§331. Applicability of chapter; statewide branching
101 words·~1 min read·
/me/title-9-b-financial-institutions/chapter-33-branches/331·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. Applicability. The provisions of this chapter govern the establishment of a branch office or agency by a financial institution subject to the laws of this State.
[PL 1997, c. 398, Pt. E, §1 (AMD).]
2. Statewide branching. Subject to the conditions and limitations contained in this chapter, a financial institution may establish a branch anywhere within this State, except that a financial institution may not establish a branch within 1.5 miles of any location of an affiliate where the affiliate engages in commercial activity and may not conduct any commercial activity at any branch.
[PL 2007, c. 69, §2 (AMD).]