3.__Exception.__Prior written approval is not required for a change in the composition of assets that is part of the financial institution's ordinary and ongoing core banking activities.

4.__Rules.__The superintendent may adopt rules further defining a fundamental change in asset composition and setting forth the factors to consider in determining what constitutes a fundamental change in assets.__Rules adopted pursuant to this subsection are routine technical rules as defined in Title 5, chapter 375, subchapter 2-A.

Sec. 8. 9-B MRSA §1213-A is enacted to read:

§1213-A.__Asset pledge

1.__Pledge requirement.__The superintendent may require a nondepository trust company to pledge readily marketable assets to the superintendent if the superintendent believes that circumstances warrant the action.__The pledged assets must be United States dollar denominated, investment grade and subject to the prior written approval of the superintendent.__The pledged assets must be held on deposit or in safekeeping by an FDIC- insured depository institution approved by the superintendent.__ The pledged assets may be released to the superintendent only upon certification that a receiver or conservator of the nondepository trust company has been appointed.__The asset pledge requirement may be lifted by the superintendent if the superintendent determines that the condition of the nondepository trust company so warrants that action.

2.__Amount of pledge.__The aggregate amount of pledged assets is determined by the superintendent but may not exceed the greater of $1,000,000 or 50% of the minimum required capital of the nondepository trust company at the time the asset pledge is imposed.

3.__Pledge agreement.__The asset pledge must be maintained pursuant to an asset pledge agreement in the form and containing any limitations and conditions the superintendent requires.__As long as the nondepository trust company continues business in the ordinary course, the nondepository trust company may be permitted to collect income on the pledged assets and examine and exchange those assets.__The aggregate amount of assets pledged may not be less than required under subsection 2 without the superintendent's approval.