| Be it enacted by the People of the State of Maine as follows: |
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| | Sec. 1. 9-B MRSA §1213, as enacted by PL 1997, c. 398, Pt. J, §2, | is amended to read: |
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| | A nondepository trust company shall maintain minimum capital | must have initial paid-in capital in accordance with chapter 31 | and shall maintain capital in accordance with section 412-A and | any rules adopted under these provisions section 412-A, except | the superintendent may provide for a establish different amount | capital maintenance requirements for nondepository trust | companies by order or rule than those required for other | financial institutions organized under this Title. |
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| | Sec. 2. 9-B MRSA §1223, sub-§1, as enacted by PL 1997, c. 398, Pt. J, | §2, is repealed. |
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| | Sec. 3. 9-B MRSA §1223, sub-§2, as enacted by PL 1997, c. 398, Pt. J, | §2, is amended to read: |
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| | 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 that 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. |
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| | Sec. 4. 9-B MRSA §1233, as enacted by PL 1997, c. 398, Pt. J, §2, | is amended to read: |
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| | An uninsured bank must have initial paid-in capital in | accordance with chapter 31 and shall maintain minimum capital in | accordance with section 412-A or rules adopted under section 412- | A, except that the superintendent may establish different capital | maintenance requirements for uninsured banks than those required | for insured financial institutions organized under this Title. |
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