Sec. 1. 9-B MRSA §1213, as enacted by PL 1997, c. 398, Pt. J, §2, is amended to read:

§1213. Capital

A nondepository trust company shall maintain minimum capital must have initial paid-in capital in accordance with chapter 31 and shall maintain capital in accordance with section 412-A and any rules adopted under these provisions section 412-A, except the superintendent may provide for a establish different amount capital maintenance requirements for nondepository trust companies by order or rule than those required for other financial institutions organized under this Title.

Sec. 2. 9-B MRSA §1223, sub-§1, as enacted by PL 1997, c. 398, Pt. J, §2, is repealed.

Sec. 3. 9-B MRSA §1223, sub-§2, as enacted by PL 1997, c. 398, Pt. J, §2, is amended to read:

2. Capital. A merchant bank must have initial paid-in capital in accordance with chapter 31 and shall maintain minimum capital in accordance with section 412-A or any rules adopted under that section 412-A. The superintendent may establish different capital maintenance standards for merchant banks than for other financial institutions organized under this Title. The minimum capital maintenance standards for a merchant bank may not be less than a level equal to 150% of the tier 1 risk-based capital and 150% of total risk-based capital established from time to time by the Board of Governors of the Federal Reserve System for a well-capitalized bank.

Sec. 4. 9-B MRSA §1233, as enacted by PL 1997, c. 398, Pt. J, §2, is amended to read:

§1233. Capital

An uninsured bank must have initial paid-in capital in accordance with chapter 31 and shall maintain minimum capital in accordance with section 412-A or rules adopted under section 412- A, except that the superintendent may establish different capital maintenance requirements for uninsured banks than those required for insured financial institutions organized under this Title.