Maine § 5 §1958 For-profit prisons (REALLOCATED FROM TITLE 5, SECTION 1957)

Maine Statutes

§ 5 §1958 — For-profit prisons (REALLOCATED FROM TITLE 5, SECTION 1957)

Maine § 5 §1958

Title 5ADMINISTRATIVE PROCEDURES AND SERVICES

Part 4FINANCE

Ch. 161DIVESTITURE OF STATE FUNDS

This text of Maine § 5 §1958 (For-profit prisons (REALLOCATED FROM TITLE 5, SECTION 1957)) 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 §1958 (2026).

Text

1.Definitions. For the purposes of this section, unless the context otherwise indicates, the following terms have the following meanings.

2.Board may not invest. The board, in accordance with sound investment criteria and consistent with fiduciary obligations, may not invest the assets of the retirement system in any stocks or other securities of any corporation or company that owns or operates prisons for profit. Nothing in this subsection precludes de minimis exposure of any funds held by the board to the stocks, securities or other obligations of any corporation or company that owns or operates prisons for profit.

3.Board to divest. The board shall review the extent to which the assets of the retirement system are invested in any stocks or other securities of any corporation or compa

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1.
Definitions.
For the purposes of this section, unless the context otherwise indicates, the following terms have the following meanings.
2.
Board may not invest.
The board, in accordance with sound investment criteria and consistent with fiduciary obligations, may not invest the assets of the retirement system in any stocks or other securities of any corporation or company that owns or operates prisons for profit. Nothing in this subsection precludes de minimis exposure of any funds held by the board to the stocks, securities or other obligations of any corporation or company that owns or operates prisons for profit.
3.
Board to divest.
The board shall review the extent to which the assets of the retirement system are invested in any stocks or other securities of any corporation or company that owns or operates prisons for profit. The board shall, in accordance with sound investment criteria and consistent with fiduciary obligations, divest any such holdings. Nothing in this subsection precludes de minimis exposure of any funds held by the board to the stocks, securities or other obligations of any corporation or company that owns or operates prisons for profit.