Maine § 9-B §822 Borrowing

Maine Statutes

§ 9-B §822 — Borrowing

Maine § 9-B §822

Title 9-BFINANCIAL INSTITUTIONS

Part 8CREDIT UNIONS

Ch. 82POWERS

This text of Maine § 9-B §822 (Borrowing) 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 §822 (2026).

Text

1.Limitation. A credit union may borrow moneys from any source; provided that its aggregate borrowing shall not exceed 50% of its paid-in share capital and total surplus.

2.Exceeding limitation. Upon making application to and receiving the written approval of the superintendent, a credit union may borrow in excess of the limitation set forth in subsection 1, but not in excess of the amount stated in such approval.

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1.
Limitation.
A credit union may borrow moneys from any source; provided that its aggregate borrowing shall not exceed 50% of its paid-in share capital and total surplus.
2.
Exceeding limitation.
Upon making application to and receiving the written approval of the superintendent, a credit union may borrow in excess of the limitation set forth in subsection 1, but not in excess of the amount stated in such approval.