Maine Revised Statutes
Chapter 123: UNINSURED BANKS
9-B §1231. General authority and purpose

§1231. General authority and purpose
A financial institution that does not accept retail deposits and for which insurance of deposits by the FDIC is not required may be organized pursuant to chapter 31. Unless otherwise indicated in this chapter, an uninsured bank has all the powers, rights, duties and obligations as a financial institution under this Title. An uninsured bank is not a nondepository trust company or a merchant bank. [PL 1997, c. 398, Pt. J, §2 (NEW).]
SECTION HISTORY
PL 1997, c. 398, §J2 (NEW).

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Structure Maine Revised Statutes

Maine Revised Statutes

TITLE 9-B: FINANCIAL INSTITUTIONS

Part 12: SPECIALTY OR LIMITED PURPOSE FINANCIAL INSTITUTIONS

Chapter 123: UNINSURED BANKS

9-B §1231. General authority and purpose

9-B §1232. Organization of uninsured banks

9-B §1233. Capital

9-B §1233-A. Asset pledge

9-B §1234. Cash reserves on deposits and accounts

9-B §1235. Lending limits