Maine § 13120-J. - Interest of trustee or employee
Full text of Maine Maine Revised Statutes § 13120-J. — Interest of trustee or employee, with citation guidance and answers to common questions.
§ 13120-J.. Interest of trustee or employee
1. Acquisition of interest. A member of the board of trustees or employee of the authority may not acquire or hold a direct or an indirect personal financial interest in:
A. An authority activity; [PL 2001, c. 703, §6 (NEW).]
B. Property or facilities included, planned to be included or expected to directly benefit from an authority activity; or [PL 2001, c. 703, §6 (NEW).]
C. A contract or proposed contract in connection with an authority activity. [PL 2001, c. 703, §6 (NEW).]
When an acquisition is involuntary, the interest acquired must be disclosed immediately in writing to the board of trustees and the disclosure must be entered in the board of trustees' minutes.
2. Present or past interest in property. If a member of the board of trustees or employee of the authority presently owns or controls, or owned or controlled within the preceding 2 years, a direct or an indirect interest in property known to be included or planned to be included in an authority activity, that member or employee shall disclose this fact immediately in writing to the board of trustees and the disclosure must be entered in the board of trustees' minutes.
3. Recusal. A member of the board of trustees or employee of the authority with an interest under subsection 2 may not participate in an action by the authority affecting that property.
4. Violation. A violation of this section is a Class E crime.
Source: official Maine text · Last verified 2026-08-27
Frequently Asked Questions About Maine § 13120-J.
What does Maine Revised Statutes § 13120-J. cover?
Section 13120-J. ("Interest of trustee or employee") is part of the Maine Revised Statutes, the codified statutory law of Maine. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maine § 13120-J.?
A common citation format is "Maine Revised Statutes § 13120-J." (Maine). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maine law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maine official source linked on this page or consult a licensed Maine attorney.
How does Maine § 13120-J. apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maine can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maine.