Maine Statutes
§ 5 §15305 — Limitation of powers
The institute may not enter into contracts, obligations or commitments of any kind on behalf of the State or any of its agencies, nor does it have the power of eminent domain or any other power not provided to business corporations generally. Bonds, notes and other evidences of indebtedness of the institute may not in any way be a debt or liability of the State or constitute a pledge of the faith and credit of the State. The institute may not expend more than 10% of funds appropriated per biennium by the State for management and related operating costs of the institute.
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Maine § 5 §15305 (Limitation of powers) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
PL 1999, c. 401, §AAA3 (NEW). PL 2013, c. 225, §1 (AMD).
Nearby Sections
15
§ 5 §153
Rules§ 5 §15301
Definitions§ 5 §15302
Maine Technology Institute§ 5 §15302-A
Confidentiality; freedom of access§ 5 §15303
Duties of institute§ 5 §15303-A
Maine Technology Capacity Fund§ 5 §15304
Powers of institute§ 5 §15305
Limitation of powers§ 5 §15308
General conditions; dissolution§ 5 §15309
Liberal construction§ 5 §1531
Definitions§ 5 §15311
Funding for research and development