Maine § 10 §385 Duties of board

Maine Statutes

§ 10 §385 — Duties of board

Maine § 10 §385

Title 10COMMERCE AND TRADE

Part 1GENERAL PROVISIONS

Ch. 13SMALL ENTERPRISE GROWTH PROGRAM

This text of Maine § 10 §385 (Duties of board) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 10, § 10 §385 (2026).

Text

The board has the following powers and duties.

1.Receipt of money and property. The board may accept and receive gifts, grants, investments, bequests or devises from any source, including funds from the Federal Government or any subdivision of the Federal Government.

2.Administer program. The board must administer the Small Enterprise Growth Program and may contract with the Finance Authority of Maine, financial institutions, educational institutions, business enterprises, nonprofit institutions and organizations or individuals for such assistance in administering the program as the board may require.

3.Ownership interests. The board may hold an ownership interest in a private enterprise when it is determined by the board that such an interest is necessary or desirable in order for the

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The board has the following powers and duties.
1.
Receipt of money and property.
The board may accept and receive gifts, grants, investments, bequests or devises from any source, including funds from the Federal Government or any subdivision of the Federal Government.
2.
Administer program.
The board must administer the Small Enterprise Growth Program and may contract with the Finance Authority of Maine, financial institutions, educational institutions, business enterprises, nonprofit institutions and organizations or individuals for such assistance in administering the program as the board may require.
3.
Ownership interests.
The board may hold an ownership interest in a private enterprise when it is determined by the board that such an interest is necessary or desirable in order for the fund to obtain a reasonable return on its investment in the private enterprise.
4.
Rules.
The board may adopt rules, in accordance with the Maine Administrative Procedure Act, to carry out this chapter.