Maine § 9-B §1312 Branches and agencies of foreign banks

Maine Statutes

§ 9-B §1312 — Branches and agencies of foreign banks

Maine·Title 9-B FINANCIAL INSTITUTIONS·Part 13 FOREIGN BANKS·Ch. 131 FOREIGN BRANCHES, AGENCIES AND REPRESENTATIVE OFFICES

1.Establishment. A foreign bank that is or will become a Maine foreign bank and engages directly in the banking business outside the United States may, with the prior approval of the superintendent, establish a branch or agency. The establishment of a branch or agency may be de novo or through merger or acquisition.

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. Those applications 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

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1.
Establishment.
A foreign bank that is or will become a Maine foreign bank and engages directly in the banking business outside the United States may, with the prior approval of the superintendent, establish a branch or agency. The establishment of a branch or agency may be de novo or through merger or acquisition.
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. Those applications 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, which may not exceed $7,500.

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