Maine Statutes
§ 5 §194-H — Distribution of proceeds
Maine·Title 5 ADMINISTRATIVE PROCEDURES AND SERVICES·Part 1 STATE DEPARTMENTS·Ch. 9 ATTORNEY GENERAL
1.Requirements.
The proceeds of a conversion transaction must be distributed to an existing or new foundation or public benefit corporation that meets the following requirements.
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Legislative History
PL 2001, c. 550, §A2 (NEW).
Nearby Sections
12
§ 5 §194
Public charities§ 5 §194-B
Definitions§ 5 §194-F
Court approval§ 5 §194-G
Review criteria§ 5 §194-H
Distribution of proceeds§ 5 §194-I
Intervention in court proceeding§ 5 §194-J
Attorney General authority§ 5 §194-K
Penalties