Section 1316 - Trust activities1.Authority. A foreign bank that has established a Maine branch or Maine agency in accordance with section 1312 may engage in trust activities at that Maine branch or Maine agency upon 30 days' prior notification to the superintendent. [1997, c. 182, Pt. B, §3(NEW).]
2.Territorial application. All trust activities entered into between a foreign bank that has established a Maine branch or Maine agency and persons residing or domiciled in this State or that involve property located in this State are governed by the laws of this State. [1997, c. 182, Pt. B, §3(NEW).]
1997, c. 182, §B3 (NEW) .