United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 10, § 945-L: General conditions; dissolution, 1995

Source excerpt

asset dispositiondissolutionearnings distributionorganization operations

Jurisdiction: United States — Maine
Structure: 1 provisions
Official identity: Year 1995
Dates: Enacted 1995 · Source version 1 Oct 2025

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Dates: Enacted 1995 · Source version 1 Oct 2025

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“The center must operate as a nonprofit. Its net earnings may not benefit members, officers, directors, or employees, except for reasonable compensation for services and management of property for center purposes. If the center dissolves, the members must transfer unexpended General Fund appropriations to the State befo”

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Enacted 1995 · Source version 1 Oct 2025. The date shown identifies this source expression and should not be treated as proof that no later change exists.
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General conditions; dissolution

Section 945-L

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Source record from legislature.maine.gov · Enacted 1995 · Source version 1 Oct 2025

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§ 945-LGeneral conditions; dissolutionProvision

Source excerpt

The center must operate as a nonprofit. Its net earnings may not benefit members, officers, directors, or employees, except for reasonable compensation for services and management of property for center purposes. If the center dissolves, the members must transfer unexpended General Fund appropriations to the State before paying other liabilities.

The center shall operate as a nonprofit organization consistent with its composition and broad public purposes. The following conditions apply to the operation or dissolution of the center. [PL 1995, c. 648, §5 (NEW).] 1. Net earnings of center. No part of the net earnings of the center may inure to the benefit of any member, officer, director or employee, except that the center may pay reasonable compensation for services rendered and otherwise hold, manage and dispose of its property for the purposes of the center. [PL 1995, c. 648, §5 (NEW).] 2. Dissolution of center. Upon dissolution of the center, the members shall transfer all unexpended General Fund appropriations to the State before paying or making provision for the payment of all other liabilities of the center. [PL 1995, c. 648, §5 (NEW).]

Section 945-LVerify source

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1 Oct 2025 · currentEnglish

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