Maine § 5 §15306 Liability of officers, directors and employees

Maine Statutes

§ 5 §15306 — Liability of officers, directors and employees

Maine § 5 §15306

Title 5ADMINISTRATIVE PROCEDURES AND SERVICES

Part 19RESEARCH AND DEVELOPMENT

This text of Maine § 5 §15306 (Liability of officers, directors and employees) 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. 5, § 5 §15306 (2026).

Text

All officers, directors, employees and other agents of the institute entrusted with the custody of the securities of the institute or authorized to disburse the funds of the institute must be bonded either by a blanket bond or by individual bonds with a minimum limitation of $100,000 coverage for each person covered by the bond or bonds, or equivalent fiduciary liability insurance, conditioned upon the faithful performance of their duties. The premiums for the bond or bonds must be paid out of the assets of the institute.

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

All officers, directors, employees and other agents of the institute entrusted with the custody of the securities of the institute or authorized to disburse the funds of the institute must be bonded either by a blanket bond or by individual bonds with a minimum limitation of $100,000 coverage for each person covered by the bond or bonds, or equivalent fiduciary liability insurance, conditioned upon the faithful performance of their duties. The premiums for the bond or bonds must be paid out of the assets of the institute.