LD 1539
pg. 96
Page 95 of 104 PUBLIC Law Chapter 344 Page 97 of 104
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LR 1942
Item 1

 
chapter 4 13-C, chapter 1, subchapter 2. The filing of the
articles of incorporation by the Secretary of State shall does
not authorize the transaction of business by the financial
institution until all conditions of this section are satisfied.

 
Sec. D-4. 9-B MRSA §327, first ¶, as enacted by PL 1975, c. 500, §1, is
amended to read:

 
Except as provided in this section, the powers and duties of
officers and directors of a financial institution organized under
this chapter shall must be pursuant to Title 13-A 13-C.

 
Sec. D-5. 9-B MRSA §327, sub-§3, ¶C, as amended by PL 1979, c. 663,
§38, is further amended to read:

 
C. The clerk or secretary shall exercise the following
powers.

 
(1) The clerk or secretary shall record or cause to be
recorded the proceedings and actions of all meetings of
the corporators, members or directors, and give or
cause to be given all notices required by law or action
of the directors for which no other provision is made.
If no person is elected to this office, the treasurer,
or in his the treasurer's absence another officer of
the institution designated by the directors, shall must
be ex officio clerk of the institution and of the
directors.

 
(2) Within 30 days after the annual meeting of the board
for election of officers, the clerk shall cause to be
published in a local newspaper of general circulation
in the county where the institution's principal office
is located, or in such other newspapers as the
superintendent may designate, a list of the officers
and directors thereof of the institution. He The clerk
shall return a copy of such the list of officers and
directors to the superintendent within said that 30
days, which shall must be kept on file in the
superintendent's office for public inspection.

 
(3) The clerk or secretary, in the absence of a provision
in the bylaws to the contrary, shall perform the
functions of clerk in accordance with Title 13-A,
section 304 13-C.

 
Sec. D-6. 13 MRSA §337, as amended by PL 1971, c. 565, §1, is
further amended to read:


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