Maine § 9-B §917 Superintendent's authority

Maine Statutes

§ 9-B §917 — Superintendent's authority

Maine·Title 9-B FINANCIAL INSTITUTIONS·Part 9 INDUSTRIAL BANKS

1.Supervision and examination. An industrial bank authorized to conduct business in this State shall be subject to the provisions of Part 2.

2.Interest rate ceilings. The superintendent shall have the power and authority to establish rate ceilings which shall govern the interest paid by an industrial bank on certificates of investment and other deposit accounts offered by such company. Regulations promulgated by the superintendent establishing such ceilings shall seek to maintain competitive equality among all financial institutions in this State.

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

1.
Supervision and examination.
An industrial bank authorized to conduct business in this State shall be subject to the provisions of Part 2.
2.
Interest rate ceilings.
The superintendent shall have the power and authority to establish rate ceilings which shall govern the interest paid by an industrial bank on certificates of investment and other deposit accounts offered by such company. Regulations promulgated by the superintendent establishing such ceilings shall seek to maintain competitive equality among all financial institutions in this State.

Maine § 9-B §917 (Superintendent's authority) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.