Maine Revised Statutes Title 9-B Sec. 421-A – General deposit powers
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Terms Used In Maine Revised Statutes Title 9-B Sec. 421-A
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- deposits: includes credit union share accounts. 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
Unless otherwise prohibited by state law, a financial institution may establish the types and terms, including the minimum and maximum amounts that it may accept and the frequency and computation method of paying interest, of deposits that it solicits and accepts. A financial institution may refuse deposits at its pleasure and a financial institution may pledge or hypothecate any of its assets as security for deposits. [PL 1997, c. 398, Pt. I, §12 (NEW).]
SECTION HISTORY
PL 1997, c. 398, §I12 (NEW).