§1316. Trust activities
1. Authority. A foreign bank that has established a Maine branch or Maine agency in accordance with section 1312 may engage in trust activities at that Maine branch or Maine agency upon 30 days' prior notification to the superintendent.
[PL 1997, c. 182, Pt. B, §3 (NEW).]
2. Territorial application. All trust activities entered into between a foreign bank that has established a Maine branch or Maine agency and persons residing or domiciled in this State or that involve property located in this State are governed by the laws of this State.
[PL 1997, c. 182, Pt. B, §3 (NEW).]
SECTION HISTORY
PL 1997, c. 182, §B3 (NEW).
Structure Maine Revised Statutes
TITLE 9-B: FINANCIAL INSTITUTIONS
Chapter 131: FOREIGN BRANCHES, AGENCIES AND REPRESENTATIVE OFFICES
9-B §1312. Branches and agencies of foreign banks
9-B §1313. Federal branches and agencies
9-B §1314. Powers of Maine branches and agencies
9-B §1315. Representative offices
9-B §1318. Deposit requirements; asset requirements
9-B §1319. Record keeping and reporting
9-B §1320. Disclosure of lack of deposit insurance
9-B §1321. Notice of changes in name and location
9-B §1322. Change of control of foreign bank
9-B §1323. Voluntary closure of Maine branch, Maine agency or Maine representative office
9-B §1325. Assessment, examination and enforcement
9-B §1326. Involuntary termination of authority and receivership
9-B §1327. Interstate operations of Maine foreign banks
9-B §1328. Interstate operations of out-of-state foreign banks