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Home » US Law » 2022 Maine Revised Statutes » TITLE 10: COMMERCE AND TRADE » Part 2: BUILDING AND DEVELOPMENT » Chapter 110: FINANCE AUTHORITY OF MAINE » Subchapter 1: FINANCE AUTHORITY OF MAINE ACT

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10 §961. Finance Authority of Maine Act

§961. Finance Authority of Maine Act This chapter shall be known and may be cited as the “Finance Authority of Maine Act.”   [PL 1983, c. 519, §6 (NEW).] SECTION HISTORY PL 1983, c. 519, §6 (NEW).

10 §962. Purpose

§962. Purpose There is a statewide need to provide enlarged opportunities for gainful employment to the people of the State and to ensure the preservation and betterment of the economy and the general health, safety and welfare of the State and its inhabitants; to provide a more healthy environment through the restoration of purity to […]

10 §963-A. Definitions

§963-A. Definitions As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings.   [PL 1985, c. 344, §7 (NEW).] 1.  Agricultural enterprise.  “Agricultural enterprise” means knowledge, skill or labor applied to growing or raising plants or animals, harvesting plants or growing or obtaining plant or animal by-products, includes […]

10 §964. Organization and responsibility

§964. Organization and responsibility 1.  Finance Authority of Maine.  The Finance Authority of Maine is established as a body corporate and politic and a public instrumentality of the State, and the exercise by the authority of the powers conferred by this chapter shall be deemed and held to be the performance of essential governmental functions. […]

10 §965. Membership

§965. Membership There shall be 15 voting members of the authority as follows.   [PL 1989, c. 598, §4 (AMD).] 1.  Selected board members.  [PL 2001, c. 417, §5 (RP).] 2.  Designated members.  Three members appointed by the Governor and subject to review by the joint standing committee of the Legislature having jurisdiction over economic […]

10 §966. Terms of office

§966. Terms of office The terms of office for the designated and at-large members defined in section 965, subsections 2 and 3, are for 4 years, except for initial appointees.   [PL 2001, c. 417, §7 (AMD).] 1.  Initial terms of office.  The initial terms of office shall apply to the initial designated and at-large […]

10 §967-A. Limitation of liability

§967-A. Limitation of liability No member of the authority, no member of any board of the authority and no employee of the authority may be subject to any personal liability for having acted within the course and scope of his membership or employment to carry out any power or duty under this chapter. The authority […]

10 §968. Administration

§968. Administration The authority shall elect one of its members as chairman; one member as vice-chairman, who shall serve as secretary; one member as treasurer; and shall employ a chief executive officer.   [PL 1983, c. 519, §6 (NEW).] SECTION HISTORY PL 1983, c. 519, §6 (NEW).

10 §969-A. Powers and duties of the authority

§969-A. Powers and duties of the authority The authority may, subject to any limitation of this chapter:   [PL 1985, c. 344, §17 (NEW).] 1.  Borrow.  Borrow money or otherwise obtain credit in its own name;   [PL 1985, c. 344, §17 (NEW).] 2.  Lend.  Lend money or otherwise extend credit to any person and […]

10 §970-A. Other mortgage insurance

§970-A. Other mortgage insurance In carrying out the purposes of this chapter, the authority shall, to the greatest extent possible, require the utilization of private or other governmental sources of mortgage insurance or credit enhancement devices in order to assure the most effective and efficient use of state resources for mortgage insurance.   [PL 1985, […]

10 §971. Actions of the members

§971. Actions of the members Seven members of the authority constitute a quorum of the members. The affirmative vote of the greater of 5 members, present and voting, or a majority of those members present and voting is necessary for any action taken by the members. A vacancy in the membership of the authority does […]

10 §972. Chief executive officer

§972. Chief executive officer The chief executive officer shall be the chief administrative officer of the authority and shall be appointed by the Governor, subject to review by the joint standing committee of the Legislature having jurisdiction over housing and economic development and to confirmation by the Legislature. At least 10 days before the Governor […]

10 §973. Conflicts of interest

§973. Conflicts of interest Notwithstanding Title 5, section 18, subsection 1, paragraph B, each member of the authority and each employee, contractor, agent or other representative of the authority is deemed an “executive employee” solely for purposes of Title 5, section 18, and for no other purpose, except that the chief executive officer in addition […]

10 §974. Annual report; audit

§974. Annual report; audit 1.  Report.  The authority shall submit to the Governor, the Speaker of the House of Representatives, the President of the Senate and the joint standing committees of the Legislature having jurisdiction over housing and economic development and education, not later than 120 days after the close of its fiscal year, a […]

10 §975-A. Disclosure and confidentiality of records

§975-A. Disclosure and confidentiality of records 1.  Disclosure required.  Notwithstanding subsections 2 and 3 and except as provided in paragraph F, the following shall be made available to any person upon request reasonably describing the records to which access is sought or, if no request is made, in any manner and at any time which […]