Maine § 13 §5102 Definitions

Maine Statutes

§ 13 §5102 — Definitions

Maine § 13 §5102

Title 13CORPORATIONS

Part 2CORPORATIONS WITHOUT CAPITAL

Ch. 99UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT

This text of Maine § 13 §5102 (Definitions) 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. 13, § 13 §5102 (2026).

Text

As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings.

1.Charitable purpose. "Charitable purpose" means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose or any other purpose the achievement of which is beneficial to the community.

2.Endowment fund. "Endowment fund" means an institutional fund or part thereof that, under the terms of a gift instrument, is not wholly expendable by the institution on a current basis. "Endowment fund" does not include assets that an institution designates as an endowment fund for its own use.

3.Gift instrument. "Gift instrument" means a record or records, including an institutional solicitation, under which property is

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As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings.
1.
Charitable purpose.
"Charitable purpose" means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose or any other purpose the achievement of which is beneficial to the community.
2.
Endowment fund.
"Endowment fund" means an institutional fund or part thereof that, under the terms of a gift instrument, is not wholly expendable by the institution on a current basis. "Endowment fund" does not include assets that an institution designates as an endowment fund for its own use.
3.
Gift instrument.
"Gift instrument" means a record or records, including an institutional solicitation, under which property is granted to, transferred to or held by an institution as an institutional fund.
4.
Historic dollar value.
"Historic dollar value" means the aggregate value in dollars of:
5.
Institution.
"Institution" means:
6.
Institutional fund.
"Institutional fund" means a fund held by an institution exclusively for charitable purposes. "Institutional fund" does not include:
7.
Person.
"Person" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency or instrumentality or any other legal or commercial entity.
8.
Program-related asset.
"Program-related asset" means an asset held by an institution primarily to accomplish a charitable purpose of the institution and not primarily for investment.
9.
Record.
"Record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.