§1324. Conversions
1. Authority. A foreign bank may convert a Maine representative office to a Maine agency or Maine branch, or convert a Maine agency to a Maine representative office or a Maine branch, or convert a Maine branch to a Maine agency or Maine representative office with the prior approval of the superintendent. A foreign bank may also convert a federal branch or agency to a Maine branch or Maine agency.
[PL 1997, c. 182, Pt. B, §3 (NEW).]
2. Applications. Applications for prior approval of conversions must be processed in accordance with sections 252 and 253 or section 1315 as appropriate.
[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