Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
029 - BUREAU OF FINANCIAL INSTITUTIONS
Chapter 123 - INSURANCE ACTIVITIES IN (Reg. 23) FINANCIAL INSTITUTIONS
Section 029-123-1 - AUTHORITY

Universal Citation: 02 ME Code Rules ยง 029-123-1
Current through 2024-13, March 27, 2024

Title 9-B M.R.S.A. Section111 declares that it is a policy of the state to supervise financial institutions in a manner to assure their strength, stability and efficiency and encourage the development and expansion of financial services advantageous to the public welfare.

Title 9-B M.R.S.A. Section416 grants to the Superintendent the authority to allow by regulation a financial institution to engage in any activity which has been authorized under federal law for financial institutions chartered or otherwise subject to the jurisdiction of the federal government.

Title 9-B M.R.S.A. Section241 gives the Superintendent authority to promulgate rules and regulations defining, limiting, or proscribing acts and practices which are deemed to be anti-competitive, unfair, deceptive, or otherwise injurious to the public interest.

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