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Can you summarize 9-B MERS Section 1236?

UNINSURED BANKS > Deposits

Short Summary

An uninsured bank may not engage in retail deposit activities. The superintendent shall define deposit activities that do not constitute retail deposit activities by rule, taking account of the size or nature of depositors and deposit accounts. [PL 1997, c. 398, Pt. J, 2 (NEW).] SECTION HISTORY PL 1997, c. 398, J2 (NEW).

Jurisdiction

Maine

Source
9-B MERS Section 1236 [https://reggi.cloud.regology.com/regulations/US-MERS/US-MERS_T_9-B_P_12_C_123_S_1236]