Maine Banks: Corporators Meetings Notice Requirements

ME BFI Bulletins

Published January 28th, 2026

Detected March 18th, 2026

Summary

The Maine Bureau of Financial Institutions issued Bulletin 84 to clarify notice requirements for corporators meetings for Maine-chartered mutual banks. The bulletin designates newspapers of general circulation in the county of the institution's home office as sufficient for public advertisement of meeting notices.

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What changed

Bulletin 84 from the Maine Bureau of Financial Institutions clarifies the notice requirements for corporators meetings of Maine-chartered mutual banks, as mandated by Title 9-B § 325(3)(C). The bulletin designates that public advertisement of annual or special meeting notices may be published in a newspaper of general circulation in the county where the institution's home office is located, provided all other requirements of the statute, including mailed notice to corporators' last known addresses, are still met.

This guidance provides a specific, simplified option for mutual banks to fulfill their public notice obligations for corporator meetings. While the bulletin itself is informational and not intended to create new legal rights or duties, compliance officers should ensure their bank's meeting notice procedures align with this designated method to satisfy statutory requirements. No new deadlines or penalties are introduced by this bulletin, but adherence to the clarified notice publication method is expected.

What to do next

Review internal procedures for corporator meeting notice publication to ensure alignment with Bulletin 84's designated newspaper publication method.
Confirm that mailed notice to corporators' last known addresses continues to be sent as per statutory requirements.

Source document (simplified)

BUREAU OF FINANCIAL INSTITUTIONS Department of Professional and Financial Regulation State of Maine January 28, 2026 BULLETIN #84 – Meetings of Corporators To the Chief Executive Officer Addressed: Title 9-B § 325(3)(C) requires corporators of a Maine chartered mutual bank to give notice of an annual meeting, or any special meeting, by public advertisement in a newspaper or newspapers of general circulation in the county or counties where each office of the institution is located, or in such other newspapers as the superintendent may designate; provided that corporators shall also be sent notice by mail at their last known address. The purpose of this bulletin is to designate the newspapers that a mutual bank may publish such notice of an annual or special meeting for purposes of 9-B § 325. Pursuant to the authority of the Superintendent, a mutual bank may publish notice of an annual or special meeting in a newspaper of general circulation in the county where that institution’s home office is located. If notice is published in this manner, it need not be published in any additional newspapers. All other requirements in §325(3)(C) still apply. /s/ Lloyd P. LaFountain III Superintendent Note: This bulletin is intended solely for informational purposes. It is not intended to set forth legal rights, duties or privileges nor is it intended to provide legal advice. Readers are encouraged to consult applicable statutes and regulations and to contact the Bureau of Financial Institutions if additional information is needed.