Maine § 9-B §1018 Exclusion

Maine Statutes

§ 9-B §1018 — Exclusion

Maine § 9-B §1018

Title 9-BFINANCIAL INSTITUTIONS

Part 10OTHER FINANCIAL ENTITIES

Ch. 101FINANCIAL INSTITUTION HOLDING COMPANIES

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Bluebook

Me. Rev. Stat. tit. 9-B, § 9-B §1018 (2026).

Text

The superintendent may exclude financial institution holding companies or other companies from the provisions of this chapter when control of a Maine financial institution arises out of the acquisition of shares in a fiduciary capacity, or in connection with an underwriting of securities or proxy solicitation, or in securing or collecting a debt. When control of a Maine financial institution arises in connection with securing or collecting a debt, the acquiring institution or company may be excluded from the provisions of this chapter if the acquiring institution or company divests the securities within 2 years of acquisition. The superintendent may grant requests for up to 3 one-year extensions.

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The superintendent may exclude financial institution holding companies or other companies from the provisions of this chapter when control of a Maine financial institution arises out of the acquisition of shares in a fiduciary capacity, or in connection with an underwriting of securities or proxy solicitation, or in securing or collecting a debt. When control of a Maine financial institution arises in connection with securing or collecting a debt, the acquiring institution or company may be excluded from the provisions of this chapter if the acquiring institution or company divests the securities within 2 years of acquisition. The superintendent may grant requests for up to 3 one-year extensions.