Maine Revised Statutes Title 9-B Sec. 474 – Bond
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Terms Used In Maine Revised Statutes Title 9-B Sec. 474
- Executor: A male person named in a will to carry out the decedent
- 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
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Officer: means an employee of a financial institution who has been given managerial or other high-level duties by the governing body of the financial institution. See Maine Revised Statutes Title 9-B Sec. 131
- Trustee: A person or institution holding and administering property in trust.
A surety is not necessary on the bond of the financial institution in its capacity as trustee, executor, administrator, conservator, guardian, assignee or receiver, or in any other capacity, unless the court or officer approving the bond requires it. [PL 1997, c. 398, Pt. I, §41 (NEW).]
SECTION HISTORY
PL 1997, c. 398, §I41 (NEW).