Maine § 20-A §6911 General conditions; dissolution

Maine Statutes

§ 20-A §6911 — General conditions; dissolution

Maine·Title 20-A EDUCATION·Part 3 ELEMENTARY AND SECONDARY EDUCATION·Ch. 226 JOBS FOR MAINE'S GRADUATES

The Jobs for Maine's Graduates shall operate as a nonprofit organization consistent with its composition and broad public purposes. The following conditions apply to the operation or dissolution of the corporation.

1.Net earnings. No part of the net earnings of the corporation may inure to the benefit of any officer, director or employee except that the corporation may pay reasonable compensation for services rendered and otherwise hold, manage and dispose of its property in furtherance of the purposes of the corporation.

2.Dissolution. Upon dissolution of the corporation, the dissolved corporation shall transfer all unexpended General Fund appropriations to the State before paying or making provision for the payment of all other liabilities.

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The Jobs for Maine's Graduates shall operate as a nonprofit organization consistent with its composition and broad public purposes. The following conditions apply to the operation or dissolution of the corporation.
1.
Net earnings.
No part of the net earnings of the corporation may inure to the benefit of any officer, director or employee except that the corporation may pay reasonable compensation for services rendered and otherwise hold, manage and dispose of its property in furtherance of the purposes of the corporation.
2.
Dissolution.
Upon dissolution of the corporation, the dissolved corporation shall transfer all unexpended General Fund appropriations to the State before paying or making provision for the payment of all other liabilities.

Maine § 20-A §6911 (General conditions; dissolution) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.