Maine Revised Statutes Title 9-B Sec. 334 – Satellite facilities
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1. Superintendent‘s approval. A financial institution or a service corporation wholly owned by one or more financial institutions may establish, relocate or close a satellite or off-premise facility, as defined in section 131, without the prior approval of or notification to the superintendent.
[PL 1997, c. 398, Pt. E, §3 (AMD).]
Terms Used In Maine Revised Statutes Title 9-B Sec. 334
- Agency: means a branch office of a financial institution at which all or part of the business of the institution is conducted, but the records pertaining to such business are maintained at another office of the institution, and not at such agency office. See Maine Revised Statutes Title 9-B Sec. 131
- Branch: means any office of a financial institution, including a credit union, where the business of banking is conducted other than the institution's main office. See Maine Revised Statutes Title 9-B Sec. 131
- 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
- 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
- Satellite facility: means any facility, automated device or electronic terminal established by a financial institution authorized to do business in this State or a credit union authorized to do business in this State at which an existing financial institution or credit union customer may initiate banking transactions, including, but not limited to, cash deposits to and withdrawals from that customer's account, cash advances on a preauthorized credit line, transfers between deposit or share accounts or payment transfers from the customer's account to accounts of other financial institution or credit union customers. 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
2. Manned or unmanned facility permitted.
[PL 1997, c. 398, Pt. E, §3 (RP).]
3. Ownership.
[PL 1997, c. 398, Pt. E, §3 (RP).]
4. Use of established facilities by additional institutions. A satellite facility owned or operated by a financial institution must be made available for use by other financial institutions authorized to do business in this State, unless the satellite facility is located on the institution’s premises. All financial institutions using the satellite facility must have equal access to the satellite facility, except that a financial institution owning an off-premise facility may restrict the acceptance of deposits at the off-premise facility to its customers only or to customers of financial institutions with which it has an agency agreement pursuant to section 418. For the purposes of this subsection, an off-premise facility is a satellite facility that is not located physically on the premises of a main office or branch or one that is not an extension of or ancillary to an existing main office or branch. When a satellite facility is shared, the identification and promotion of that satellite facility must include the name or logo of the network system and may include the name of the sponsoring financial institution.
A. [PL 1991, c. 386, §2 (RP).]
B. [PL 1991, c. 386, §2 (RP).]
C. [PL 1991, c. 386, §2 (RP).]
D. [PL 1991, c. 386, §2 (RP).]
E. [PL 1991, c. 386, §2 (RP).]
[PL 1997, c. 398, Pt. E, §3 (AMD).]
5. Location of facilities on premises. Nothing may preclude a financial institution from locating an electronic terminal or satellite facility on the premises of its main office or of a branch office for its customers’ convenience. At the discretion of that financial institution, customers of other financial institutions may have access to those on-premise facilities.
An on-premise facility is a facility that is located physically on the premises of a main office or branch or one that is an extension of or ancillary to an existing main office or branch. For purposes of this section, a facility is considered ancillary to or an extension of an existing office if it is situated on the parcel of land on which the branch or main office is located and not across a public way, or within 500 feet, whichever is greater, and not operational from within the confines of another establishment.
[PL 1997, c. 398, Pt. E, §3 (AMD).]
6. Notification required.
[PL 1997, c. 398, Pt. E, §3 (RP).]
SECTION HISTORY
PL 1975, c. 500, §1 (NEW). PL 1981, c. 352, §§3,4 (AMD). PL 1983, c. 614, §1 (AMD). PL 1985, c. 647, §4 (AMD). PL 1991, c. 386, §§1-4 (AMD). PL 1993, c. 139, §1 (AMD). PL 1997, c. 22, §§2-5 (AMD). PL 1997, c. 398, §E3 (AMD).