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Can you summarize 9-B MERS Part 3, Chapter 33?
ORGANIZATION AND STRUCTURE OF FINANCIAL INSTITUTIONS > BRANCHES
Short Summary
The provided legal document content covers various aspects related to the organization and structure of financial institutions in the State of Maine. It includes regulations regarding the operating hours of branch offices, facilities, and walk-up or drive-up windows, as well as the establishment of interstate branches and satellite facilities. The document also addresses the investment in real estate by financial institutions, specifying the allowable investment limits. Additionally, it governs the relocation and closing of main offices, branches, and agency offices, requiring prior approval from the superintendent in most cases. The document further outlines the approval powers of the superintendent for the relocation, establishment, moving, or closing of branch or agency offices. It emphasizes the responsibility of the governing body of financial institutions in determining the scope of operations for each branch, including services provided and hours of operation. The document also provides guidelines for the establishment, relocation, and closure of satellite or off-premise facilities, allowing financial institutions to establish such facilities without prior approval or notification. However, it mandates that satellite facilities owned or operated by financial institutions must be made available for use by other authorized financial institutions. Lastly, the document governs the establishment of branch offices or agencies by financial institutions subject to the laws of Maine, with certain restrictions on proximity to affiliates engaging in commercial activity and conducting commercial activity at branches. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
Financial institutions authorized to do business in the State of Maine
What does it govern?
Operating hours of branch offices, facilities, and walk-up or drive-up windows of financial institutions; establishment of interstate branches and satellite facilities; investment in real estate by financial institutions; relocation and closing of main offices, branches, and agency offices; approval powers of the superintendent for relocation, establishment, moving, or closing of branch or agency offices; establishment and operation of branch offices for financial institutions; establishment, relocation, and closure of satellite or off-premise facilities by financial institutions; establishment of a branch office or agency by financial institutions subject to the laws of Maine
What are exemptions?
No specific exemptions are mentioned
What are the Penalties?
No specific penalties are mentioned
Jurisdiction
Maine