Resources
Experience

Establishment of Non-Depository Trust for National Company

Verrill served as special counsel to a national firm in the chartering and licensing of a Maine non-depository trust company as the client’s wholly-owned subsidiary. Non-depository trust companies are highly regulated, and the matter involved a complex application process and close work with state regulatory authorities. Establishing the new company also required navigating the federal Dodd-Frank Act, which included ambiguous language that might have prohibited non-depository trust companies. To solve the ambiguity, Verrill worked with members of the US Senate to include a floor colloquy addressing the matter. After nearly a year,, Verrill and the client were able to efficiently establish and license the new nondepository trust company, as well as license the company for operations in the jurisdiction of its principal office.

Firm Highlights

Matter

Solar Energy: Acquisition of Grid-Scale Project in Brunswick, Maine

Verrill represented Diversified Communications in the acquisition of a newly built $2.5 million solar array in Brunswick, Maine. The array, which was developed by ReVision Energy and went online in January 2018, will provide...

Matter

Heating Oil and HVAC Systems Acquisitions

Publication/Podcast

Will Your Startup Require Significant Outside Capital? Consider C Corp!

On February 21, Maine Venture Fund published an article authored by business and corporate attorney Gregory Fryer, "Will Your Startup Require Significant Outside Capital? Consider C Corp!" Greg touches on the reason for choosing...

Matter

Online Education Services Provider Acquisition

Matter

Allagash becomes Maine’s First Benefit Corporation

Publication/Podcast

Seeking Foreign Investments? New Law Says You May Have to Wait

Unbeknownst to many, a wrench has been thrown into the funding plans of many U.S. startups and other growing U.S. companies by virtue of President Trump's enactment of the Foreign Investment Risk Review Modernization...

Publication/Podcast

Developing Opportunities: The Ins and Outs of New Opportunity Zones and their Tax Benefits

8,700 areas were certified by the Treasury to participate in the Qualified Opportunity Zone program adopted under the Tax Cuts and Jobs Act of 2017. Businesses, investors, construction companies, and developers alike might be...

Publication/Podcast

Is a Benefit Corporation Right for You?

News

61 Verrill Attorneys Honored as Best Lawyers, 12 as Lawyers of the Year

(September 3, 2019) – More than 60 Verrill attorneys were once again recognized as "Best Lawyers" by Best Lawyers® 2020 . In addition, 12 attorneys from the firm were named "Lawyer of the Year,"...

Matter

Helping Non-Depository Trust Companies Do Business in Other States

Verrill has helped to form more non-depository trust companies in Maine than any other law firm. We have also helped our trust clients when they look to expand their business into other states. In...