™Your Policy Risk Impact Agent
66 chapters · 278 sections in this title.
9-B M.R.S. § 1051 Purpose
0.1K chars
This chapter authorizes mutual financial institutions to reorganize into mutual holding companies.
9-B M.R.S. § 1052 Definitions
0.6K chars
As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1985, c. 558 (NEW).] 1. Mutual financial institution. "Mutual financial institution" means any institution as defined in section 131, subsection 27. 2. Mutual hol…
9-B M.R.S. § 1053 Formation of mutual holding company
4.3K chars
1. Reorganization. Notwithstanding any other provision of law, a mutual financial institution may reorganize so as to become a mutual holding company by: A. Chartering, pursuant to chapter 31, a subsidiary universal bank; and [PL 2009, c. 228, §11 (AMD).] B. Transferring a substa…
9-B M.R.S. § 1054 Corporate existence and powers
2.6K chars
1. Legal existence. Upon the reorganization of a mutual financial institution pursuant to this chapter, the legal existence of the mutual financial institution shall not terminate, but shall continue, not as a deposit-taking institution, but as a mutual holding company. 2. Govern…