™Your Policy Risk Impact Agent
66 chapters · 278 sections in this title.
9-B M.R.S. § 471 General
0.5K chars
A financial institution may act as trustee, executor, administrator, registrar of stocks and bonds, guardian of estates or in any other fiduciary capacity. Assets held in any fiduciary capacity must be segregated from the general assets of the financial institution and the financ…
9-B M.R.S. § 472 Notice
0.7K chars
A financial institution shall provide the superintendent 60 days' notice prior to conducting trust activities. The superintendent may prescribe the form and content of the notice, including, but not limited to, business plans, financial projections and management. Notice is not r…
9-B M.R.S. § 473 Trust assets
3.1K chars
1. Separation of trust assets. Except as otherwise provided, all securities, money and property received by any financial institution to be held in trust or in any other fiduciary capacity must be kept separate and apart from the other assets of the financial institution. 2. Sepa…
9-B M.R.S. § 474 Bond
0.3K chars
A surety is not necessary on the bond of the financial institution in its capacity as trustee, executor, administrator, conservator, guardian, assignee or receiver, or in any other capacity, unless the court or officer approving the bond requires it.