Maine Statutes
§ 5 §157 — Loan Guarantee Program Fund established
Maine·Title 5 ADMINISTRATIVE PROCEDURES AND SERVICES·Part 1 STATE DEPARTMENTS·Ch. 7 TREASURER OF STATE
1.Establishment; purpose.
The Loan Guarantee Program Fund, referred to in this section as "the fund," is established as a nonlapsing Other Special Revenue Funds account within the Office of the Treasurer of State. All money received by the fund from any source, including any transfers from the General Fund unappropriated surplus, must be credited to the fund. Money credited to the fund must be used to guarantee the repayment of loans made by a credit union or financial institution to an eligible affected employee pursuant to the Loan Guarantee Program established in Title 10, chapter 110, subchapter 14.
2.Termination; repeal.
The fund is terminated on June 30, 2022. Upon the termination of the Loan Guarantee Program, the State Controller shall transfer any funds remaining in the fund to
Free access — add to your briefcase to read the full text and ask questions with AI
Maine § 5 §157 (Loan Guarantee Program Fund established) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
PL 2019, c. 617, Pt. I, §1 (NEW). PL 2021, c. 759, Pt. E, §1 (AMD). PL 2021, c. 759, Pt. E, §2 (AFF).
Nearby Sections
15
§ 5 §10
Payment of wages§ 5 §10001
Adjudicatory proceedings§ 5 §10002
Expiration§ 5 §10003
Right to Hearing§ 5 §10004
Action without hearing§ 5 §10005
Decision and record§ 5 §1001
Definitions§ 5 §1002
Name and date of establishment§ 5 §1004
Protection against fraud§ 5 §1005
Proposed amendments§ 5 §1006
Mandatory retirement age prohibited§ 5 §1007
Report to the Legislature