Maine § 9-B §1015 Applications

Maine Statutes

§ 9-B §1015 — Applications

Maine·Title 9-B FINANCIAL INSTITUTIONS·Part 10 OTHER FINANCIAL ENTITIES·Ch. 101 FINANCIAL INSTITUTION HOLDING COMPANIES

1.Requirements. Except as provided in subsection 5, approval of the superintendent must be obtained for the following actions:

2.Criteria for approval. Applications for approvals required in subsection 1 must be filed pursuant to procedures established by the superintendent. Action on those applications must be taken in accordance with the requirements of section 252 and is subject to the standards set forth in section 253, except that applications for approval under subsection 1, paragraph A are not subject to the standards set forth in section 253, subsection 2, paragraphs C and D. In addition, applications for approvals required in subsection 1 by foreign banks are subject to the following additional criteria:

3.Application fee. An application for approval required in subsection 1 ma

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1.
Requirements.
Except as provided in subsection 5, approval of the superintendent must be obtained for the following actions:
2.
Criteria for approval.
Applications for approvals required in subsection 1 must be filed pursuant to procedures established by the superintendent. Action on those applications must be taken in accordance with the requirements of section 252 and is subject to the standards set forth in section 253, except that applications for approval under subsection 1, paragraph A are not subject to the standards set forth in section 253, subsection 2, paragraphs C and D. In addition, applications for approvals required in subsection 1 by foreign banks are subject to the following additional criteria:
3.
Application fee.
An application for approval required in subsection 1 may not be considered complete by the superintendent unless accompanied by an application fee to be credited and used as provided in section 214. The superintendent shall establish the amount of the fee according to subsection 1; the fee may not exceed $7,500.
4.
Exceptions for permissible activities.
5.
Exceptions for closely related and other activities.
Notwithstanding subsection 1, a Maine financial institution holding company may acquire or establish a subsidiary to engage in any activity and a financial institution holding company controlling a Maine financial institution may acquire or establish a subsidiary in Maine to engage in any activity without the prior approval of the superintendent subject to the following conditions.

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Legislative History

PL 1975, c. 500, §1 (NEW). PL 1983, c. 201, §5 (AMD). PL 1983, c. 302, §§4,5 (AMD). PL 1985, c. 642, §§7,8 (AMD). PL 1987, c. 90, §3 (AMD). PL 1989, c. 16, §§2,3 (AMD). PL 1995, c. 628, §§34,35 (AMD). PL 1997, c. 22, §§25,26 (AMD). PL 1997, c. 182, §§A10-12 (AMD). PL 1997, c. 398, §§K10-12 (AMD). PL 1997, c. 683, §A2 (AMD). PL 1999, c. 218, §27 (AMD). PL 2001, c. 211, §§24,25 (AMD). PL 2007, c. 79, §§20-23 (AMD).