Maine Statutes
§ 20-A §10957 — Trust funds
Maine·Title 20-A EDUCATION·Part 5 POST-SECONDARY EDUCATION·Ch. 412 BORROWING AUTHORITY FOR THE UNIVERSITY OF MAINE SYSTEM
All money received pursuant to the authority of this chapter shall be deemed to be trust funds, to be held and applied solely as provided in this chapter and in the resolution of the trustees authorizing the financing transaction. Any officer to whom, or any bank, trust company or other fiscal agent or trustee to which that money shall be paid shall act as trustee of that money and shall hold and apply the money for that purpose, subject to such regulations as this chapter and the resolution or trust agreement may provide.
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Maine § 20-A §10957 (Trust funds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
PL 1987, c. 735, §14 (NEW).
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