20-A §6907. Liability of officers, directors and employees - Maine Statutes

Title 20-A: EDUCATION

Part 3: ELEMENTARY AND SECONDARY EDUCATION

Chapter 226: JOB FOR MAINE'S GRADUATES HEADING: PL 1993, C. 348, §1 (NEW)

§6907. Liability of officers, directors and employees

All officers, directors, employees and other agents of the corporation entrusted with the custody of the securities of the corporation or authorized to disburse the funds of the corporation must be bonded, either by a blanket bond or by individual bonds, with a surety bond or bonds with a minimum limitation of $100,000 coverage for each person covered, conditioned upon the faithful performance of duties, the premiums for which are paid out of the assets of the corporation. [1993, c. 348, §1 (NEW).]

SECTION HISTORY

1993, c. 348, §1 (NEW).