Maine LD720 protects federal home loan banks from certain actions when an insurer member becomes delinquent.
Maine LD720 amends state law to protect federal home loan banks from certain actions when an insurer member becomes delinquent. The bill requires federal home loan banks to repurchase excess capital stock held by an insurer member and provide options to renew or restructure loans. It also limits the ability to enforce rights under certain agreements and avoid transfers of property. The federal home loan bank must release collateral and pay fees owed by the insurer member within specified timeframes.
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