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2011 Maine Revised Statutes
TITLE 9-B: FINANCIAL INSTITUTIONS
Chapter 122: MERCHANT BANKS
9-B §1223. Capital

Universal Citation:
9-B ME Rev Stat § 1223 (2011 through 125th Legis)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

Part 12: SPECIALTY OR LIMITED PURPOSE FINANCIAL INSTITUTIONS

§1223. Capital

1. Initial capital.

[ 1999, c. 539, §2 (RP) .]

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 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.

[ 1999, c. 539, §3 (AMD) .]

SECTION HISTORY

1997, c. 398, §J2 (NEW). 1999, c. 539, §§2,3 (AMD).

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