Maine Revised Statutes Title 5 Sec. 7505 – Private support organization
Current as of: 2023 | Check for updates
|
Other versions
1. Designation of private support organization. The executive director of the commission, with the consent of the voting members of the commission, shall designate a nonprofit corporation as the private support organization for the commission. The nonprofit corporation must be incorporated under the laws of this State and for purposes that are consistent with the goals, objectives, programs, responsibilities and functions of the commission.
The commission’s private support organization must be organized and operated exclusively to receive, hold, invest and administer property and funds and to make expenditures to and for the benefit of the commission.
[PL 2015, c. 94, §1 (NEW).]
Terms Used In Maine Revised Statutes Title 5 Sec. 7505
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
2. Board of directors. A member of the private support organization’s board of directors may not also be a member of the commission. The executive director of the commission, or the executive director’s designee, shall serve as a nonvoting ex-officio member of the private support organization’s board of directors.
[PL 2015, c. 94, §1 (NEW).]
3. Scope of work. The private support organization shall operate under a memorandum of understanding negotiated annually by the commission that outlines a plan of work consistent with the purposes and goals of the commission and shall submit an annual budget for review and approval by the commission by June 1st.
The memorandum of understanding must further stipulate the reversion to the commission, or to the State if the commission ceases to exist, of money and property held in trust by the private support organization if the private support organization is no longer designated by the commission pursuant to subsection 1.
[PL 2015, c. 94, §1 (NEW).]
4. Use of property. The commission may authorize the private support organization to use the commission’s facilities, equipment and other property, except money, in keeping with the purposes of the private support organization.
[PL 2015, c. 94, §1 (NEW).]
SECTION HISTORY
PL 2015, c. 94, §1 (NEW).