LD 1534
pg. 7
Page 6 of 22 An Act To Amend the Maine Banking Laws Page 8 of 22
Download Bill Text
LR 1922
Item 1

 
The superintendent may waive all or part of the payments required
under this subsection for good cause shown by a credit union.

 
Sec. 21. 9-B MRSA §832, sub-§5 is enacted to read:

 
5.__Rulemaking.__The superintendent may adopt rules to
implement this section or vary the amount of the fund required
under this section.__Rules adopted pursuant to this subsection
are routine technical rules as defined in Title 5, chapter 375,
subchapter 2-A.

 
Sec. 22. 9-B MRSA §833, sub-§1, as amended by PL 1997, c. 398, Pt. L,
§8, is repealed.

 
Sec. 23. 9-B MRSA §833, sub-§1-A is enacted to read:

 
1-A.__Time for payment of dividends; method.__At such
intervals as the board of directors may authorize and after
provision for the guaranty fund established pursuant to section
832, the board of directors may declare a dividend to be paid at
different rates on different types of shares, at different rates
and maturity dates in the case of share certificates and at
different rates on different types of share draft accounts.__
Dividends credited may be accrued on various types of shares,
share certificates and share draft accounts as authorized by the
board of directors.

 
Sec. 24. 9-B MRSA §833, sub-§2, as enacted by PL 1975, c. 500, §1, is
repealed.

 
Sec. 25. 9-B MRSA §833, sub-§3-A, as enacted by PL 1981, c. 501, §36,
is repealed.

 
Sec. 26. 9-B MRSA §835, as enacted by PL 1975, c. 500, §1, is
repealed.

 
Sec. 27. 9-B MRSA §836, sub-§2, as corrected by RR 1997, c. 2, §37, is
repealed.

 
Sec. 28. 9-B MRSA §836, sub-§3, as enacted by PL 1975, c. 500, §1, is
repealed.

 
Sec. 29. 9-B MRSA §842, sub-§2, ¶B, as enacted by PL 1975, c. 500, §1,
is amended to read:

 
B. To fix from time to time the maximum amount, both
secured and unsecured, which may be loaned to any one
member, except as limited by chapter 85, and to establish a
written loan policy pursuant to section 851, which must be
reviewed and ratified at least annually;


Page 6 of 22 Top of Page Page 8 of 22