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 D, §10, is repealed.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