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This subsection takes effect January 1, 2017. |
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| | 8.__Criminal penalties.__A director of a corporation who | willfully violates subsection 1 shall upon conviction be fined | not more than $1,000,000 or imprisoned not more than 5 years, | or both.__The fine may not reduce the amount of a civil | penalty paid under subsection 7. |
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| | 9.__Attorney's fees.__Upon motion, a court may award | attorney's fees to a successful party against one or more | defendants in any action pursuant to subsection 1 against a | corporation or a director of a corporation if: |
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| A.__The action results in a significant benefit, whether | pecuniary or nonpecuniary, to the general public or a | large class of persons other than shareholders; and |
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| B.__The court determines that the fees should not in the | interest of justice be paid out of recovery, if any. |
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| | Sec. 2. 13-C MRSA §831, sub-§1, ¶B, as enacted by PL 2001, c. 640, | Pt. A, §2 and affected by Pt. B, §7, is repealed and the | following enacted in its place: |
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| (1) The director reasonably believes to be in the | best interests of the corporation; or |
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| (2)__Does not adversely affect the public interest.__ | "Public interest" means the environment, human | rights, public health and safety of the community in | which the corporation operates and the dignity of the | corporation's employees. |
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| | Sec. 3. 13-C MRSA §843, sub-§1, ¶C, as enacted by PL 2001, c. 640, | Pt. A, §2 and affected by Pt. B, §7, is repealed and the | following enacted in its place: |
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| (1)__The officer reasonably believes to be in the | best interests of the corporation; or |
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| (2)__Does not adversely affect the public interest.__ | "Public interest" means the environment, human | rights, public health and safety of the community in | which the corporation operates and the dignity of the | corporation's employees. |
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