Maine Revised Statutes Title 5 Sec. 13204 – Use of operating revenues
Current as of: 2023 | Check for updates
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1. Principal use of revenues. Operating revenues must be used principally to reinvest in the properties held by the corporation.
[PL 2021, c. 631, §1 (NEW).]
Terms Used In Maine Revised Statutes Title 5 Sec. 13204
- 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.
- Corporation: means the Maine Space Corporation established in section 13201. See Maine Revised Statutes Title 5 Sec. 13202
- 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.
2. Permitted liability limited. All expenses incurred in carrying out the provisions of this chapter must be paid solely from funds provided by the corporation, and liability or obligation may not be incurred under this chapter beyond the extent to which funds have been provided by the corporation.
[PL 2021, c. 631, §1 (NEW).]
3. Equal opportunity employers. Contractors and subcontractors on corporation construction and reconstruction projects must be equal opportunity employers and, for contracts of more than $250,000, shall pursue in good faith affirmative action programs as defined in section 782.
[PL 2021, c. 631, §1 (NEW).]
SECTION HISTORY
PL 2021, c. 631, §1 (NEW).