Maine Revised Statutes Title 9-B Sec. 1211 – General purpose and authority
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Terms Used In Maine Revised Statutes Title 9-B Sec. 1211
- Fiduciary: A trustee, executor, or administrator.
- 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
- Nondepository trust company: means any financial institution organized under chapter 121 with powers generally limited to trust or fiduciary matters. See Maine Revised Statutes Title 9-B Sec. 131
A nondepository trust company is a financial institution organized under the provisions of this Title whose activities are generally limited to trust or fiduciary matters. Unless otherwise indicated in this chapter or to the extent inconsistent with this chapter or with the general purpose of a nondepository trust company, a nondepository trust company has all the powers, duties and obligations of a financial institution under this Title. [PL 1997, c. 398, Pt. J, §2 (NEW).]
SECTION HISTORY
PL 1997, c. 398, §J2 (NEW).