Maine Statutes
§ 35-A §6416 — Water districts; mutual funds
Maine § 35-A §6416
This text of Maine § 35-A §6416 (Water districts; mutual funds) 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. 35-A, § 35-A §6416 (2026).
Text
A water district may invest its funds, including sinking funds, reserve funds and trust funds, to the extent that the terms of any instrument creating the funds do not prohibit the investment, in shares of an investment company registered under the federal Investment Company Act of 1940, whose shares are registered under the United States Securities Act of 1933, only if the investments of the investment company are limited to obligations of the United States or any agency or instrumentality, corporate or otherwise, of the United States, or repurchase agreements secured by obligations of the United States or any agency or instrumentality, corporate or otherwise, of the United States. This section is in addition to and does not limit the power of a water district to invest its funds.
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Legislative History
PL 1995, c. 616, §10 (NEW).
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Utility depositsCite This Page — Counsel Stack
Bluebook (online)
Maine § 35-A §6416, Counsel Stack Legal Research, https://law.counselstack.com/statute/me/35-A%20%C2%A76416.