Maine § 9-B §325 Corporators and members

Maine Statutes

§ 9-B §325 — Corporators and members

Maine·Title 9-B FINANCIAL INSTITUTIONS·Part 3 ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS·Ch. 32 ORGANIZATION AND MANAGEMENT OF MUTUAL AND COOPERATIVE FINANCIAL INSTITUTIONS

1.Corporators of mutual financial institutions.

2.Members of a cooperative financial institution; qualifications and voting rights.

3.Powers and duties of corporators and members.

4.Articles of incorporation. The corporators or members have the right to amend the institution's articles of incorporation in any manner not inconsistent with this Title, as long as the amendments are submitted to the superintendent for the superintendent's written approval prior to their taking effect.

5.Bylaws. Bylaws may be amended and added to by the corporators or members or directors of the institution except to the extent limited by the articles of incorporation or unless such power has been reserved by the articles of incorporation or granted by the corporators to the board of directors. Amendments

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1.
Corporators of mutual financial institutions.
2.
Members of a cooperative financial institution; qualifications and voting rights.
3.
Powers and duties of corporators and members.
4.
Articles of incorporation.
The corporators or members have the right to amend the institution's articles of incorporation in any manner not inconsistent with this Title, as long as the amendments are submitted to the superintendent for the superintendent's written approval prior to their taking effect.
5.
Bylaws.
Bylaws may be amended and added to by the corporators or members or directors of the institution except to the extent limited by the articles of incorporation or unless such power has been reserved by the articles of incorporation or granted by the corporators to the board of directors. Amendments to the bylaws shall be submitted to the superintendent and shall become effective 10 days after such submission unless the superintendent shall otherwise indicate to the institution.

Maine § 9-B §325 (Corporators and members) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

PL 1975, c. 500, §1 (NEW). PL 1975, c. 666, §§14,15 (AMD). PL 1977, c. 155, §1 (AMD). PL 1997, c. 398, §§D10-12 (AMD). RR 2009, c. 1, §10 (COR). PL 2009, c. 19, §§1, 2 (AMD). PL 2021, c. 188, §§1, 2 (AMD). RR 2025, c. 1, Pt. D, §22 (COR).