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2012 Maine Revised Statutes
TITLE 10: COMMERCE AND TRADE
Chapter 107: MAINE DEVELOPMENT FOUNDATION; MAINE ECONOMIC GROWTH COUNCIL
10 §923. Prohibited interests of officers, directors and employees


10 ME Rev Stat § 923 (2012 through 125th Legis) What's This?

Part 2: BUILDING AND DEVELOPMENT

§923. Prohibited interests of officers, directors and employees

No officer, director or employee of the foundation or their spouses or dependent children shall receive any direct personal benefit from the activities of the foundation in assisting any private entity. This provision shall not prohibit corporations or other entities with which an officer or director is associated by reason of ownership or employment from participating in economic development activities with the foundation, provided that such ownership or employment is made known to the board, and the officer or director abstains from voting on matters relating to such participation. This prohibition does not extend to corporators who are not officers or directors of the foundation. [1977, c. 548, §1 (NEW).]

SECTION HISTORY

1977, c. 548, §1 (NEW).

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