LD 1534
pg. 2
Page 1 of 20 PUBLIC Law Chapter 322 Page 3 of 20
Download Chapter Text
LR 1922
Item 1

 
23-A. Investor. "Investor" means any person who has an
ownership interest in a financial institution and is entitled to
vote under the institution's organizational documents.
"Investor" does not include a member of a credit union organized
pursuant to the laws of this State.

 
Sec. 4. 9-B MRSA §131, sub-§35, as amended by PL 1999, c. 229, §1, is
further amended to read:

 
35. Satellite facility. "Satellite facility" means any
facility, automated device or electronic terminal established by
a financial institution authorized to do business in this State
or a credit union authorized to do business in this State at
which an existing financial institution or credit union customer
may initiate banking transactions, including, but not limited to,
cash deposits to and withdrawals from that customer's account,
cash advances on a preauthorized credit line, transfers between
deposit or share accounts or payment transfers from the
customer's account to accounts of other financial institution or
credit union customers. Such a facility is not permanently
staffed and is not part of a main office or branch office of a
financial institution or credit union. Such a facility may be
part of an electronic funds transfer system. Satellite
facilities include facilities engaged in soliciting, receiving or
accepting money or its equivalent on deposit from new and
existing customers. The term "satellite facility" "Satellite
facility" does not include a cash dispensing machine that,
operating in conjunction with a processor and network, allows a
customer to debit an account in exchange for dispensing cash and
that may allow a customer to effectuate transfers between the
customer's accounts in the same financial institution or credit
union, a point-of-sale terminal, a night depository or an office
or facility engaged solely in the solicitation and origination of
loans.

 
Sec. 5. 9-B MRSA §131, sub-§37-A is enacted to read:

 
37-A.__Share account.__"Share account" means a share or
deposit account at a credit union held by or offered to a member
or potential member.__"Share account" includes, but is not
limited to, accounts such as share, share draft and term share
accounts.__"Share account" also includes a share or deposit
account held by or offered to a nonmember in a community
development credit union.

 
Sec. 6. 9-B MRSA §214, sub-§2, as amended by PL 1993, c. 538, §1, is
further amended to read:

 
2. Assessment on financial institutions.


Page 1 of 20 Top of Page Page 3 of 20
Related Pages
  Search Bill Text Legislative Information
Bill Directory Search
Bill
Status
Session Information
119th Legislature Bills Maine Legislature

Office of Legislative Information
100 State House Station
Augusta, ME 04333
voice: (207) 287-1692
fax: (207) 287-1580
tty: (207) 287-6826
Word Viewer for Windows Disclaimer