Section 1. Membership. The Sole Member of the Corporation shall be Central Maine Medical Center ("Member", or "Sole Member").
Section 2. Powers and Voting Rights of the Sole Member. The Sole Member shall have the following rights and powers, except as expressly stated herein, and shall also have the rights of members, including the right to vote on any matters on which members may have a right to vote, under Title 13-B, Maine Revised Statues:
- Fix the number of Trustees within the limits of the Articles of Incorporation.
- Elect, reappoint, or remove Trustees or officers upon nomination or recommendation by the Board of Trustees of the Corporation.
- To review the appointment or removal of the President of the Corporation and, in collaboration with the College, to disapprove any such appointment or removal of the President to the extent that the Member concludes that it would be detrimental to the College or Sole Member.
- To review the annual operating and capital budgets and any proposed unbudgeted capital expenditure of $100,000 or greater, any project involving new and unbudgeted annual operating expenses of $100,000 or greater, or the Corporation incurring any unbudgeted long term debt of $100,000 or greater and, in collaboration with the Corporation, to disapprove any such budget, expenditure, or debt to the extent that Member concludes that it would be financially detrimental or economically unfeasible to the College or the Sole Member.
Section 3. Special Meetings. Special meetings of the Corporation may be called at any time by the Sole Member.
Revised
February 2, 2022