Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
029 - BUREAU OF FINANCIAL INSTITUTIONS
Chapter 127 - MINIMUM CAPITAL STANDARDS
Section 029-127-1 - PURPOSE
Universal Citation: 02 ME Code Rules ยง 029-127-1
Current through 2024-38, September 18, 2024
9-B M.R.S.A.. 412-A requires every financial institution to establish and maintain an adequate level of capital as set forth in rules adopted by the superintendent. The rules must address the composition of capital, minimum capital levels that must be maintained, and procedures that must be followed to restore capital if it falls below minimum standards. The purpose of this regulation is to satisfy the above requirements.
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