30-A §5717. Retention of unauthorized securities - Maine Statutes

Title 30-A: MUNICIPALITIES AND COUNTIES HEADING: PL 1987, C. 737, PT. A, §2 (NEW)

Part 2: MUNICIPALITIES HEADING: PL 1987, C. 737, PT. A, §2 (NEW)

Subpart 9: FISCAL MATTERS HEADING: PL 1987, C. 737, PT. A, §2 (NEW)

Chapter 223: MUNICIPAL FINANCES HEADING: PL 1987, C. 737, PT. A, §2 (NEW)

Subchapter 3-A: MUNICIPAL INVESTMENTS HEADING: PL 1987, C. 737, PT. A, §2 (NEW)

Article 2: INVESTMENTS IN SECURITIES HEADING: PL 1987, C. 737, PT. A, §2 (NEW)

§5717. Retention of unauthorized securities

Municipalities may acquire and hold securities not authorized by law, but which have been acquired in settlements, reorganizations, recapitalizations, mergers, consolidations, by receipt of stock dividends or the exercise of rights applicable to securities held by the municipalities and may continue to hold these securities at the discretion of the municipal officers. Municipalities may continue to hold at the discretion of the municipal officers securities under authorization of law. [1987, c. 737, Pt. A, §2 (NEW); 1987, c. 737, Pt. C, §106 (NEW); 1989, c. 6, (AMD); 1989, c. 9, §2 (AMD); 1989, c. 104, Pt. C, §§8, 10 (AMD).]

SECTION HISTORY

1987, c. 737, §§A2,C106 (NEW). 1989, c. 6, (AMD). 1989, c. 9, §2 (AMD). 1989, c. 104, §§C8,10 (AMD).