Maine Statutes
§ 10 §926 — General conditions; dissolution
Maine·Title 10 COMMERCE AND TRADE·Part 2 BUILDING AND DEVELOPMENT·Ch. 107 MAINE DEVELOPMENT FOUNDATION; MAINE ECONOMIC GROWTH COUNCIL
The Maine Development Foundation shall operate as a not-for-profit organization consistent with its composition and broad public purposes. The following conditions shall apply to the operation or dissolution of the foundation.
1.Net earnings of the foundation.
No part of the net earnings of the foundation shall inure to the benefit of any corporator, officer, director or employee except that the foundation shall be authorized and empowered to pay reasonable compensation for services rendered, and otherwise hold, manage and dispose of its property in furtherance of the purposes of the foundation.
2.Dissolution of foundation.
Upon dissolution of the foundation, the corporators shall, after paying or making provision for the payment of all liabilities of the foundation, cause all of the rem
Free access — add to your briefcase to read the full text and ask questions with AI
Maine § 10 §926 (General conditions; dissolution) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
PL 1977, c. 548, §1 (NEW).
Nearby Sections
15
§ 10 §9001
Declaration of purpose§ 10 §9002
Definitions§ 10 §9003
Manufactured Housing Board§ 10 §9004
Employees§ 10 §9005
Rules and regulations§ 10 §9005-A
Powers and duties§ 10 §9006
Installation standards§ 10 §9006-A
Notice of installation§ 10 §9006-B
Formaldehyde emissions; disclosure§ 10 §9006-C
Warranty seals§ 10 §9006-D
Notice of installation§ 10 §9007
Reciprocity§ 10 §9008
Prohibited practices§ 10 §9009
Investigations; suspensions; revocations§ 10 §901
Economic Advisory Committee