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 029-123-3 - DEFINITIONS
Current through 2024-13, March 27, 2024
For purposes of this regulation, the following terms have the following meanings:
A. "Financial institution" means a financial institution as defined by Title 9-B M.R.S.A. Section131(17) including credit unions organized pursuant to the laws of this state.
B. "Subsidiary" means a subsidiary as defined in Title 9-B M.R.S.A. Section131(39-A).
C. "Insurance agent" has the meaning set forth in Title 24-A M.R.S.A. Section1506, and includes, without limitation, organizations licensed as insurance agents pursuant to Title 24-A M.R.S.A. Section1517.
D. "Insurance broker" has the meaning set forth in Title 24-A M.R.S.A. Section1506, and includes, without limitation, organizations licensed as insurance brokers pursuant to Title 24-A M.R.S.A. Section1517.
E. "Insurance consultant" has the meaning set forth in Title 24-A M.R.S.A. Section1508, and includes, without limitation, organizations licensed as insurance consultants pursuant to Title 24-A M.R.S.A. Section1517.
F. "Retail area" means all space occupied by a financial institution where the "business of banking," as defined in Title 9-B M.R.S.A. Section131(5) may occur.
G. "Regulated institution" means a financial institution as defined by Title 9-B M.R.S.A. Section131(17), a financial institution holding company as defined in Section 1011, and any subsidiary of a financial institution or financial institution holding company.
H. "Insurer" has the meaning set forth in Title 24-A M.R.S.A. §4.
