Maine Revised Statutes Title 5 Sec. 17436 – Liability and immunity of trustees of the investment trust fund
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1. Limited liability of trustees of the investment trust fund. A trustee of the investment trust fund is not:
A. Personally liable for any liability, loss or expense suffered by the investment trust fund, unless such a liability, loss or expense arises out of or results from the willful misconduct or intentional wrongdoing of that trustee of the investment trust fund; [PL 2007, c. 240, Pt. RRR, §2 (NEW).]
B. Responsible for the adequacy of the investment trust fund to meet and discharge any obligation; or [PL 2007, c. 240, Pt. RRR, §2 (NEW).]
C. Required to take action to enforce the payment of any contribution or appropriation to the investment trust fund. [PL 2007, c. 240, Pt. RRR, §2 (NEW).]
[PL 2007, c. 240, Pt. RRR, §2 (NEW).]
Terms Used In Maine Revised Statutes Title 5 Sec. 17436
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Investment trust fund: means the Retiree Health Insurance Post-employment Benefits Investment Trust Fund established in section 17432. See Maine Revised Statutes Title 5 Sec. 17431
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
- Trustee: A person or institution holding and administering property in trust.
2. Immunity of trustees of the investment trust fund. The trustees of the investment trust fund are immune from suit on any and all tort claims seeking recovery of damages to the same extent as governmental entities under the Maine Tort Claims Act.
[PL 2007, c. 240, Pt. RRR, §2 (NEW).]
3. Legal representation and defense of trustees of the investment trust fund. The Attorney General is legal counsel to the trustees of the investment trust fund and shall represent and defend the trustees of the investment trust fund, as a group and individually, in connection with any claim, suit or action at law arising out of the performance or nonperformance of any actions related to the investment trust fund to the same extent as provided for governmental entities in the Maine Tort Claims Act.
[PL 2007, c. 240, Pt. RRR, §2 (NEW).]
4. Performance of essential governmental functions. The exercise of the powers conferred by this article is held to be the performance of essential governmental functions.
[PL 2007, c. 240, Pt. RRR, §2 (NEW).]
SECTION HISTORY
PL 2007, c. 240, Pt. RRR, §2 (NEW).