Maine Revised Statutes Title 5 Sec. 894 – Liability limited
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Terms Used In Maine Revised Statutes Title 5 Sec. 894
- Employee: means any person whether appointed, elected or under contract, providing services for the State, county, municipality or other political subdivision, for which compensation is paid. See Maine Revised Statutes Title 5 Sec. 891
- Individual retirement account: means an individual retirement account that is in compliance with the United States Internal Revenue Code. See Maine Revised Statutes Title 5 Sec. 891
- Municipality: includes cities, towns and plantations, except that "municipality" does not include plantations in Title 10, chapter 110, subchapter IV; or Title 30?A, Part 2. See Maine Revised Statutes Title 1 Sec. 72
The State, any county, municipality or other political subdivision which transfers employee compensation to an individual retirement account shall have no liability for the funds once a proper transfer has been made. [PL 1983, c. 791, §2 (NEW).]
SECTION HISTORY
PL 1983, c. 791, §2 (NEW).