Maine § 9-B §1324 Conversions

Maine Statutes

§ 9-B §1324 — Conversions

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

1.Authority. A foreign bank may convert a Maine representative office to a Maine agency or Maine branch, or convert a Maine agency to a Maine representative office or a Maine branch, or convert a Maine branch to a Maine agency or Maine representative office with the prior approval of the superintendent. A foreign bank may also convert a federal branch or agency to a Maine branch or Maine agency.

2.Applications. Applications for prior approval of conversions must be processed in accordance with sections 252 and 253 or section 1315 as appropriate.

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1.
Authority.
A foreign bank may convert a Maine representative office to a Maine agency or Maine branch, or convert a Maine agency to a Maine representative office or a Maine branch, or convert a Maine branch to a Maine agency or Maine representative office with the prior approval of the superintendent. A foreign bank may also convert a federal branch or agency to a Maine branch or Maine agency.
2.
Applications.
Applications for prior approval of conversions must be processed in accordance with sections 252 and 253 or section 1315 as appropriate.

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