5 §889. Liability limited - Maine Statutes

Title 5: ADMINISTRATIVE PROCEDURES AND SERVICES

Part 2: CIVIL SERVICE

Chapter 67: TAX-DEFERRED ARRANGEMENT HEADING: PL 1973, C. 491 (NEW); 1997, C. 204, §1 (RPR)

§889. Liability limited

The financial liability of the State, county, city, town or other political subdivision under a tax-deferred arrangement under this chapter is limited in each instance to the transmittal to the provider of the investment product or products selected by an employee of that portion of the employee's compensation deferred under the tax-deferred arrangement while the enrollee remains an employee of the State, county, city, town or other political subdivision enrolled in the tax-deferred arrangement, and only to the amount of the portion of the employee's compensation. [1997, c. 204, §7 (RPR).]

SECTION HISTORY

1973, c. 491, (NEW). 1997, c. 204, §7 (RPR).