H.P. 1359 - L.D. 1910
An Act to Grant the Treasurer of State Full Voting Rights on the Board of Trustees of the Maine State Retirement System
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 5 MRSA §17102, sub-§1, ¶A, as amended by PL 1989, c. 503, Pt. B, §33, is further amended to read:
A. The Treasurer of State or the Deputy Treasurer of State, ex officio, as a nonvoting trustee;
Sec. 2. 5 MRSA §17102, sub-§5, as enacted by PL 1985, c. 801, §§5 and 7, is amended to read:
5. Transaction of business. The transaction of business by the board shall be is governed as follows.
A. Four Five trustees shall constitute a quorum for the transaction of any business.
B. Each voting trustee is entitled to one vote.
C. Four Five votes are necessary for any resolution or action by the board at any meeting of the board.
Effective June 30, 1998, unless otherwise indicated.
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