Maine § 20-A §12105 Nonlapsing fund

Maine Statutes

§ 20-A §12105 — Nonlapsing fund

Maine § 20-A §12105

Title 20-AEDUCATION

Part 5POST-SECONDARY EDUCATION

Ch. 424MEDICAL EDUCATION AND RECRUITMENT

This text of Maine § 20-A §12105 (Nonlapsing fund) 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. 20-A, § 20-A §12105 (2026).

Text

1.Fund created. A nonlapsing, interest-earning, revolving fund under the jurisdiction of the authority is created to carry out the purposes of this chapter and chapter 424‑A. The fund may be used only for the following purposes:

2.Separate account authorized. The authority may divide each of the funds under subsection 1 and section 12103‑A, subsection 6 into separate accounts it determines necessary or convenient for implementing this chapter or chapter 424‑A, including, but not limited to, accounts reserved for the purchase of positions and accounts reserved for loans under this chapter or chapter 424‑A and accounts reserved for scholarships under this chapter.

3.Allocation of repayments. The authority may allocate a portion of the annual loan repayments received under section 12104 fo

Free access — add to your briefcase to read the full text and ask questions with AI

1.
Fund created.
A nonlapsing, interest-earning, revolving fund under the jurisdiction of the authority is created to carry out the purposes of this chapter and chapter 424‑A. The fund may be used only for the following purposes:
2.
Separate account authorized.
The authority may divide each of the funds under subsection 1 and section 12103‑A, subsection 6 into separate accounts it determines necessary or convenient for implementing this chapter or chapter 424‑A, including, but not limited to, accounts reserved for the purchase of positions and accounts reserved for loans under this chapter or chapter 424‑A and accounts reserved for scholarships under this chapter.
3.
Allocation of repayments.
The authority may allocate a portion of the annual loan repayments received under section 12104 for the purpose of recruiting primary health care physicians for designated health professional shortage areas and a portion of any loan repayments received under chapter 424‑A for the purpose of recruiting veterinarians to areas of the State with insufficient veterinary services as defined in chapter 424‑A. Those portions may be used:
4.
Borrowing permitted.
The authority may borrow funds pursuant to chapter 417‑B for application to the fund established in subsection 1 and may pledge all or part of the fund or any assets or revenues of the fund in connection with any such borrowing.

Legislative History

PL 1991, c. 830, §4 (NEW). PL 1991, c. 832, §10 (NEW). PL 1993, c. 410, §EEEE3 (AMD). PL 2001, c. 479, §§1-2 (AMD). PL 2009, c. 410, §§5-7 (AMD). PL 2009, c. 488, §§10-12 (AMD).