Maine Revised Statutes Title 9-B Sec. 472 – Notice
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Terms Used In Maine Revised Statutes Title 9-B Sec. 472
- 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
- Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
- Superintendent: means the Superintendent of Financial Institutions. See Maine Revised Statutes Title 9-B Sec. 131
- United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72
A financial institution shall provide the superintendent 60 days’ notice prior to conducting trust activities. The superintendent may prescribe the form and content of the notice, including, but not limited to, business plans, financial projections and management. Notice is not required if trust activities are limited to retirement plans established pursuant to the federal Self-employed Individuals Tax Retirement Act of 1962, Public Law 87-792, 76 Stat. 809, the Employee Retirement Income Security Act of 1974, 29 United States Code §§ 1001–1461 (1997) or other acts if the retirement funds are invested exclusively in the deposit accounts of the financial institution. [PL 1997, c. 398, Pt. I, §41 (NEW).]
SECTION HISTORY
PL 1997, c. 398, §I41 (NEW).