20-A §6908. Prohibited interests 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)

§6908. Prohibited interests of officers, directors and employees

Officers, directors or employees of the corporation or their spouses or dependent children may not receive any direct personal benefit from the activities of the corporation in assisting any private entity. This provision does not prohibit corporations or other entities with which an officer or director is associated by reasons of ownership or employment from participating in school-to-work transition activities of the corporation, provided that the ownership or employment is made known to the board of directors and, if applicable, the officer or director abstains from voting on matters relating to that participation. [1993, c. 348, §1 (NEW).]

SECTION HISTORY

1993, c. 348, §1 (NEW).