United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 5, § 13120-A: Authority established; purpose, 2001

The Maine Rural Development Authority is created as a public body to make loans and act as lender or investor for certain commercial facility development.

commercial facilitiesinvestmentloansreal estate development

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01

Purpose and legislative effect

“The Maine Rural Development Authority is created as a public body to make loans and act as lender or investor for certain commercial facility development.”

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    Enacted 2001 · 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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Authority established; purpose

The Maine Rural Development Authority is created as a public body to make loans and act as lender or investor for certain commercial facility development.

Section 13120-A

04

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Source record from legislature.maine.gov · Enacted 2001 · Source version 1 Oct 2025

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Provision
§ 13120-AAuthority established; purposeProvision

The Maine Rural Development Authority is created as a public body to make loans and act as lender or investor for certain commercial facility development.

The Maine Rural Development Authority, as established by section 12004‑F, subsection 18 and referred to in this subchapter as the "authority," is a body both corporate and politic and a public instrumentality of the State established for the purpose of providing loans to communities for the development of commercial facilities on a speculative basis and for serving as lender or investor in the acquisition, development, redevelopment and sale of commercial facilities in areas where economic needs are not supported by private investment. The authority may also provide loans to businesses that currently do not own real estate and that are not supported by private investment. [PL 2011, c. 563, §10 (AMD).] The purposes of this subchapter are public and the authority is performing a governmental function in carrying out this subchapter. [PL 2001, c. 703, §6 (NEW).]
Section 13120-AVerify source

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  • 1 Oct 2025 · currentEnglish

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