Public Laws

124th Legislature

First Regular Session

Chapter 19

S.P. 13 - L.D. 4

An Act To Remove the Age Restriction for Serving as a Corporator of a Mutual Financial Institution

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 9-B MRSA 325, sub-1, A, as amended by PL 1997, c. 398, Pt. D, 10, is further amended to read:

A. The persons named in the articles of incorporation constitute the original board of corporators of a mutual financial institution. Membership on this board continues until terminated pursuant to the articles of incorporation or bylaws, by death, resignation or disqualification as provided in this section.

Sec. 2. 9-B MRSA 325, sub-1, B, as amended by PL 1997, c. 398, Pt. D, 10, is repealed.

Effective September 12, 2009

Office of the Revisor of Statutes
State House, Room 108
Augusta, ME 04333