LD 1534
pg. 6
Page 5 of 20 PUBLIC Law Chapter 322 Page 7 of 20
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LR 1922
Item 1

 
§824. Participation in electronic funds transfer system

 
1. Authorization. A credit union, with the prior written
approval of the superintendent, may issue to its members cards or
other devices permitting such to its members that permit the
members to gain access to or participate in an established
electronic funds transfer system.

 
2. Limitations. The use of such cards or other devices
pursuant to subsection 1 by the members of the credit union shall
be subject to the conditions and limitations set forth in section
853 and 857.

 
Sec. 17. 9-B MRSA §826, as amended by PL 1983, c. 373, §2, is
repealed and the following enacted in its place:

 
§826. Offices and satellite facilities

 
A credit union may establish, relocate, close and operate a
branch or satellite facility in accordance with chapter 33,
except that the limitation of section 337, subsection 2 does not
apply.__The limits of section 863 apply to credit union
investment in real estate for office facilities.__The
establishment, relocation or closing of a branch or facility must
meet the needs and convenience of the credit union's members.

 
Sec. 18. 9-B MRSA §827, sub-§3, as enacted by PL 1995, c. 512, §1, is
amended to read:

 
3. Lien on shares. A credit union may impress and enforce a
lien on the shares and dividends of a member to the extent of any
loan made to and any dues or charges payable by that member. A
credit union that has been designated a community development
credit union pursuant to section 817 may impress and enforce a
lien on the shares and dividends of a nonmember to the extent of
any loan made to and any dues or charges payable by that
nonmember.

 
Sec. 19. 9-B MRSA §831, sub-§2, as amended by PL 1997, c. 108, §11, is
further amended to read:

 
2. Share transactions. The provisions of section sections
422-A, 427, 428 and 429 are applicable to shares or accounts in a
credit union.

 
Sec. 20. 9-B MRSA §832, sub-§2, as amended by PL 1979, c. 663, §54, is
further amended to read:

 
2. Payments to fund. Before the payment of a dividend, there
shall must be set apart into the guaranty fund a percentage


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