This legal document, part of the Maine Revised Statutes, governs the definition of business days for financial institutions. It specifies that business days exclude weekends and certain holidays such as New Year’s Day, Martin Luther King Jr. Day, Presidents Day, Patriot’s Day, Memorial Day, Juneteenth, Independence Day, Labor Day, Indigenous Peoples Day, Veterans’ Day, Thanksgiving Day, and Christmas Day. If any of these holidays fall on a Sunday, the following Monday is also not considered a business day.

This legal document governs the requirements and criteria for obtaining approval from the superintendent for various actions related to the acquisition, control, and establishment of financial institutions and financial institution holding companies in Maine. It applies to persons or companies seeking to acquire control of a Maine financial institution, financial institutions, financial institution holding companies, foreign banks, and foreign bank holding companies. The document outlines specific actions that require approval, such as acquisitions of interests in financial institutions, establishment of subsidiaries, and engagement in closely related activities.

This legal document pertains to the corporate existence and powers of mutual holding companies, the reorganization of mutual financial institutions, and the formation of subsidiary universal banks. It specifies that upon the reorganization of a mutual financial institution, the legal existence of the institution continues as a mutual holding company. The mutual holding company must be governed by a board of corporators, who elect a board of directors. The document outlines the powers of a mutual holding company, including the ability to invest in the stock of a financial institution, acquire other financial institutions through merger, and exercise powers granted to mutual financial institutions under state laws.

This legal document governs merchant banks and covers various aspects such as disclosure requirements for loans or investments made by merchant banks, powers and limitations of merchant banks, asset pledge requirements, capital requirements, and organization and operation of merchant banks. Merchant banks are required to disclose the terms of loans or investments in certain situations. Holding companies of merchant banks are exempt from certain provisions unless they control financial institutions other than a merchant bank or a nondepository trust company.

The provided legal document content pertains to uninsured banks and their operations. It outlines various requirements and regulations for uninsured banks in Maine. The document mentions that uninsured banks must maintain reserves in accordance with section 422-A, and the superintendent has the authority to establish additional reserve requirements. The superintendent is also empowered to prescribe rules governing the activities of uninsured banks. The document further discusses the disclosure requirements for uninsured banks to inform depositors that their deposits are not insured by the FDIC.

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 provided legal document content covers various aspects of changing the corporate name and ownership structure of financial institutions in the state of Maine. It outlines the requirements and procedures for changing the name, obtaining approval from investors or mutual voters and the superintendent, and notifying the institution of the superintendent’s decision. The document also governs the conversion of ownership structure for equity financial institutions, outlining the procedure for conversion, approval by the governing body and investors, and the rights of investors not voting for the conversion plan.

This legal document governs the effect of mergers, consolidations, conversions, and acquisitions of financial institutions. It applies to financial institutions that are involved in such transactions. The document states that after the effective date of a merger, consolidation, conversion, or acquisition, the resulting institution may conduct business in accordance with the approved plan. The resulting institution is deemed to be a continuation of the participating or converting institution, and all property, rights, titles, interests, and assets of the participating or converting institution are vested in and continue to be the property of the resulting institution.

This legal document governs the voluntary liquidation of financial institutions. It provides the process for initiating liquidation proceedings when it is deemed inexpedient for the institution to continue its business. The governing body of the financial institution, along with the superintendent, may apply to the Superior Court for liquidation. Alternatively, depositors, members, or investors may file an application with the concurrence of the superintendent. Upon presentation of the application, the court may issue an injunction to restrict further payment of deposits.

The first document governs residential mortgage escrow accounts in Maine, specifying the requirements for establishing and maintaining such accounts, including the payment of dividends or interest to the mortgagor. The second document pertains to the written notice of withdrawal for savings deposits or accounts, allowing financial institutions to require depositors to provide advance notice before withdrawing funds. The third document covers various deposit or account transactions in financial institutions, including minor’s deposits, fiduciary deposits, joint deposits, and power of attorney over deposits.