Maine Revised Statutes Title 9-B Sec. 368-A – FDIC; acquisition of stock
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Terms Used In Maine Revised Statutes Title 9-B Sec. 368-A
- 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. See Maine Revised Statutes Title 9-B Sec. 131
- FDIC: means the Federal Deposit Insurance Corporation or its successors. 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
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Superintendent: means the Superintendent of Financial Institutions. See Maine Revised Statutes Title 9-B Sec. 131
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).