Maine § 18514. - Finance powers
Full text of Maine Maine Revised Statutes § 18514. — Finance powers, with citation guidance and answers to common questions.
§ 18514.. Finance powers
1. Annual assessment. The interstate commission may levy an annual assessment on and collect the assessment from each member state to cover the cost of the operations and activities of the interstate commission and its staff. The total assessment must be sufficient to cover the annual budget approved each year for which revenue is not provided by other sources. The aggregate annual assessment amount must be allocated upon a formula to be determined by the interstate commission. The interstate commission shall adopt the formula by rule binding upon all member states.
2. Obligations. The interstate commission may not incur an obligation of any kind prior to securing the funds adequate to meet that obligation.
3. Credit. The interstate commission may not pledge the credit of another member state, except by and with the authority of that member state.
4. Financial audit. The interstate commission is subject to a yearly financial audit conducted by a certified or licensed public accountant, and the report of the audit must be included in the annual report of the interstate commission under section 18513, subsection 1, paragraph K.
Frequently Asked Questions About Maine § 18514.
What does Maine Revised Statutes § 18514. cover?
Section 18514. ("Finance powers") 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 § 18514.?
A common citation format is "Maine Revised Statutes § 18514." (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 § 18514. 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.