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66 chapters · 278 sections in this title.
9-B M.R.S. § 911 Definition
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"Industrial bank" means a corporation organized under Title 9, Part 5 as repealed on October 1, 1975 and which was, on or before June 1, 1967, making loans and selling certificates of investment, either of fixed or uncertain term, and receiving payments in installments or otherwi…
9-B M.R.S. § 912 Capital and management
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1. Stock: classes; par value. The capital stock of an industrial bank shall have a par value $100 for each share, and only one class of such stock shall be created. 2. Management. Except as otherwise provided in this chapter, the management and operations of an industrial bank mu…
9-B M.R.S. § 913 Powers
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In addition to the powers conferred upon corporations by the general corporations law of this State, an industrial bank shall have the power to: [PL 1975, c. 500, §1 (NEW).] 1. Borrow and lend. Borrow and to lend money, and discount notes and bills of exchange including trade acc…
9-B M.R.S. § 914 Insurance of certificates of investment
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Every industrial bank shall comply with the requirements of section 422, relating to insurance of deposits, and shall be deemed a "financial institution" for purposes of that section.