Maine § 1958. - For-profit prisons
Full text of Maine Maine Revised Statutes § 1958. — For-profit prisons, with citation guidance and answers to common questions.
§ 1958.. For-profit prisons
1. Definitions. For the purposes of this section, unless the context otherwise indicates, the following terms have the following meanings.
A. "Board" has the same meaning as in section 17001, subsection 7. [PL 2021, c. 234, §2 (NEW); RR 2021, c. 1, Pt. A, §4 (RAL).]
B. "Retirement system" means the Maine Public Employees Retirement System. [PL 2021, c. 234, §2 (NEW); RR 2021, c. 1, Pt. A, §4 (RAL).]
2. Board may not invest. The board, in accordance with sound investment criteria and consistent with fiduciary obligations, may not invest the assets of the retirement system in any stocks or other securities of any corporation or company that owns or operates prisons for profit. Nothing in this subsection precludes de minimis exposure of any funds held by the board to the stocks, securities or other obligations of any corporation or company that owns or operates prisons for profit.
3. Board to divest. The board shall review the extent to which the assets of the retirement system are invested in any stocks or other securities of any corporation or company that owns or operates prisons for profit. The board shall, in accordance with sound investment criteria and consistent with fiduciary obligations, divest any such holdings. Nothing in this subsection precludes de minimis exposure of any funds held by the board to the stocks, securities or other obligations of any corporation or company that owns or operates prisons for profit.
Frequently Asked Questions About Maine § 1958.
What does Maine Revised Statutes § 1958. cover?
Section 1958. ("For-profit prisons") 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 § 1958.?
A common citation format is "Maine Revised Statutes § 1958." (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 § 1958. 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.