Maine § 9-B §332 Branch offices

Maine Statutes

§ 9-B §332 — Branch offices

Maine·Title 9-B FINANCIAL INSTITUTIONS·Part 3 ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS·Ch. 33 BRANCHES

1.Approval of governing body. All or any part of the business of a financial institution authorized pursuant to the provisions of this Title may be transacted in a branch or agency office. The financial institution's governing body is responsible for determining the scope of operations of each branch, including the services to be provided and the days and hours of operation. Customers must be provided reasonable advance notice of reduction in services or hours of operation.

2.Superintendent's approval. 2-A. Superintendent's approval. A financial institution may not establish a branch or agency office without the prior approval of the superintendent.

3.Bonded carrier. The use of a financial institution employee or a bonded carrier to transport deposits to a financial institution, whether

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1.
Approval of governing body.
All or any part of the business of a financial institution authorized pursuant to the provisions of this Title may be transacted in a branch or agency office. The financial institution's governing body is responsible for determining the scope of operations of each branch, including the services to be provided and the days and hours of operation. Customers must be provided reasonable advance notice of reduction in services or hours of operation.
2.
Superintendent's approval.
2-A.
Superintendent's approval.
A financial institution may not establish a branch or agency office without the prior approval of the superintendent.
3.
Bonded carrier.
The use of a financial institution employee or a bonded carrier to transport deposits to a financial institution, whether paid for by the customer or the financial institution, may not be construed as the establishment or operation of a branch. In the event a bonded carrier is used to transport deposits to a financial institution, the messenger must be considered the agent of the customer rather than of the financial institution. Deposits collected under this arrangement are not considered to have been received by the financial institution until they are actually delivered to a teller at the financial institution's premises.

Maine § 9-B §332 (Branch offices) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.