Maine § 9-B §1326 Involuntary termination of authority and receivership

Maine Statutes

§ 9-B §1326 — Involuntary termination of authority and receivership

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

1.Involuntary termination of authority to operate Maine branch, Maine agency or Maine representative office. The involuntary termination of authority to operate a Maine branch, Maine agency or Maine representative office is governed by the following.

2.Receivership. Whenever the superintendent revokes a foreign bank's authority to operate a Maine branch or Maine agency or whenever any creditor of that foreign bank has obtained a judgment against the foreign bank arising out of a transaction with a branch or agency in any court of record of the United States or any state of the United States and made application, accompanied by a certificate from the clerk of the court stating that that judgment has been rendered and has remained unpaid for a period of 30 days, or whenever the superintend

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1.
Involuntary termination of authority to operate Maine branch, Maine agency or Maine representative office.
The involuntary termination of authority to operate a Maine branch, Maine agency or Maine representative office is governed by the following.
2.
Receivership.
Whenever the superintendent revokes a foreign bank's authority to operate a Maine branch or Maine agency or whenever any creditor of that foreign bank has obtained a judgment against the foreign bank arising out of a transaction with a branch or agency in any court of record of the United States or any state of the United States and made application, accompanied by a certificate from the clerk of the court stating that that judgment has been rendered and has remained unpaid for a period of 30 days, or whenever the superintendent becomes satisfied that that foreign bank is insolvent, the superintendent may, after due consideration of its affairs, appoint a receiver who shall take possession of all the property and assets of that foreign bank in Maine pursuant to provisions of chapter 36.

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