™Your Policy Risk Impact Agent
66 chapters · 278 sections in this title.
9-B M.R.S. § 361 Applicability of chapter
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Notwithstanding any other provisions of law, the provisions of this chapter apply to and supersede any other provision of law governing conservation, liquidation and insolvency of financial institutions organized under the laws of this State.
9-B M.R.S. § 362 Payments restrained to preserve assets or protect depositors
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1. Application to court. Whenever it may become necessary to preserve the assets or protect depositors in a financial institution, the Superior Court may, on application by the superintendent, the governing body of such institution or 3/4 of its depositors, members or investors o…
9-B M.R.S. § 363-A Conservation of assets
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1. Appointment of conservator. Whenever, in the judgment of the superintendent, because of unsafe or unsound practice in conducting the business of a financial institution or other potentially hazardous condition, it is necessary to conserve or revalue the assets of the financial…
9-B M.R.S. § 364 Voluntary liquidation
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1. Application to court. Whenever, in the opinion of the superintendent and a majority of the governing body of any financial institution or in the opinion of 3/4 of its depositors, members or investors or more if required by the institution's organizational documents, it is inex…