LAW WITHOUT
GOVERNOR'S CHAPTER
SIGNATURE
325
JUNE 17, 2025 PUBLIC LAW
STATE OF MAINE
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IN THE YEAR OF OUR LORD
TWO THOUSAND TWENTY-FIVE
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H.P. 1000 - L.D. 1516
An Act to Strengthen the Maine Development Foundation
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 10 MRSA §919, as repealed and replaced by PL 1997, c. 662, §3, is amended
to read:
§919. Board of directors; officers
The Board of Directors of the Maine Development Foundation, referred to in this
chapter as "the "board of directors," consists of a minimum of 15 directors elected or
appointed to serve in that capacity in accordance with this section. The board of directors
shall annually determine the number of directors for the succeeding year. The corporators
shall elect 1/2 of the elected directors from among the private sector corporators and 1/2 of
the elected directors from among the public sector corporators. The Governor shall appoint
2 directors from among the ex officio corporators. Except for the president of the Maine
Development Foundation, a person may not serve as a director for more than 5 years in
succession. Elected directors must be elected to 4-year staggered terms, as provided by the
board of directors, and may not be elected for more than 2 successive terms. The
corporators shall elect a chair, a vice-chair and a treasurer from among the board of
directors. The board of directors shall appoint a president of the Maine Development
Foundation. The president may not be appointed from among the other directors. Upon
appointment, the president becomes a director and the chief executive officer of the Maine
Development Foundation.
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