35-A §2911. Reserves and funds - Maine Statutes

Title 35-A: PUBLIC UTILITIES HEADING: PL 1987, C. 141, PT. A, §6 (NEW)

Part 2: PUBLIC UTILITIES HEADING: PL 1987, C. 141, PT. A, §6 (NEW)

Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT HEADING: PL 1987, C. 141, PT. A, §6 (NEW)

§2911. Reserves and funds

1. Establishment. The bank may establish such reserves and such other funds or accounts as may be, in its discretion, necessary, desirable or convenient to further the accomplishment of the purposes of the bank or to comply with the provisions of any agreement made by or any resolution of the bank.

[ 1987, c. 141, Pt. A, §6 (NEW) .]

2. Investment. Money at any time in the reserve fund may be invested in the same manner as permitted for investment of funds belonging to the State or held in the treasury.

[ 1987, c. 141, Pt. A, §6 (NEW) .]

SECTION HISTORY

1987, c. 141, §A6 (NEW).