2005 Maine Code - §689 — General conditions; dissolution (CONTAINS TEXT WITH VARYING EFFECTIVE DATES)

      1. Net earnings of center. The annual net earnings of the center must be distributed to the Maine Health Data Organization and the Maine Health Information Center in proportion to the average annual funding provided by each entity for the operational costs of the center. The net earnings of the center may not inure to the benefit of any officer, director or employee, except that the center is authorized and empowered to pay reasonable compensation for services rendered and otherwise hold, manage and dispose of its property in furtherance of the purposes of the center.[2005, c. 565, §4 (amd).]
      2. Dissolution of center. Upon dissolution of the center, the board of directors shall, after paying or making provision for the payment of all liabilities of the center, cause all of the remaining assets of the center to be transferred to the Maine Health Data Organization and the Maine Health Information Center in shares proportionate to the total revenue transferred to the center by each entity.[2001, c. 456, §1 (new).]

Section History:

PL 2001,  Ch. 456,   §1 (NEW).
PL 2005,  Ch. 565,   §4 (AMD).