Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
029 - BUREAU OF FINANCIAL INSTITUTIONS
Chapter 141 - ASSESSMENTS - NONDEPOSITORY TRUST COMPANIES, UNINSURED BANKS, AND MERCHANT BANKS (REG. 41)
Section 029-141-I - AUTHORITY

Universal Citation: 02 ME Code Rules ยง 029-141-I
Current through 2024-38, September 18, 2024

Title 9-B M.R.S. §214(2-B) authorizes the Superintendent of the Bureau of Financial Institutions to define by rule fiduciary assets under management, custody or care and to set the rate of assessment.

Title 9-B M.R.S. §214(2-C) requires an uninsured bank or merchant bank that predominately engages in the business of a nondepository trust company to pay an assessment at the same rate as charged to a nondepository trust company. An uninsured bank or merchant bank that does not predominately engage in the business of a nondepository trust company must pay a quarterly assessment as prescribed in Title 9-B M.R.S. §214(2).

Title 9-B M.R.S. §215 authorizes the Superintendent to promulgate rules relating to the supervision of financial institutions or their subsidiaries.

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