Maine Revised Statutes Title 9-B Sec. 1016 – Reports and examinations
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Terms Used In Maine Revised Statutes Title 9-B Sec. 1016
- 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
- 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
- Maine financial institution: means a financial institution defined in section 131, subsection 17. 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
The superintendent may require any financial institution holding company that controls a Maine financial institution to furnish such reports as the superintendent considers appropriate to the proper supervision of such companies. Unless the superintendent determines otherwise, reports prepared for Federal authorities or, in the case of a foreign bank or foreign bank holding company, reports prepared for the home country regulatory authorities and translated to English may be submitted by such holding company in satisfaction of the requirements of this section. If such information and reports are inadequate in the superintendent’s judgment for that purpose, the superintendent may examine such financial institution holding company and any subsidiary doing business in Maine. Section 214 applies with respect to any such examination. [PL 1997, c. 182, Pt. A, §13 (AMD).]
SECTION HISTORY
PL 1975, c. 500, §1 (NEW). PL 1997, c. 182, §A13 (AMD).