Articles of incorporation or amendments to articles of incorporation must have the prior written approval of the superintendent.

Sec. 3. 9-B MRSA §323, sub-§3, as enacted by PL 1975, c. 500, §1, is amended to read:

3. Submission to Secretary of State. Following the meeting required under subsection 2, the directors so elected shall submit an attested copy of the institution's articles of incorporation to the Secretary of State, who shall determine whether such articles satisfy the filing requirements of Title 13-A 13-C. If such filing requirements are met and the superintendent has approved said articles, the Secretary of State shall file the articles of incorporation pursuant to Title 13-A, 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. 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. 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