Limitation of powers

  1. Law
  2. Maine Revised Statutes
  3. COMMERCE AND TRADE
  4. BUILDING AND DEVELOPMENT
  5. MAINE DEVELOPMENT FOUNDATION; MAINE ECONOMIC GROWTH COUNCIL
  6. Limitation of powers

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§921. Limitation of powers

The foundation, notwithstanding the foregoing, shall have no power or authority to enter into contracts, obligations or commitments of any kind on behalf of the State or any of its agencies, nor shall it have the power of eminent domain or any other power not provided to business corporations generally. Bonds, notes and other evidences of indebtedness of the foundation shall not in any way be a debt or liability of the State or constitute a pledge of the faith and credit of the State.   [PL 1977, c. 548, §1 (NEW).]

SECTION HISTORY

PL 1977, c. 548, §1 (NEW).


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