Maine § 5 §15308 General conditions; dissolution

Maine Statutes

§ 5 §15308 — General conditions; dissolution

Maine § 5 §15308

Title 5ADMINISTRATIVE PROCEDURES AND SERVICES

Part 19RESEARCH AND DEVELOPMENT

This text of Maine § 5 §15308 (General conditions; dissolution) 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 §15308 (2026).

Text

The institute 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 institute.

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

2.Dissolution of institute.

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The institute 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 institute.
1.
Net earnings of institute.
No part of the net earnings of the institute may benefit any member, officer, director or employee except that the institute may pay reasonable compensation for services rendered and otherwise hold, manage and dispose of its property in furtherance of the purposes of the institute.
2.
Dissolution of institute.