1. Subject to Title 13-C. Except as otherwise provided in this chapter, such a mutual trust investment company must be incorporated under and is subject to Title 13?C.

[RR 2001, c. 2, Pt. B, §19 (COR); RR 2001, c. 2, Pt. B, §58 (AFF).]

Terms Used In Maine Revised Statutes Title 9-B Sec. 1023

  • mutual trust investment company: means a corporation which is an investment company as defined by an Act of Congress entitled "Investment Company Act of 1940" as amended; and incorporated in compliance with this chapter to constitute a medium for the common investment of trust funds held in a fiduciary capacity, and for true fiduciary purposes, either alone or with one or more cofiduciaries, by State banks with trust powers, trust companies and national banks with trust powers which are located in this State. See Maine Revised Statutes Title 9-B Sec. 1021
2. Incorporators. The incorporators subscribing to and acknowledging the articles of incorporation shall consist of 5 or more persons who are officers or directors of the banks and trust companies causing such mutual trust investment company to be incorporated.

[PL 1975, c. 500, §1 (NEW).]

SECTION HISTORY

PL 1975, c. 500, §1 (NEW). RR 2001, c. 2, §B19 (COR). RR 2001, c. 2, §B58 (AFF).
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