Maine § 30-A §5802 Trustees

Maine Statutes

§ 30-A §5802 — Trustees

Maine § 30-A §5802

Title 30-AMUNICIPALITIES AND COUNTIES

Part 2MUNICIPALITIES

Ch. 223MUNICIPAL FINANCES

This text of Maine § 30-A §5802 (Trustees) 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. 30-A, § 30-A §5802 (2026).

Text

The municipal officers are trustees of the municipal reserve fund.

1.Fund deposited or invested. They shall deposit or invest the fund according to subchapter III‑A.

2.Purpose of expenditure. An expenditure from any account of the fund may be made only for the specific purpose for which the account was established.

3.Transfer of balance. The balance of any account of a reserve fund may be transferred to another reserve account or to surplus when the purpose for which it was established has been accomplished or abandoned.

4.Use of fund for purpose not provided for. Notwithstanding Title 17‑A, section 4‑A, any municipal official who uses the assets of any account of the reserve fund in any manner or for any purpose other than that provided by the municipality is guilty of a Class C crime

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The municipal officers are trustees of the municipal reserve fund.
1.
Fund deposited or invested.
They shall deposit or invest the fund according to subchapter III‑A.
2.
Purpose of expenditure.
An expenditure from any account of the fund may be made only for the specific purpose for which the account was established.
3.
Transfer of balance.
The balance of any account of a reserve fund may be transferred to another reserve account or to surplus when the purpose for which it was established has been accomplished or abandoned.
4.
Use of fund for purpose not provided for.
Notwithstanding Title 17‑A, section 4‑A, any municipal official who uses the assets of any account of the reserve fund in any manner or for any purpose other than that provided by the municipality is guilty of a Class C crime and shall be punished by a fine of not more than $2,000 or by imprisonment for not more than 2 years.