Public Laws

123rd Legislature

Second Regular Session

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Chapter 624

S.P. 636 - L.D. 1792

An Act To Require Disclosure of the Compensation of Officers and Directors of Public Benefit Nonprofit Corporations

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 13-B MRSA §713-A, sub-§2-A  is enacted to read:

2-A.  Compensation information.   A public benefit corporation that receives at least 25% of its total funding from one or more municipal, county, state or federal sources shall provide to the public information about the total compensation paid by the corporation to any director or officer of the corporation if the compensation exceeds $250,000 in any 12-month period. The corporation shall make the information available by posting the information on its publicly accessible website or through other comparable means. "Compensation" includes all remuneration and benefits.

Sec. 2. Notification. The Secretary of State shall include a statement of the requirements of the Maine Revised Statutes, Title 13-B, section 713-A, subsection 2-A relating to public benefit nonprofit corporations on its website and in any written communication with public benefit nonprofit corporations organized in this State.

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