Sec. E-1. 9-B MRSA §§331 and 332, as enacted by PL 1975, c. 500, §1, are amended to read:
§331. Applicability of chapter; statewide branching
1. Applicability. The provisions of this chapter shall govern the establishment of a branch office, or agency or facility by a financial institution subject to the laws of this State.
2. Statewide branching. Subject to the conditions and limitations contained in this chapter, a financial institution may establish a branch office or facility anywhere within this State.
1. Approval of governing body. All or any part of the business of a financial institution authorized pursuant to the provisions of this Title may be transacted in a branch or agency office, as defined in section 131 if the board of directors of such institution decides accordingly. The financial institution's governing body is responsible for determining the scope of operations of each branch, including the services to be provided and the days and hours of operation. Customers must be provided reasonable advance notice of reduction in services or hours of operation.
2. Superintendent's approval. No such A financial institution shall may not establish a branch or agency office without prior approval of the superintendent, such. This approval to must be obtained pursuant to section 336, except that a financial institution that meets the minimum standards set forth in section 412-A or 832 and any rules adopted pursuant to these sections and is not under an enforcement action that requires the superintendent's prior approval of a branch establishment may establish a branch in this State without the prior approval of the superintendent. If the superintendent's approval is not required, then the financial institution shall inform the superintendent at least 10 days prior to the proposed action. This announcement must be accompanied by a recording fee not to exceed $100.
3. Bonded carrier. The use of a financial institution employee or a bonded carrier to transport deposits to a financial institution, whether paid for by the customer or the financial institution, may not be construed as the establishment or operation of a branch. In the event a bonded carrier is used to transport deposits to a financial institution, the messenger must be considered the agent of the customer rather than of the financial institution. Deposits collected under this arrangement are not considered to have been received by the financial institution until they are actually delivered to a teller at the financial institution's premises.
Sec. E-2. 9-B MRSA §333, as amended by PL 1993, c. 492, §3, is repealed.
Sec. E-3. 9-B MRSA §334, as amended by PL 1997, c. 22, §§2 to 5, is further amended to read:
1. Superintendent's approval. A financial institution or a service corporation wholly owned by one or more financial institutions may establish or participate in the use of, relocate or close a satellite or off-premise facility, as defined in section 131, without the prior approval of or notification to the superintendent. A financial institution or service corporation may not establish a satellite facility without prior notice to the superintendent, pursuant to this section.
2. Manned or unmanned facility permitted. A satellite facility may be unmanned and operated by the customer himself. Such a facility may be located in the premises of an establishment that is not a financial institution and may be manned by an employee of such establishment.
3. Ownership. Such a facility may be wholly or partly owned by the institution; or may be owned by 2 or more such financial institutions.
4. Use of established facilities by additional institutions. A satellite facility established under this chapter 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 designate that facility as accepting cash deposits for its customers only 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. If the name of the sponsoring financial institution is displayed, it must be equal in prominence to the name of the network system or logo.
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. Only one ancillary or extended facility is permitted at each 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.
6. Notification required. A financial institution shall notify the superintendent at least 10 days before the establishment, moving or closing of a satellite facility. The notification must be filed in the form and manner and containing information prescribed by the superintendent. A financial institution participating in the use or discontinuing the use of a network system must provide notice to the superintendent in the form and manner and containing the information required by the superintendent.
Sec. E-4. 9-B MRSA §335, as enacted by PL 1975, c. 500, §1, is amended to read:
§335. Change of office location; closing of an office
1. Relocation. No A main office, branch or agency office or facility of a financial institution may not be moved to a new location without the prior written approval of the superintendent, pursuant to section 336, except that a financial institution that meets the minimum standards set forth in section 412-A or 832 and any rules adopted pursuant to these sections and is not under an enforcement action that requires the superintendent's prior approval of a branch relocation, may relocate a main office or branch in this State without the prior approval of the superintendent. If the superintendent's approval is not required, then the financial institution must inform the superintendent at least 10 days prior to the proposed action. This announcement must be accompanied by a recording fee not to exceed $100.
2. Closing. Any branch or agency office or facility may be closed or discontinued with the prior written approval of the superintendent pursuant to section 336 after such public notice of the closing as the superintendent deems considers necessary.
Sec. E-5. 9-B MRSA §336, sub-§1, as amended by PL 1997, c. 22, §6, is further amended to read:
1. Notification required; application upon request. At If the superintendent's approval is required pursuant to section 332, subsection 2 or section 335, subsection 1, at least 30 days prior to the relocation of a main office or the establishment, moving or closing of a branch or agency office authorized by this chapter, the institution shall notify the superintendent of the proposed action. A complete application for the branch establishment, moving or closing may be required only when the superintendent or any interested person requests that a complete application be filed within 30 days of notice. Within 30 days of the notice, any interested person may request that the superintendent require a complete application. If the superintendent denies any interested person's request for a complete application, the denial must be in writing with the reasons for denial. The notification, or the application if requested, must be filed with the superintendent in the form and manner and containing information as the superintendent may prescribe. If no application is requested within the 30-day period, the change is deemed approved. A fee must accompany the notification in an amount established by the superintendent but not to exceed 1/2 of the application fee.
Sec. E-6. 9-B MRSA §336, sub-§4, as enacted by PL 1975, c. 500, §1, is amended to read:
4. Decision-making criteria. The superintendent shall approve or disapprove an application under this chapter in accordance with the requirements of section 252 and any rules adopted under section 252; and the superintendent may condition approval of such application, as necessary, to conform with the criteria as set forth in section 253.
Sec. E-7. 9-B MRSA §336, sub-§6, as amended by PL 1997, c. 22, §8, is further amended to read:
6. Notice of opening. Within 5 days after an approved a branch office approved pursuant to subsection 1 has opened for business, a certificate of opening signed by the president and the clerk or secretary of the institution must be filed with the financial institution shall inform the superintendent in writing of the exact date of opening.
Sec. E-8. 9-B MRSA §337, sub-§2, as amended by PL 1979, c. 429, §7, is further amended to read:
2. Limitations. Real estate, furniture, fixtures, equipment and capitalized leases, combined, made invested in pursuant to subsection 1 shall may not exceed 60% of its the total capital and reserves in the case of an institution organized pursuant to chapter 31, or 60% of its surplus account in the case of an institution organized pursuant to chapter 32; provided that the. The superintendent may approve in writing, upon application by an institution and for good cause shown, a greater percentage.
Sec. E-9. 9-B MRSA §338, sub-§1, as enacted by PL 1975, c. 500, §1, is amended to read:
1. Permissible operating hours. A financial institution authorized to do business in the State may permit any of its branch offices, facilities, or walk-up or drive-up windows of its main office or branch offices to remain open, or open for limited functions only, during such hours as it may determine from time to time, after its main office is closed. Any hours in which said branch office, facility, or walk-up or drive-up window of its main office or branch office is open for limited functions only after its main office is closed shall be are, with respect to such institution, a holiday and not a business day.
Sec. E-10. 9-B MRSA §339, as amended by PL 1993, c. 492, §4, is repealed.
Sec. E-11. 9-B MRSA §339-A, sub-§2, as repealed and replaced by PL 1995, c. 628, §19, is amended to read:
2. Satellite facilities. Satellite facilities operated by financial institutions not authorized to do business in this State are prohibited according to this section. A financial institution organized pursuant to the laws of this State must provide notice to the superintendent in accordance with chapter 33 prior to the establishment of a satellite facility. A financial institution organized pursuant to laws of other states or the United States and authorized to do the business of banking in this State must provide notice to the superintendent in accordance with chapter 37 prior to the establishment of a satellite facility.
| Revisor of Statutes Homepage | Subject Index | Search | Laws of Maine | Maine Legislature |
