LD 1136
pg. 3
Page 2 of 4 An Act To Amend the Maine Business Corporation Act Page 4 of 4
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LR 698
Item 1

 
This subsection takes effect January 1, 2017.

 
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.

 
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:

 
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

 
B.__The court determines that the fees should not in the
interest of justice be paid out of recovery, if any.

 
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 B, §7, is repealed and the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:

 
B.__In a manner that:

 
(1) The director reasonably believes to be in the
best interests of the corporation; or

 
(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.

 
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 B, §7, is repealed and the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:

 
C.__In a manner that:

 
(1)__The officer reasonably believes to be in the
best interests of the corporation; or

 
(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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