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66 chapters · 278 sections in this title.
9-B M.R.S. § 321 Applicability of chapter
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The provisions of this chapter govern the organization and management of financial institutions operating as mutual or cooperative financial institutions.
9-B M.R.S. § 322 Permission to organize
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1. Organizers. Any number of persons, but not less than 20, all of whom must reside in or reside proximate to the geographic area to be served by the institutions, may agree in writing to associate themselves for the purpose of forming a mutual or cooperative financial institutio…
9-B M.R.S. § 323 Organization
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Upon receipt of a certificate of public convenience and advantage and permission to organize pursuant to section 322, the organizers shall comply with the following requirements: [PL 1975, c. 500, §1 (NEW).] 1. Franchise during organization. The organizers set forth in the applic…
9-B M.R.S. § 324 Corporate finance
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1. Initial capital deposits. A. The initial capital deposits required under section 323, subsection 4, for commencing business shall be paid into an account of the institution known as the "capital reserve" account. [PL 1975, c. 500, §1 (NEW).] B. The institution shall record on …