Maine § 9-B §431-A Loan powers

Maine Statutes

§ 9-B §431-A — Loan powers

Maine § 9-B §431-A

Title 9-BFINANCIAL INSTITUTIONS

Part 4POWERS AND DUTIES OF FINANCIAL INSTITUTIONS

Ch. 43LOANS IN GENERAL

This text of Maine § 9-B §431-A (Loan powers) 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 §431-A (2026).

Text

1.General loan authority. Unless otherwise prohibited by state law, a financial institution may make, sell, purchase, arrange, participate in, invest in or otherwise deal in loans or extensions of credit, as defined in section 439-A, for any purpose.

2.Written loan policy. A financial institution's governing body shall establish a written loan policy, which must be reviewed and ratified at least annually, that addresses at a minimum, the following:

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1.
General loan authority.
Unless otherwise prohibited by state law, a financial institution may make, sell, purchase, arrange, participate in, invest in or otherwise deal in loans or extensions of credit, as defined in section 439-A, for any purpose.
2.
Written loan policy.
A financial institution's governing body shall establish a written loan policy, which must be reviewed and ratified at least annually, that addresses at a minimum, the following: