§372. Definitions

As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings.   [PL 1995, c. 628, §20 (NEW).]

1.  De novo branch.  "De novo branch" means a branch of a financial institution, out-of-state financial institution, federal association or national bank, that is originally established by the financial institution as a branch and does not become a branch of that financial institution as a result of the acquisition by the financial institution of a financial institution or the acquisition of a branch of a financial institution or through the conversion, merger or consolidation with that institution or branch.

[PL 1995, c. 628, §20 (NEW).]

2.  Interstate branch acquisition.  "Interstate branch acquisition" means the purchase of one or more branches of a financial institution, out-of-state financial institution, federal association or national bank whose home state is different from the home state of the acquiring financial institution, out-of-state financial institution, federal association or national bank and the transfer of any branches so acquired into branches of the acquiring financial institution, out-of-state financial institution, federal association or national bank.

[PL 1995, c. 628, §20 (NEW).]

3.  Interstate combination.  "Interstate combination" means the merger, acquisition or consolidation of financial institutions, out-of-state financial institutions, federal associations or national banks, that have different home states when the branches of the acquired financial institution, out-of-state financial institution, federal association, or national bank become branches of the resulting financial institution, out-of-state financial institution, federal association or national bank.

[PL 1995, c. 628, §20 (NEW).]

SECTION HISTORY

PL 1995, c. 628, §20 (NEW).