Maine § 9-B §318 Dividends, distributions and withdrawals

Maine Statutes

§ 9-B §318 — Dividends, distributions and withdrawals

Maine § 9-B §318

Title 9-BFINANCIAL INSTITUTIONS

Part 3ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS

Ch. 31ORGANIZATION AND MANAGEMENT OF INVESTOR-OWNED INSTITUTIONS

This text of Maine § 9-B §318 (Dividends, distributions and withdrawals) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 9-B, § 9-B §318 (2026).

Text

1.Limitation. A financial institution organized pursuant to this chapter may not authorize dividends, distributions or withdrawals that reduce capital below the higher of the amount required under the certificate of public convenience and advantage or section 412-A without the prior approval of the superintendent.

2.Form. Dividends, distributions and withdrawals must be in cash or in additional shares, members' interests or partnership interests unless otherwise authorized by the superintendent.

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

1.
Limitation.
A financial institution organized pursuant to this chapter may not authorize dividends, distributions or withdrawals that reduce capital below the higher of the amount required under the certificate of public convenience and advantage or section 412-A without the prior approval of the superintendent.
2.
Form.
Dividends, distributions and withdrawals must be in cash or in additional shares, members' interests or partnership interests unless otherwise authorized by the superintendent.