Maine Revised Statutes Title 9-B Sec. 876 – Acquisitions
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Terms Used In Maine Revised Statutes Title 9-B Sec. 876
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Credit union: means a cooperative, nonprofit corporation organized pursuant to Part 8, or under corresponding provisions of any earlier law, and subject to the conditions and limitations as shall be set forth in Part 8. 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
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
A credit union organized under the laws of this State may acquire all or substantially all the assets of, or assume the liabilities of, any other credit union organized under provisions of the laws of this State, another state or federal laws or any financial institution authorized to do business in this State; provided that such purchase or sale pursuant to this section be executed in accordance with the requirements of section 355 and be subject to the provisions of sections 357 and 358. [PL 2001, c. 211, §22 (AMD).]
SECTION HISTORY
PL 1975, c. 500, §1 (NEW). PL 1975, c. 666, §30 (RPR). PL 2001, c. 211, §22 (AMD).