Maine § 9-B §1223 Capital

Maine Statutes

§ 9-B §1223 — Capital

Maine·Title 9-B FINANCIAL INSTITUTIONS·Part 12 SPECIALTY OR LIMITED PURPOSE FINANCIAL INSTITUTIONS·Ch. 122 MERCHANT BANKS

1.Initial capital.

2.Capital. A merchant bank must have initial paid-in capital in accordance with chapter 31 and shall maintain minimum capital in accordance with section 412-A or any rules adopted under section 412-A. The superintendent may establish different capital maintenance standards for merchant banks than for other financial institutions organized under this Title. The minimum capital maintenance standards for a merchant bank may not be less than a level equal to 150% of the tier 1 risk-based capital and 150% of total risk-based capital established from time to time by the Board of Governors of the Federal Reserve System for a well-capitalized bank.

Free access — add to your briefcase to read the full text and ask questions with AI

1.
Initial capital.
2.
Capital.
A merchant bank must have initial paid-in capital in accordance with chapter 31 and shall maintain minimum capital in accordance with section 412-A or any rules adopted under section 412-A. The superintendent may establish different capital maintenance standards for merchant banks than for other financial institutions organized under this Title. The minimum capital maintenance standards for a merchant bank may not be less than a level equal to 150% of the tier 1 risk-based capital and 150% of total risk-based capital established from time to time by the Board of Governors of the Federal Reserve System for a well-capitalized bank.

Maine § 9-B §1223 (Capital) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.