Maine Revised Statutes Title 9-B Sec. 1313 – Federal branches and agencies
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1. Permissibility of federal branches and agencies. Nothing in this Title may be construed to prohibit the operation of a federal branch or a federal agency in this State.
[PL 1997, c. 182, Pt. B, §3 (NEW).]
Terms Used In Maine Revised Statutes Title 9-B Sec. 1313
- Agency: means any office or any place of business of a foreign bank located in any state of the United States at which credit balances are maintained incidental to or arising out of the exercise of banking powers, checks are paid, or money is lent, but at which deposits may not be accepted from persons who are citizens or residents of the United States. See Maine Revised Statutes Title 9-B Sec. 1311
- Branch: means any office or any place of business of a foreign bank located in any state of the United States at which deposits are received. See Maine Revised Statutes Title 9-B Sec. 1311
- Federal agency: means an agency of a foreign bank established and operating pursuant to Section 4 of the federal International Banking Act of 1978. See Maine Revised Statutes Title 9-B Sec. 1311
- Federal branch: means a branch of a foreign bank established and operating pursuant to Section 4 of the federal International Banking Act of 1978. See Maine Revised Statutes Title 9-B Sec. 1311
- Maine agency: means an agency of a foreign bank located in this State and established and operating pursuant to the provisions of this chapter. See Maine Revised Statutes Title 9-B Sec. 1311
- Maine branch: means a branch of a foreign bank located in this State and established and operating pursuant to the provisions of this chapter. See Maine Revised Statutes Title 9-B Sec. 1311
2. No concurrent maintenance of federal branches or agencies. No foreign bank authorized to operate a Maine branch or Maine agency pursuant to section 1312 may maintain concurrently a federal branch or federal agency in this State.
[PL 1997, c. 182, Pt. B, §3 (NEW).]
SECTION HISTORY
PL 1997, c. 182, §B3 (NEW).