Maine Revised Statutes Title 9-B Sec. 413 – Borrowing
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A financial institution may borrow money on such terms and conditions as it may determine, issue its notes, bonds and other obligations and secure any of its obligations by mortgage, pledge or other encumbrance of all or any part of its property. [PL 1997, c. 398, Pt. I, §4 (AMD).]
1. Capital notes or debentures.
[PL 1997, c. 398, Pt. I, §5 (RP).]
Terms Used In Maine Revised Statutes Title 9-B Sec. 413
- capital: means the sum of common stock, paid-in common stock surplus, perpetual preferred stock, undivided profits and other capital reserves; [PL 1997, c. 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
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
2. Mortgage-backed securities.
[PL 1997, c. 398, Pt. I, §6 (RP).]
SECTION HISTORY
PL 1975, c. 500, §1 (NEW). PL 1975, c. 666, §19 (AMD). PL 1997, c. 22, §11 (AMD). PL 1997, c. 398, §§I4-6 (AMD).