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STATE OF MAINE

DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION

BUREAU OF FINANCIAL INSTITUTIONS

SUPERINTENDENT’S NOTICE

TO INTERESTED PARTIES

  The Bureau of Financial Institutions issued Regulation 36, Deposit Production Offices, effective February 23, 1997.  Recent law changes have amended the statutes prohibiting the operation of a deposit production office to more closely align them with federal law.  The Bureau of Financial Institutions proposes to amend Chapter 136 (Regulation 36) to implement those changes in statute.  The proposed amended rule provides a de minimis percentage threshold of deposits under which all financial institutions authorized to do business in Maine would be considered to be in compliance with the rule.  The proposed rule reduces the reporting requirements on Maine financial institutions and credit unions by eliminating the annual Branch Loan and Deposit/Share Survey. It is a routine technical rule as defined in Title 5, chapter 375, subchapter II‑A.

  Notice of this proposed Rule is being published by the Secretary of State.  Interested parties may submit written comments or requests for a hearing to the Bureau of Financial Institutions, 36 State House Station, Augusta, Maine 04333-0036 by September 16, 2005.  Electronic comments or requests for a hearing may be submitted by accessing the Internet Home Page of the Bureau of Financial Institutions at http://www.maine.gov/financialinstitutions .

Gardiner, Maine

August 17, 2005

 

Last Updated: June 5, 2013