Maine Revised Statutes Title 9-B Sec. 1011 – Definitions
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As used in this chapter, unless the context indicates otherwise, the following terms have the following meanings. [PL 1977, c. 663, §57 (RPR).]
1. Financial institution holding company. “Financial institution holding company” means any company which has control over any financial institution or has control over any company which controls any financial institution.
[PL 1975, c. 500, §1 (NEW).]
Terms Used In Maine Revised Statutes Title 9-B Sec. 1011
- Acquisition of voting shares: includes , without limitation, the acquisition of the voting power of those shares, whether by direct or indirect purchase, by single or multiple transactions or any other means. See Maine Revised Statutes Title 9-B Sec. 1011
- Company: means a corporation, partnership, business trust, association or similar organization organized under the laws of the United States, any political subdivisions of the United States or a country other than the United States. See Maine Revised Statutes Title 9-B Sec. 1011
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- deposits: includes credit union share accounts. See Maine Revised Statutes Title 9-B Sec. 131
- Equity interest: means common stock, preferred stock, members' or partners' interests or any other type of capital instrument that entitles the holder to vote pursuant to the financial institution's organizational documents. See Maine Revised Statutes Title 9-B Sec. 131
- Financial institution: means a universal bank or limited purpose bank organized under the provisions of this Title, and a trust company, nondepository trust company, savings bank, industrial bank or savings and loan association organized under the prior laws of this State. See Maine Revised Statutes Title 9-B Sec. 131
- Financial institution holding company: means any company which has control over any financial institution or has control over any company which controls any financial institution. See Maine Revised Statutes Title 9-B Sec. 1011
- Foreign bank holding company: means any company that controls, directly or indirectly, a foreign bank. See Maine Revised Statutes Title 9-B Sec. 1011
- Home state: means :
A. See Maine Revised Statutes Title 9-B Sec. 131Host state: means a state, other than the home state of an out-of-state financial institution, national bank or federal association, in which the financial institution maintains a branch or seeks to establish and maintain a branch. See Maine Revised Statutes Title 9-B Sec. 131 Maine financial institution: means a financial institution defined in section 131, subsection 17. See Maine Revised Statutes Title 9-B Sec. 1011 Non-Maine financial institution holding company: means a financial institution holding company whose home state is not this State. See Maine Revised Statutes Title 9-B Sec. 1011 Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses. Person: means an individual or individuals acting in concert, including individuals who are citizens of one or more countries, and any colonies, dependencies or possessions of those countries, other than the United States. See Maine Revised Statutes Title 9-B Sec. 1011 Subsidiary: means a corporation, partnership, business trust, association or similar organization, all of which are referred to in this subsection as "another company" owned or controlled by a financial institution or financial institution holding company. See Maine Revised Statutes Title 9-B Sec. 131 Superintendent: means the Superintendent of Financial Institutions. See Maine Revised Statutes Title 9-B Sec. 131 United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72
2. Maine financial institution holding company. “Maine financial institution holding company” means any company whose home state is this State and that has control over any Maine financial institution or has control over a company that controls a Maine financial institution.
[PL 2007, c. 79, §12 (AMD).]
3. Company. “Company” means a corporation, partnership, business trust, association or similar organization organized under the laws of the United States, any political subdivisions of the United States or a country other than the United States.
[PL 1997, c. 182, Pt. A, §4 (AMD).]
4. Control. A company controls another company, referred to in this chapter as a “subsidiary,” if it owns 25% or more of the equity interest of the subsidiary or if under the federal Bank Holding Company Act of 1956, as amended, under the federal Home Owners’ Loan Act, Section 1467A, as amended, or under the Federal Deposit Insurance Act, as amended, or regulations or policy statements issued thereunder, that company is presumed to control the subsidiary or a determination has been made by the superintendent that the company exercises a controlling influence over the management and policies of the subsidiary.
[PL 2001, c. 211, §23 (AMD).]
5. Engagement in activities of subsidiaries. A financial institution holding company shall be deemed to own shares owned by a subsidiary, and to engage in activities engaged in by a subsidiary or by any other company of which it owns 5% or more of the voting shares.
[PL 1975, c. 500, §1 (NEW).]
6. Maine financial institution. “Maine financial institution” means a financial institution defined in section 131, subsection 17.
[PL 2007, c. 79, §13 (AMD).]
7. Non-Maine financial institution holding company. “Non-Maine financial institution holding company” means a financial institution holding company whose home state is not this State.
[PL 1995, c. 628, §27 (AMD).]
8. Principally conducted.
[PL 1995, c. 628, §28 (RP).]
9. Acquisition of voting shares. “Acquisition of voting shares” includes, without limitation, the acquisition of the voting power of those shares, whether by direct or indirect purchase, by single or multiple transactions or any other means.
[PL 1985, c. 642, §4 (NEW).]
10. Person. “Person” means an individual or individuals acting in concert, including individuals who are citizens of one or more countries, and any colonies, dependencies or possessions of those countries, other than the United States.
[PL 1997, c. 182, Pt. A, §5 (AMD).]
11. Home state. “Home state,” with respect to a financial institution holding company, means the state in which the total deposits of all financial institution subsidiaries of that company are the largest on the later of July 1, 1966 or the date on which the company becomes a financial institution holding company under this Title.
[PL 1995, c. 628, §29 (NEW).]
12. Host state. “Host state,” with respect to a financial institution holding company, means a state, other than the home state of the company, in which the company controls or seeks to control a financial institution subsidiary.
[PL 1995, c. 628, §29 (NEW).]
13. Foreign bank holding company. “Foreign bank holding company” means any company that controls, directly or indirectly, a foreign bank.
[PL 1997, c. 182, Pt. A, §6 (NEW).]
SECTION HISTORY
PL 1975, c. 500, §1 (NEW). PL 1975, c. 666, §§31-A (AMD). PL 1979, c. 663, §57 (AMD). PL 1983, c. 302, §1 (AMD). PL 1985, c. 642, §§3,4 (AMD). PL 1991, c. 386, §26 (AMD). PL 1995, c. 628, §§26-29 (AMD). PL 1997, c. 182, §§A4-6 (AMD). PL 2001, c. 211, §23 (AMD). PL 2007, c. 79, §§12, 13 (AMD).