Maine Revised Statutes

§1316. Trust activities

1. Authority.  A foreign bank that has established a Maine branch or Maine agency in accordance with section 1312 may engage in trust activities at that Maine branch or Maine agency upon 30 days' prior notification to the superintendent.
[ 1997, c. 182, Pt. B, §3 (NEW) .]
2. Territorial application.  All trust activities entered into between a foreign bank that has established a Maine branch or Maine agency and persons residing or domiciled in this State or that involve property located in this State are governed by the laws of this State.
[ 1997, c. 182, Pt. B, §3 (NEW) .]
SECTION HISTORY
1997, c. 182, §B3 (NEW).