan or a credit sale secured by a one to four family dwelling located in this
				state, other than an open-end credit plan, made primarily for personal, family
				or household purposes with a term greater than one year:
(1) which is subject to Article IX of the
				Maine Consumer Credit Code or made to finance or refinance the purchase or
				initial construction of a one to four family dwelling, including a condominium
				unit, cooperative housing unit, or a manufactured home, and which is secured by
				a first lien interest in that property; and
(2) in which the interest rate may be
				adjusted or renegotiated, involving fixed rates but which implicitly permits
				rate adjustments by having the loan mature at the end of an interval shorter
				than the term of the amortization schedule or involving any similar type of
				rate, method of determining return, term, repayment, or other variation not
				common to fixed rate, fixed term transactions, including, but not limited to,
				shared appreciation mortgages, adjustable rate mortgages, partially amortized
				mortgages and renegotiable rate mortgages.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 119 - ALTERNATIVE MORTGAGE TRANSACTIONS › Section 029-119-4 - AUTHORIZATIONS AND LIMITATIONS

Current through 2024-29, July 17, 2024
A creditor or financial institution may engage in an
				  alternative mortgage transaction subject to the following limitations:
A. Fully-Amortizing Loans with Adjustable
				Features: An alternative mortgage instrument in which adjustments may be made
				to the interest rate, payment amount, principal balance or term to maturity
				shall comply with the provisions of this subsection:
(1) Frequency of Payment Change. Changes in
				payment amounts may occur only as follows:
(a) Loans with interest rate adjustments
				based on movement of an index: changes may occur only at regular intervals of
				not less than quarterly, except that:
(I) the
				length of the interval before the first potential interest rate change may be
				extended by any pre-determined period as established in the loan documents; and
(ii) an adjustment in payment amount pursuant
				to a contract under which the interest rate varies in accordance with an index
				and under which the borrower may limit the amount of payment increase resulting
				from such rate variation may require more frequent adjustments if maximum
				negative amortization permitted under the contract occurs.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 119 - ALTERNATIVE MORTGAGE TRANSACTIONS › Section 029-119-5 - DISCLOSURE

Current through 2024-29, July 17, 2024
A creditor or financial institution offering alternative
				  mortgage transactions shall disclose in writing to a prospective borrower at
				  the time an application form is provided or before the applicant pays a
				  nonrefundable fee, whichever is earlier, the following information:
A. The terms prescribed by Section
				4 [with the exception of §
									4(A)(4) ];
				and
B. Any additional information
				required by Federal Reserve Regulation Z,
				12 CFR Section
				226.19.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 119 - ALTERNATIVE MORTGAGE TRANSACTIONS › Section 029-119-6 - ENFORCEMENT

Current through 2024-29, July 17, 2024
This regulation shall be enforced by the Office of Consumer
				  Credit Regulation for creditors and the Bureau of Banking for financial
				  institutions.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 119 - ALTERNATIVE MORTGAGE TRANSACTIONS › Section 029-119-7 - CONSUMER EDUCATION

Current through 2024-29, July 17, 2024
The Office of Consumer Credit Regulation, in conjunction with
				  the Bureau of Banking, will continue a formal program of consumer education
				  regarding alternative mortgage instruments. Creditors and financial
				  institutions which offer these instruments will, at the discretion of the
				  Director of the Office of Consumer Credit Regulation or the Superintendent of
				  the Bureau of Banking, distribute informational literature to prospective
				  mortgage customers.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 119 - ALTERNATIVE MORTGAGE TRANSACTIONS › Section 029-119-8 - REPEAL OF CHAPTER 121 (REGULATION 21)

Current through 2024-29, July 17, 2024
Chapter 121 (Regulation 21), initially promulgated effective
				  September 6, 1983 is repealed. Financial institutions offering Partially
				  Amortized Loans are subject to the provisions 1996 Joint Rule Chapter 119
				  (Regulation 19).
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 122 - SECURITIES ACTIVITIES OF SUBSIDIARIES OF FINANCIAL INSTITUTIONS (Reg. 22) › Section 029-122-II - PURPOSE

Current through 2024-29, July 17, 2024
The purpose of this regulation is to grant the authority to
				  and provide the regulatory framework for banks and savings and loan
				  associations to engage in certain securities brokerage activities so as
				  to:
1) Bring about the greatest
				possible uniformity and encourage parity between federally-chartered and
				state-chartered financial institutions;
2) Provide a wider variety of financial
				services to customers of state-chartered banks and savings and loan
				associations; and
3) Assure
				uniformity in registration and reporting requirements among all participating
				financial institutions.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 122 - SECURITIES ACTIVITIES OF SUBSIDIARIES OF FINANCIAL INSTITUTIONS (Reg. 22) › Section 029-122-III - DEFINITIONS

Current through 2024-29, July 17, 2024
For purposes of this regulation, the following terms have the
				  following meanings:
1) Control - The
				power to exercise a controlling influence over the management and policies of a
				company, as further defined in Title
				 9-B M.R.S.A.
				Section1011(4).
2) Discount Brokerage Services - Buying and
				selling securities, solely as agent, on the order and for the account of
				customers. Discount brokerage services do not include providing investment
				advice or buying or selling for the account of the financial institution, or
				the issuing, underwriting or distributing of securities or any public sale of
				securities which may be prohibited by § 378(a)(1).
3) Extension of Credit - The making or
				renewal of any loan, a draw upon a line of credit, or an extending of credit in
				any manner whatsoever and includes, but is not limited to:
(i) A purchase, whether or not under
				repurchase agreement, of securities, other assets, or obligations;
(ii) An advance by means of an overdraft,
				cash item, or otherwise;
(iii)
				Issuance of a standby letter of credit (or other similar arrangement regardless
				of name or description);
(iv) An
				acquisition by discount, purchase, exchange, or otherwise of any note, draft,
				bill of exchange, or other evidence of indebtedness upon which a natural person
				or company may be liable as maker, drawer, endorser, guarantor, or
				surety;
(v) A discount of
				promissory notes, bills of exchange, conditional sales contracts, or similar
				paper, whether with or without recourse;
(vi) An increase of an existing indebtedness,
				but not if the additional funds are advanced by the bank for its own protection
				for (A) accrued interest or (B) taxes, insurance, or other expenses incidental
				to the existing indebtedness; or
(vii) Any other transaction as a result of
				which a natural person or company becomes obligated to pay money (or its
				equivalent to a bank, whether the obligation arises directly or indirectly, or
				because of an endorsement on an obligation or otherwise, or by any means
				whatsoever.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 029 - BUREAU OF FINANCIAL INSTITUTIONS › Chapter 122 - SECURITIES ACTIVITIES OF SUBSIDIARIES OF FINANCIAL INSTITUTIONS (Reg. 22) › Section 029-122-IV - PROVISIONS OF THE REGULATION

Current through 2024-29, July 17, 2024
1) Subject to the
				restrictions and limitations set forth in this regulation, financial
				institutions are hereby authorized, directly or through subsidiaries, to engage
				in the activities enumerated below:
(A)
				Discount brokerage services;
(B)
				Investment advisory services; and
(C) Activities reasonably incident to those
				listed in 1 through 2 above, as determined by the Superintendent.