| 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. |
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| | Sec. D-4. 9-B MRSA §327, first ¶, as enacted by PL 1975, c. 500, §1, is | amended to read: |
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| | 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. |
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| | Sec. D-5. 9-B MRSA §327, sub-§3, ¶C, as amended by PL 1979, c. 663, | §38, is further amended to read: |
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| C. The clerk or secretary shall exercise the following | powers. |
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| (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. |
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| (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. |
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| (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. |
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| | Sec. D-6. 13 MRSA §337, as amended by PL 1971, c. 565, §1, is | further amended to read: |
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