Northern Light Blue Hill & Maine Coast Hospital Board Welcomes Three New Trustees, Including Rudman Winchell’s Own Michael A. Hockenbury, Esq

With individual tax season in full swing, we can pause to consider the role of charitable organizations. Toward the end of each year, charitable giving in many forms increases, particularly to organizations that tout themselves as “exempt” under Internal Revenue Code Section 501(c)(3). For charitable entities seeking 501(c)(3) exempt status, what is the process? And…

Many people spend a great deal of their adult life dedicating themselves to often stressful and difficult job of owning and running their own small business, which, rather arbitrarily, for purposes of this article, means one that employs anywhere from 5 to 100 employees, and could be sold for roughly anywhere between $500,000.00 and $5,000,000.00,…

Under Maine law, corporate officers and directors bear fiduciary duties to the corporations they serve. Fiduciary duties exist because of the high level of trust placed in a person in a fiduciary capacity. As U.S. Supreme Court Justice Cardozo explained in 1928 in Meinhard v. Salmon: A trustee is held to something stricter than the…