35-A §2924. Budget
§2924. Budget No later than June 1st each year, the bank shall prepare and file in the office of the Bureau of the Budget a budget of its operating expenses for the ensuing fiscal year. The budget shall be prepared on the basis of quarterly requirements so that it is possible to determine from the […]
35-A §2925. State services
§2925. State services 1. State may render services to bank. All officers, departments, boards, agencies, divisions and commissions of the State, including, without limitation, the Maine Municipal Bond Bank, may render any services to the bank which are within the area of their respective governmental functions as established by law and which are requested by […]
35-A §2926. Agreements with financial institutions
§2926. Agreements with financial institutions 1. Public utility bonds. The bank may enter into such agreements or contracts with any commercial banks, trust companies, banking or other financial institutions inside or outside the State as are necessary, desirable or convenient as determined by the bank, for rendering services to the bank in connection with: […]
35-A §2927. Form of public utility securities and investments
§2927. Form of public utility securities and investments All public utility or other investments of money of the bank permitted or provided for under this chapter shall at all times be purchased and held in fully marketable form, subject to provision for any registration in the name of the bank. All public utility bonds at […]
35-A §2928. Presumption of validity
§2928. Presumption of validity After issuance, all bonds or notes of the bank are conclusively presumed to be fully authorized and issued under the laws of the State and any person or public utility is estopped from questioning their authorization, sale, issuance, execution or delivery by the bank. [PL 1987, c. 141, Pt. A, […]
35-A §2929. Other laws
§2929. Other laws To the extent that this chapter is inconsistent with or in conflict with any private or special law, this chapter shall be effective and such other private or special law is of no effect. [PL 1987, c. 141, Pt. A, §6 (NEW).] It is not intended that the general laws relating […]
35-A §2930. Liberal construction of chapter
§2930. Liberal construction of chapter This chapter shall be construed liberally to effectuate the legislative intent and the purposes of this chapter. [PL 1987, c. 141, Pt. A, §6 (NEW).] SECTION HISTORY PL 1987, c. 141, §A6 (NEW).
35-A §2906. Corporate powers
§2906. Corporate powers 1. Powers. The bank, for carrying out the purposes of this chapter, has the following powers: A. To sue and be sued; [PL 1987, c. 141, Pt. A, §6 (NEW).] B. To adopt and have an official seal and alter that seal at pleasure; [PL 1987, c. 141, Pt. […]
35-A §2922. Remedies on default of public utility securities
§2922. Remedies on default of public utility securities In the event of default by a public utility in the payment of interest on, or principal of, any public utility bond owned or held by the bank as and when due and payable the bank shall proceed to enforce or cause to be enforced payment pursuant […]
35-A §2907. Prohibited acts and limitation of powers
§2907. Prohibited acts and limitation of powers Nothing in this chapter permits or authorizes the bank to: [PL 1987, c. 141, Pt. A, §6 (NEW).] 1. Loans. Make loans of money to any person other than a public utility or purchase securities issued by any person other than a public utility or for investment, […]