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66 chapters · 278 sections in this title.
9-B M.R.S. § 831 Share capital and surplus
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1. Amount and par value of share capital. A. The capital of a credit union shall be unlimited in amount and shall consist of shares which may be subscribed to and paid for in such manner as the bylaws may prescribe. [PL 1975, c. 500, §1 (NEW).] B. The par value of such shares may…
9-B M.R.S. § 833 Dividends and interest
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1. Time for payment; method. 1-A. Time for payment of dividends; method. At such intervals as the board of directors may authorize and after the credit union establishes and maintains adequate levels of net worth pursuant to section 831, the board of directors may declare a divid…
9-B M.R.S. § 834 Fiscal year
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The fiscal year of a credit union shall end as of the close of business on the last business day of December.
9-B M.R.S. § 836 Insurance of shares
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1. Requirement. Every credit union authorized to do business in this State shall insure shares with the National Credit Union Administration or the successor to such federal agency. 2. Transition period. 3. Failure to obtain insurance. 4. Applicable law. A credit union insured pu…