Maine Revised Statutes Title 9-B Sec. 335 – Change of office location; closing of an office
Current as of: 2023 | Check for updates
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1. Relocation. A main office, branch or agency office of a financial institution may not be moved to a new location without the prior written approval of the superintendent, pursuant to section 336, except that a financial institution that meets the minimum standards set forth in section 412?A or 831 and any rules adopted pursuant to these sections and is not under an enforcement action that requires the superintendent’s prior approval of a branch relocation may relocate a main office or branch in this State without the prior approval of the superintendent. If the superintendent’s approval is not required, then the financial institution must inform the superintendent at least 10 days prior to the proposed action. This announcement must be accompanied by a recording fee not to exceed $100.
[PL 2017, c. 143, §2 (AMD).]
Terms Used In Maine Revised Statutes Title 9-B Sec. 335
- 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. See Maine Revised Statutes Title 9-B Sec. 131
- 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. See Maine Revised Statutes Title 9-B Sec. 131
- 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. See Maine Revised Statutes Title 9-B Sec. 131
- Superintendent: means the Superintendent of Financial Institutions. See Maine Revised Statutes Title 9-B Sec. 131
2. Closing. Any branch or agency office may be closed or discontinued with the prior written approval of the superintendent pursuant to section 336 after such public notice of the closing as the superintendent considers necessary.
[PL 1997, c. 398, Pt. E, §4 (AMD).]
SECTION HISTORY
PL 1975, c. 500, §1 (NEW). PL 1997, c. 398, §E4 (AMD). PL 2017, c. 143, §2 (AMD).