Sec. 10. 9-B MRSA §225, sub-§1, as enacted by PL 1975, c. 500, §1, is amended to read:

1. Superintendent's authority. All records of financial institutions authorized to do business in this State and of federally-chartered financial institutions credit unions authorized to do business in this State, insofar as this section does not contravene paramount Federal federal law, shall must be retained for such minimum periods as the superintendent may prescribe.

Sec. 11. 9-B MRSA §228, sub-§1, as enacted by PL 1975, c. 500, §1, is amended to read:

1. Requirement. If, in the opinion of the superintendent, any financial institution authorized to do business in this State or credit union authorized to do business in this State, or its the officers, corporators, directors, employees or agents have of any financial institution authorized to do business in this State or credit union authorized to do business in this State, has persistently violated any provision of this Title or regulation promulgated thereunder rule adopted under this Title, the superintendent shall forthwith report the same violation, with such any remarks as he deems the superintendent determines appropriate, to the Attorney General who may forthwith institute a prosecution therefor of the violation on behalf of the State.

Sec. 12. 9-B MRSA §241, sub-§7, as repealed and replaced by PL 1997, c. 660, Pt. D, §2, is amended to read:

7. Restrictions on use of names of Maine financial institutions on credit cards. A credit card may be titled and may have the name of a financial institution authorized to do business in this State or credit union authorized to do business in this State on the card if:

A. The terms of the credit card contract comply with the laws applicable to that financial institution or credit union; or

B. The name and state of the financial institution or credit union underwriting the debt appears on the credit card.