reglab/statecodes huggingface dataset:
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 5: POWERS AND AMENDMENTS › Subchapter 2: LIMITATIONS › 13 §173. Penalties

§173. Penalties
Any firm, incorporated or unincorporated company, or association of persons or stockholders, who shall enter into or become interested in such trust, combination or association, shall be punished by a fine of not less than $5,000 nor more than $10,000.
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 5: POWERS AND AMENDMENTS › Subchapter 3: CHANGES AND AMENDMENTS › 13 §201. Increase in capital stock; change of purpose; number of directors or certificate; fees (REPEALED)

§201. Increase in capital stock; change of purpose; number of directors or certificate; fees
(REPEALED)
SECTION HISTORY
PL 1965, c. 268 (AMD). PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 5: POWERS AND AMENDMENTS › Subchapter 3: CHANGES AND AMENDMENTS › 13 §202. Reduction of capital stock (REPEALED)

§202. Reduction of capital stock
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 5: POWERS AND AMENDMENTS › Subchapter 3: CHANGES AND AMENDMENTS › 13 §203. Reorganizations and changes under federal law (REPEALED)

§203. Reorganizations and changes under federal law
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 5: POWERS AND AMENDMENTS › Subchapter 3: CHANGES AND AMENDMENTS › 13 §204. Change of name; certificate filed in registry of deeds (REPEALED)

§204. Change of name; certificate filed in registry of deeds
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 5: POWERS AND AMENDMENTS › Subchapter 3: CHANGES AND AMENDMENTS › 13 §205. Change of location; certificate filed in registry of deeds (REPEALED)

§205. Change of location; certificate filed in registry of deeds
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 5: POWERS AND AMENDMENTS › Subchapter 3: CHANGES AND AMENDMENTS › 13 §206. Certificate of every change filed with Secretary of State (REPEALED)

§206. Certificate of every change filed with Secretary of State
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 7: MERGER, CONSOLIDATION, SALE OF ASSETS › Subchapter 1: PROCEDURE › 13 §241. Sale, lease or consolidation; consent of stockholders (REPEALED)

§241. Sale, lease or consolidation; consent of stockholders
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 7: MERGER, CONSOLIDATION, SALE OF ASSETS › Subchapter 1: PROCEDURE › 13 §242. Agreement to consolidate (REPEALED)

§242. Agreement to consolidate
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 7: MERGER, CONSOLIDATION, SALE OF ASSETS › Subchapter 1: PROCEDURE › 13 §243. Vote on consolidation agreement (REPEALED)

§243. Vote on consolidation agreement
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 7: MERGER, CONSOLIDATION, SALE OF ASSETS › Subchapter 1: PROCEDURE › 13 §244. Notice of dissent (REPEALED)

§244. Notice of dissent
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 7: MERGER, CONSOLIDATION, SALE OF ASSETS › Subchapter 1: PROCEDURE › 13 §245. Consolidation with foreign corporation (REPEALED)

§245. Consolidation with foreign corporation
(REPEALED)
SECTION HISTORY
PL 1969, c. 129 (AMD). PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 7: MERGER, CONSOLIDATION, SALE OF ASSETS › Subchapter 1: PROCEDURE › 13 §246. Law governing; service of process (REPEALED)

§246. Law governing; service of process
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 7: MERGER, CONSOLIDATION, SALE OF ASSETS › Subchapter 1: PROCEDURE › 13 §247. Status of new corporation (REPEALED)

§247. Status of new corporation
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 7: MERGER, CONSOLIDATION, SALE OF ASSETS › Subchapter 1: PROCEDURE › 13 §248. Change of location (REPEALED)

§248. Change of location
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 7: MERGER, CONSOLIDATION, SALE OF ASSETS › Subchapter 1: PROCEDURE › 13 §249. Definitions (REPEALED)

§249. Definitions
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 7: MERGER, CONSOLIDATION, SALE OF ASSETS › Subchapter 1: PROCEDURE › 13 §250. Fees (REPEALED)

§250. Fees
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 7: MERGER, CONSOLIDATION, SALE OF ASSETS › Subchapter 2: RIGHTS OF DISSENTING STOCKHOLDERS › 13 §281. Filing of petition (REPEALED)

§281. Filing of petition
(REPEALED)
SECTION HISTORY
PL 1969, c. 128, §1 (AMD). PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 7: MERGER, CONSOLIDATION, SALE OF ASSETS › Subchapter 2: RIGHTS OF DISSENTING STOCKHOLDERS › 13 §282. Failure to enter petition; prosecution by stockholder (REPEALED)

§282. Failure to enter petition; prosecution by stockholder
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 7: MERGER, CONSOLIDATION, SALE OF ASSETS › Subchapter 2: RIGHTS OF DISSENTING STOCKHOLDERS › 13 §283. Valuation of shares; deposit of award; shares as corporate property (REPEALED)

§283. Valuation of shares; deposit of award; shares as corporate property
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 7: MERGER, CONSOLIDATION, SALE OF ASSETS › Subchapter 2: RIGHTS OF DISSENTING STOCKHOLDERS › 13 §284. Appeals; lien of appellant (REPEALED)

§284. Appeals; lien of appellant
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 7: MERGER, CONSOLIDATION, SALE OF ASSETS › Subchapter 2: RIGHTS OF DISSENTING STOCKHOLDERS › 13 §285. Assent assumed if dissent not filed; guardian for incapacitated stockholder (REPEALED)

§285. Assent assumed if dissent not filed; guardian for incapacitated stockholder
(REPEALED)
SECTION HISTORY
PL 1969, c. 433, §12 (AMD). PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 7: MERGER, CONSOLIDATION, SALE OF ASSETS › Subchapter 2: RIGHTS OF DISSENTING STOCKHOLDERS › 13 §286. Deposit of shares in court; transfers subject to final decree (REPEALED)

§286. Deposit of shares in court; transfers subject to final decree
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 7: MERGER, CONSOLIDATION, SALE OF ASSETS › Subchapter 2: RIGHTS OF DISSENTING STOCKHOLDERS › 13 §287. Failure to pay amount decreed; lien of dissenting stockholder (REPEALED)

§287. Failure to pay amount decreed; lien of dissenting stockholder
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 7: MERGER, CONSOLIDATION, SALE OF ASSETS › Subchapter 2: RIGHTS OF DISSENTING STOCKHOLDERS › 13 §288. Hearing and determination; orders for enforcement of rights (REPEALED)

§288. Hearing and determination; orders for enforcement of rights
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 7: MERGER, CONSOLIDATION, SALE OF ASSETS › Subchapter 2: RIGHTS OF DISSENTING STOCKHOLDERS › 13 §289. Formal defects; new petition (REPEALED)

§289. Formal defects; new petition
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 7: MERGER, CONSOLIDATION, SALE OF ASSETS › Subchapter 2: RIGHTS OF DISSENTING STOCKHOLDERS › 13 §290. Exceptions (REPEALED)

§290. Exceptions
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 7: MERGER, CONSOLIDATION, SALE OF ASSETS › Subchapter 2: RIGHTS OF DISSENTING STOCKHOLDERS › 13 §291. Pending proceedings bar action (REPEALED)

§291. Pending proceedings bar action
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 9: CONTRACTS AND LIABILITIES › 13 §332. Mortgages

§332. Mortgages
Title 23, chapter 605, subchapters IV and V, shall apply to and include all mortgages of franchises, lands or other hereditaments or of all of them heretofore or hereafter given by any corporation to trustees to secure scrip or bonds of said corporation. The holder of said scrip or bonds shall have the benefit of all said sections, whether the said mortgages have been or may be foreclosed in the manner provided by Title 23, section 5161, or in any other legal manner, and to the extent of and with reference to the property covered by the mortgage. The new corporation, when organized, shall have the rights and privileges of the original corporation.   [PL 1987, c. 141, Pt. B, §12 (AMD).]
SECTION HISTORY
PL 1987, c. 141, §B12 (AMD).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 9: CONTRACTS AND LIABILITIES › 13 §333. Property and franchise taken for debts

§333. Property and franchise taken for debts
The property of any corporation, and the franchise of one having a right to receive a toll established by the State, with its privileges and immunities, are liable to attachment on mesne process and levy on execution for debts of the corporation in the manner prescribed by law.
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 9: CONTRACTS AND LIABILITIES › 13 §334. Information for process server

§334. Information for process server
Every agent or person having charge of corporate property shall on request furnish to any officer, having a writ or execution against the corporation for service, the names of the directors and clerk and a schedule of all property, including debts known by him to belong to the corporation. Any officer of a judgment debtor corporation may be cited to disclose the affairs of the corporation in the same manner as provided for the disclosure of other judgment debtors.
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 9: CONTRACTS AND LIABILITIES › 13 §335. Execution satisfied from debts due; proceedings

§335. Execution satisfied from debts due; proceedings
An officer, having an execution against a manufacturing corporation and unable to find property liable to seizure, or the creditor may elect to satisfy it in whole or in part by a debt due to the corporation not exceeding the amount due to the creditor. The person having custody of the evidence of such debt shall deliver it to such officer with a written transfer thereof to him for the use of the creditor, which shall constitute an assignment thereof, and the creditor, in the name of the corporation, may sue for and collect it, subject to any equitable counterclaim by the debtor.
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 9: CONTRACTS AND LIABILITIES › 13 §336. Neglect of duty; penalty

§336. Neglect of duty; penalty
Any officer or other person who unnecessarily neglects or refuses to comply with sections 334 and 335 forfeits not exceeding 4 times the amount due on such execution and may be imprisoned for less than one year.
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 9: CONTRACTS AND LIABILITIES › 13 §337. Books produced for trial; refusal

§337. Books produced for trial; refusal
When a suit or prosecution is pending for a violation, either of sections 334 to 336 or to enforce the liabilities created by Title 13‑C, section 833, the clerk or person having custody of the books of the corporation shall, upon reasonable written notice, produce them on trial; and for neglect or refusal to do so, the person is liable to the same fine or imprisonment as the party on trial would be.   [PL 2003, c. 344, Pt. D, §6 (AMD).]
SECTION HISTORY
PL 1971, c. 565, §1 (AMD). PL 2003, c. 344, §D6 (AMD).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 11: DIRECTORS AND OFFICERS › 13 §371. Officers; qualifications of directors; treasurer's bond; clerk; classes of directors; out-of-state meetings (REPEALED)

§371. Officers; qualifications of directors; treasurer's bond; clerk; classes of directors; out-of-state meetings
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 11: DIRECTORS AND OFFICERS › 13 §373. Clerk's office, books; record of stockholders; inspection of record (REPEALED)

§373. Clerk's office, books; record of stockholders; inspection of record
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 11: DIRECTORS AND OFFICERS › 13 §375. Certificate of election of clerk; attested copy evidence (REPEALED)

§375. Certificate of election of clerk; attested copy evidence
(REPEALED)
SECTION HISTORY
PL 1965, c. 61, §1 (AMD). PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 11: DIRECTORS AND OFFICERS › 13 §376. Resignation of clerk (REPEALED)

§376. Resignation of clerk
(REPEALED)
SECTION HISTORY
PL 1965, c. 61, §2 (AMD). PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 11: DIRECTORS AND OFFICERS › 13 §379. Unclaimed dividends (REPEALED)

§379. Unclaimed dividends
(REPEALED)
SECTION HISTORY
PL 1967, c. 394 (RPR). PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 13: STOCK AND STOCKHOLDERS › Subchapter 1: CAPITAL STOCK › 13 §421. Issuance of certificates of shares (REPEALED)

§421. Issuance of certificates of shares
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 13: STOCK AND STOCKHOLDERS › Subchapter 1: CAPITAL STOCK › 13 §422. Kinds of stock (REPEALED)

§422. Kinds of stock
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 13: STOCK AND STOCKHOLDERS › Subchapter 1: CAPITAL STOCK › 13 §423. Issue of stock for property and services; rights or options (REPEALED)

§423. Issue of stock for property and services; rights or options
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 13: STOCK AND STOCKHOLDERS › Subchapter 1: CAPITAL STOCK › 13 §424. Issue of nonpar stock consideration; division into capital and surplus (REPEALED)

§424. Issue of nonpar stock consideration; division into capital and surplus
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 13: STOCK AND STOCKHOLDERS › Subchapter 1: CAPITAL STOCK › 13 §425. Preferred stock retired (REPEALED)

§425. Preferred stock retired
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 13: STOCK AND STOCKHOLDERS › Subchapter 2: LIABILITY OF STOCKHOLDERS › 13 §451. Personal representatives not liable (REPEALED)

§451. Personal representatives not liable
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 13: STOCK AND STOCKHOLDERS › Subchapter 2: LIABILITY OF STOCKHOLDERS › 13 §452. Pledgee of stock not liable (REPEALED)

§452. Pledgee of stock not liable
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 13: STOCK AND STOCKHOLDERS › Subchapter 2: LIABILITY OF STOCKHOLDERS › 13 §453. Liability limited by amount of stock; exception (REPEALED)

§453. Liability limited by amount of stock; exception
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 13: STOCK AND STOCKHOLDERS › Subchapter 2: LIABILITY OF STOCKHOLDERS › 13 §454. Capital stock subscribed is for security of creditors (REPEALED)

§454. Capital stock subscribed is for security of creditors
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 13: STOCK AND STOCKHOLDERS › Subchapter 2: LIABILITY OF STOCKHOLDERS › 13 §455. Rights of judgment creditors (REPEALED)

§455. Rights of judgment creditors
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 13: STOCK AND STOCKHOLDERS › Subchapter 2: LIABILITY OF STOCKHOLDERS › 13 §456. Collection of judgments (REPEALED)

§456. Collection of judgments
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 13: STOCK AND STOCKHOLDERS › Subchapter 2: LIABILITY OF STOCKHOLDERS › 13 §457. Defenses (REPEALED)

§457. Defenses
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 13: STOCK AND STOCKHOLDERS › Subchapter 2: LIABILITY OF STOCKHOLDERS › 13 §458. Reimbursement from corporation (REPEALED)

§458. Reimbursement from corporation
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 15: ANNUAL RETURNS › 13 §502. Deposit in post office sufficient; neglect or refusal (REPEALED)

§502. Deposit in post office sufficient; neglect or refusal
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 17: DISSOLUTION AND TERMINATION › 13 §542. Judgment of dissolution and injunction against continuing business (REPEALED)

§542. Judgment of dissolution and injunction against continuing business
(REPEALED)
SECTION HISTORY
PL 1969, c. 127 (AMD). PL 1969, c. 128, §2 (AMD). PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 17: DISSOLUTION AND TERMINATION › 13 §543. Receivers; attachments dissolved; distribution of assets; priorities (REPEALED)

§543. Receivers; attachments dissolved; distribution of assets; priorities
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 17: DISSOLUTION AND TERMINATION › 13 §546. Sale of property and franchises; receiver may accept claims in payment (REPEALED)

§546. Sale of property and franchises; receiver may accept claims in payment
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 17: DISSOLUTION AND TERMINATION › 13 §549. Equitable relief; no liabilities, no trustees (REPEALED)

§549. Equitable relief; no liabilities, no trustees
(REPEALED)
SECTION HISTORY
PL 1969, c. 128, §3 (AMD). PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 17: DISSOLUTION AND TERMINATION › 13 §550. Jurisdiction; collection and distribution of assets; fees (REPEALED)

§550. Jurisdiction; collection and distribution of assets; fees
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 17: DISSOLUTION AND TERMINATION › 13 §553. Judgment creditor may file request for equitable relief (REPEALED)

§553. Judgment creditor may file request for equitable relief
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 17: DISSOLUTION AND TERMINATION › 13 §555. Decree of dissolution filed with Secretary of State (REPEALED)

§555. Decree of dissolution filed with Secretary of State
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 19: FOREIGN CORPORATIONS › 13 §592. Filing of charter or certificate; officers and directors subject to penalties; validity of contracts not affected (REPEALED)

§592. Filing of charter or certificate; officers and directors subject to penalties; validity of contracts not affected
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 19: FOREIGN CORPORATIONS › 13 §593. Secretary of State may refuse to accept appointment or file papers (REPEALED)

§593. Secretary of State may refuse to accept appointment or file papers
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 19: FOREIGN CORPORATIONS › 13 §594. Increase or decrease of capital stock; filing of certificate (REPEALED)

§594. Increase or decrease of capital stock; filing of certificate
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 19: FOREIGN CORPORATIONS › 13 §595. License fee; changes in certificate or charter (REPEALED)

§595. License fee; changes in certificate or charter
(REPEALED)
SECTION HISTORY
PL 1969, c. 225, §9 (AMD). PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 19: FOREIGN CORPORATIONS › 13 §599. Right to sue and be sued; attachment; effect of agent's acts (REPEALED)

§599. Right to sue and be sued; attachment; effect of agent's acts
(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §25 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 21: FIDUCIARY SECURITY TRANSFERS (REPEALED) › 13 §642. Definitions (REPEALED)

§642. Definitions
(REPEALED)
SECTION HISTORY
PL 1979, c. 541, §A132 (AMD). PL 1997, c. 429, §C33 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 21: FIDUCIARY SECURITY TRANSFERS (REPEALED) › 13 §643. Inquiry into fiduciary relationship (REPEALED)

§643. Inquiry into fiduciary relationship
(REPEALED)
SECTION HISTORY
PL 1997, c. 429, §C33 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 21: FIDUCIARY SECURITY TRANSFERS (REPEALED) › 13 §644. Assignment by a fiduciary (REPEALED)

§644. Assignment by a fiduciary
(REPEALED)
SECTION HISTORY
PL 1997, c. 429, §C33 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 21: FIDUCIARY SECURITY TRANSFERS (REPEALED) › 13 §645. Evidence of appointment or incumbency (REPEALED)

§645. Evidence of appointment or incumbency
(REPEALED)
SECTION HISTORY
PL 1997, c. 429, §C33 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 21: FIDUCIARY SECURITY TRANSFERS (REPEALED) › 13 §647. Nonliability of corporation and transfer agent (REPEALED)

§647. Nonliability of corporation and transfer agent
(REPEALED)
SECTION HISTORY
PL 1997, c. 429, §C33 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 21: FIDUCIARY SECURITY TRANSFERS (REPEALED) › 13 §648. Nonliability of 3rd person (REPEALED)

§648. Nonliability of 3rd person
(REPEALED)
SECTION HISTORY
PL 1997, c. 429, §C33 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 21: FIDUCIARY SECURITY TRANSFERS (REPEALED) › 13 §651. Uniformity of interpretation (REPEALED)

§651. Uniformity of interpretation
(REPEALED)
SECTION HISTORY
PL 1997, c. 429, §C33 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22: THE PROFESSIONAL SERVICE CORPORATION ACT (REPEALED) › 13 §701. Short title (REPEALED)

§701. Short title
(REPEALED)
SECTION HISTORY
PL 1969, c. 411 (NEW). PL 2001, c. 640, §B1 (RP). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22: THE PROFESSIONAL SERVICE CORPORATION ACT (REPEALED) › 13 §702. Intent (REPEALED)

§702. Intent
(REPEALED)
SECTION HISTORY
PL 1969, c. 411 (NEW). PL 2001, c. 640, §B1 (RP). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22: THE PROFESSIONAL SERVICE CORPORATION ACT (REPEALED) › 13 §703. Definitions (REPEALED)

§703. Definitions
(REPEALED)
SECTION HISTORY
PL 1969, c. 411 (NEW). PL 1973, c. 625, §79 (AMD). PL 2001, c. 640, §B1 (RP). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22: THE PROFESSIONAL SERVICE CORPORATION ACT (REPEALED) › 13 §704. Exemptions (REPEALED)

§704. Exemptions
(REPEALED)
SECTION HISTORY
PL 1969, c. 411 (NEW). PL 1973, c. 625, §80 (AMD). PL 2001, c. 640, §B1 (RP). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22: THE PROFESSIONAL SERVICE CORPORATION ACT (REPEALED) › 13 §705. Corporate organization (REPEALED)

§705. Corporate organization
(REPEALED)
SECTION HISTORY
PL 1969, c. 411 (NEW). PL 1989, c. 613 (AMD). PL 1997, c. 313, §1 (AMD). PL 2001, c. 260, §F1 (AMD). PL 2001, c. 337, §1 (AMD). PL 2001, c. 471, §F1 (RPR). PL 2001, c. 640, §B1 (RP). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22: THE PROFESSIONAL SERVICE CORPORATION ACT (REPEALED) › 13 §706. Method of organization (REPEALED)

§706. Method of organization
(REPEALED)
SECTION HISTORY
PL 1969, c. 411 (NEW). PL 1971, c. 439, §12 (AMD). PL 2001, c. 640, §B1 (RP). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22: THE PROFESSIONAL SERVICE CORPORATION ACT (REPEALED) › 13 §707. Limitation (REPEALED)

§707. Limitation
(REPEALED)
SECTION HISTORY
PL 1969, c. 411 (NEW). PL 2001, c. 640, §B1 (RP). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22: THE PROFESSIONAL SERVICE CORPORATION ACT (REPEALED) › 13 §708. Interpretation; liability (REPEALED)

§708. Interpretation; liability
(REPEALED)
SECTION HISTORY
PL 1969, c. 411 (NEW). PL 1995, c. 141, §1 (RP).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22: THE PROFESSIONAL SERVICE CORPORATION ACT (REPEALED) › 13 §708-A. Interpretation; liability (REPEALED)

§708-A. Interpretation; liability
(REPEALED)
SECTION HISTORY
PL 1995, c. 141, §2 (NEW). PL 1995, c. 526, §1 (AMD). PL 2001, c. 640, §B1 (RP). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22: THE PROFESSIONAL SERVICE CORPORATION ACT (REPEALED) › 13 §709. Business transactions (REPEALED)

§709. Business transactions
(REPEALED)
SECTION HISTORY
PL 1969, c. 411 (NEW). PL 2001, c. 640, §B1 (RP). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22: THE PROFESSIONAL SERVICE CORPORATION ACT (REPEALED) › 13 §710. Capital stock (REPEALED)

§710. Capital stock
(REPEALED)
SECTION HISTORY
PL 1969, c. 411 (NEW). PL 2001, c. 640, §B1 (RP). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22: THE PROFESSIONAL SERVICE CORPORATION ACT (REPEALED) › 13 §711. Disqualifications (REPEALED)

§711. Disqualifications
(REPEALED)
SECTION HISTORY
PL 1969, c. 411 (NEW). PL 2001, c. 640, §B1 (RP). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22: THE PROFESSIONAL SERVICE CORPORATION ACT (REPEALED) › 13 §712. Alienation of shares (REPEALED)

§712. Alienation of shares
(REPEALED)
SECTION HISTORY
PL 1969, c. 411 (NEW). PL 2001, c. 640, §B1 (RP). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22: THE PROFESSIONAL SERVICE CORPORATION ACT (REPEALED) › 13 §713. Corporate and assumed names (REPEALED)

§713. Corporate and assumed names
(REPEALED)
SECTION HISTORY
PL 1969, c. 411 (NEW). PL 1971, c. 565, §§1-A (AMD). PL 1975, c. 439, §1 (AMD). PL 1981, c. 78 (AMD). PL 1993, c. 316, §7 (AMD). PL 2001, c. 640, §B1 (RP). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22: THE PROFESSIONAL SERVICE CORPORATION ACT (REPEALED) › 13 §714. Applicability of Title (REPEALED)

§714. Applicability of Title
(REPEALED)
SECTION HISTORY
PL 1969, c. 411 (NEW). PL 1971, c. 565, §2 (AMD). PL 2001, c. 640, §B1 (RP). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22: THE PROFESSIONAL SERVICE CORPORATION ACT (REPEALED) › 13 §715. Dissolutions (REPEALED)

§715. Dissolutions
(REPEALED)
SECTION HISTORY
PL 1969, c. 411 (NEW). PL 1971, c. 439, §13 (AMD). PL 2001, c. 640, §B1 (RP). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22: THE PROFESSIONAL SERVICE CORPORATION ACT (REPEALED) › 13 §716. Construction of law (REPEALED)

§716. Construction of law
(REPEALED)
SECTION HISTORY
PL 1969, c. 411 (NEW). PL 2001, c. 640, §B1 (RP). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22-A: MAINE PROFESSIONAL SERVICE CORPORATION ACT › Subchapter 1: GENERAL PROVISIONS › 13 §721. Short title

§721. Short title
This chapter may be known and cited as the "Maine Professional Service Corporation Act."   [PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
SECTION HISTORY
PL 2001, c. 640, §B2 (NEW). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22-A: MAINE PROFESSIONAL SERVICE CORPORATION ACT › Subchapter 1: GENERAL PROVISIONS › 13 §722. Application of Maine Business Corporation Act

§722. Application of Maine Business Corporation Act
The Maine Business Corporation Act applies to professional corporations, both domestic and foreign, to the extent not inconsistent with this chapter.   [PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
SECTION HISTORY
PL 2001, c. 640, §B2 (NEW). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22-A: MAINE PROFESSIONAL SERVICE CORPORATION ACT › Subchapter 2: CREATION › 13 §731. Election of professional corporation status

§731. Election of professional corporation status
1.  Mandatory coverage.
A qualified person performing any professional service described in section 723, subsection 7, paragraph A desiring to form a corporation shall incorporate as a professional corporation.
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
2.  Optional coverage.
A qualified person or persons performing any professional service described in section 723, subsection 7, paragraph B desiring to form a corporation may incorporate as a professional corporation.
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
3.  Filing requirement.
One or more persons may incorporate a professional corporation by delivering to the Secretary of State for filing articles of incorporation that state that the corporation is a professional corporation and the corporation's purpose is to render the specified professional service.
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
4.  Election to be covered.
A corporation incorporated under a general law of this State may elect professional corporation status by amending its articles of incorporation to comply with subsection 3 and section 736.
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
SECTION HISTORY
PL 2001, c. 640, §B2 (NEW). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22-A: MAINE PROFESSIONAL SERVICE CORPORATION ACT › Subchapter 2: CREATION › 13 §733. General powers

§733. General powers
A professional corporation has the powers enumerated in Title 13-C, section 302.   [PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
SECTION HISTORY
PL 2001, c. 640, §B2 (NEW). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22-A: MAINE PROFESSIONAL SERVICE CORPORATION ACT › Subchapter 2: CREATION › 13 §734. Rendering professional services

§734. Rendering professional services
1.  License required.
A domestic professional corporation or foreign professional corporation may render professional services in this State only through individuals licensed or otherwise authorized in this State to render the services.
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
2.  Scope.
Nothing in subsection 1 may be construed to:
A. Require an individual employed by a professional corporation to be licensed to perform services for the corporation if a license is not otherwise required;   [PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
B. Prohibit a licensed individual from rendering professional services in that individual's individual capacity even though that individual is a shareholder, director, officer, employee or agent of a domestic professional corporation or foreign professional corporation; or   [PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
C. Prohibit an individual licensed in another state from rendering professional services for a domestic professional corporation or foreign professional corporation in this State if not prohibited by the licensing authority having jurisdiction over such professional service.   [PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
SECTION HISTORY
PL 2001, c. 640, §B2 (NEW). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22-A: MAINE PROFESSIONAL SERVICE CORPORATION ACT › Subchapter 2: CREATION › 13 §735. Prohibited activities

§735. Prohibited activities
1.  Limited activities.
A professional corporation may not render any professional service or engage in any business or service other than the professional service and business authorized by its articles of incorporation and services or businesses reasonably related thereto.
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
2.  Investments.
Nothing in subsection 1 prohibits a professional corporation from investing its funds in real estate, mortgages, securities or any other type of investment.
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
SECTION HISTORY
PL 2001, c. 640, §B2 (NEW). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22-A: MAINE PROFESSIONAL SERVICE CORPORATION ACT › Subchapter 2: CREATION › 13 §736. Corporate name

§736. Corporate name
1.  Words required.
The name of a domestic professional corporation or of a foreign professional corporation authorized to transact business in this State, in addition to satisfying the requirements of Title 13‑C, sections 401 and 1506:
A. Must contain the words "chartered," "professional corporation," "professional association" or "service corporation" or the abbreviation "P.C.," "P.A." or "S.C.";   [PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
B. May not contain language stating or implying that it is incorporated for a purpose other than that authorized by section 732 and its articles of incorporation; and   [PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
C. Must conform with any rule adopted by the licensing authority having jurisdiction over a professional service described in the corporation's articles of incorporation.   [PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
2.  Assumed or fictitious name.
A domestic professional corporation or foreign professional corporation may render professional services and exercise its authorized powers under an assumed or fictitious name, as long as the corporation has met the requirements for filing an assumed or fictitious name under Title 13‑C, section 404.
[PL 2003, c. 344, Pt. B, §3 (AMD).]
SECTION HISTORY
PL 2001, c. 640, §B2 (NEW). PL 2001, c. 640, §B7 (AFF). PL 2003, c. 344, §B3 (AMD).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22-A: MAINE PROFESSIONAL SERVICE CORPORATION ACT › Subchapter 3: SHARES › 13 §741. Issuance of shares

§741. Issuance of shares
1.  Qualified shareholders.
A professional corporation may issue shares, fractional shares and rights or options to purchase shares only to:
A. Individuals who are authorized by law in this State or another state to render a professional service described in the corporation's articles of incorporation;   [PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
A-1. Nonlicensed individuals authorized to organize with licensed individuals pursuant to section 732, subsection 3;   [PL 2003, c. 344, Pt. D, §7 (NEW).]
B. General partnerships in which all the partners are qualified persons with respect to the professional corporation and in which at least one partner is authorized by law in this State to render a professional service described in the corporation's articles of incorporation;   [PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
C. Professional corporations, professional limited liability companies or professional limited liability partnerships, domestic or foreign, authorized by law in this State to render a professional service described in the corporation's articles of incorporation;   [PL 2003, c. 344, Pt. B, §4 (AMD).]
D. Any other entity that is authorized by law to provide the same professional service provided by the professional corporation; or   [PL 2003, c. 344, Pt. B, §4 (AMD).]
E. Any other person or entity, including employee stock ownership plans or programs and other employee ownership programs, that the licensing authority with jurisdiction over the professional corporation determines is qualified to hold shares of such a professional corporation.   [PL 2003, c. 344, Pt. B, §5 (NEW).]
[PL 2003, c. 344, Pt. B, §§4, 5 (AMD); PL 2003, c. 344, Pt. D, §7 (AMD).]
2.  Licensing authority jurisdiction.
If a licensing authority with jurisdiction over a profession considers it necessary to prevent violation of the ethical standards of the profession, the authority may adopt rules under its general rule-making authority or other regulatory authority to restrict or condition, or revoke in part, the authority of professional corporations subject to its jurisdiction to issue shares. A rule described in this subsection does not, of itself, make a shareholder of a professional corporation at the time the rule becomes effective a disqualified person.
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
3.  Unlawful shares void.
Shares issued in violation of this section or a rule described in subsection 2 are void.
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
SECTION HISTORY
PL 2001, c. 640, §B2 (NEW). PL 2001, c. 640, §B7 (AFF). PL 2003, c. 344, §§B4,5,D7 (AMD).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22-A: MAINE PROFESSIONAL SERVICE CORPORATION ACT › Subchapter 3: SHARES › 13 §742. Share transfer restriction

§742. Share transfer restriction
1.  Limit to transfers.
A shareholder of a professional corporation may transfer or pledge shares, fractional shares and rights or options to purchase shares of the corporation only to qualified persons.
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
2.  Other transfers void.
A transfer of shares made in violation of subsection 1, except one made by operation of law or court judgment, is void.
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
SECTION HISTORY
PL 2001, c. 640, §B2 (NEW). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22-A: MAINE PROFESSIONAL SERVICE CORPORATION ACT › Subchapter 3: SHARES › 13 §743. Compulsory acquisition of shares after death or disqualification of shareholder

§743. Compulsory acquisition of shares after death or disqualification of shareholder
1.  Triggering events.
A professional corporation must acquire or cause to be acquired by a qualified person the shares of its shareholder if:
A. The shareholder dies;   [PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
B. The shareholder becomes a disqualified person, except as provided in subsection 4; or   [PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
C. The shares are transferred by operation of law or court judgment to a disqualified person, except as provided in subsection 4.   [PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
2.  Agreements binding.
If a professional corporation's articles of incorporation or bylaws or a private agreement provides the terms, price and other conditions for the acquisition of the shares of a shareholder upon the occurrence of an event described in subsection 1, then that article, bylaw or private agreement is binding on the parties and is specifically enforceable.
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
3.  Corporate acquisition of shares.
In the absence of an article provision, bylaw provision or private agreement described in subsection 2, a professional corporation shall acquire the shares in accordance with section 744; except that, if the disqualified person rejects the corporation's purchase offer, either the person or the corporation may commence a proceeding under section 745 to determine the fair value of the shares.
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
4.  Limited disqualification.
In the absence of an article provision, bylaw provision or private agreement described in subsection 2, this section does not require the acquisition of shares in the event of a shareholder's becoming a disqualified person if the disqualification lasts no more than 5 months from the date the disqualification or the transfer of shares pursuant to subsection 1 occurs.
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
5.  Other benefits unaffected.
Nothing in this section or section 744 prevents or relieves a professional corporation from paying pension benefits or other deferred compensation for services rendered to a former shareholder if otherwise permitted by law.
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
SECTION HISTORY
PL 2001, c. 640, §B2 (NEW). PL 2001, c. 640, §B7 (AFF).
2023 Maine Revised Statutes › TITLE 13: CORPORATIONS › Part 1: CORPORATIONS GENERALLY › Chapter 22-A: MAINE PROFESSIONAL SERVICE CORPORATION ACT › Subchapter 3: SHARES › 13 §744. Acquisition procedure

§744. Acquisition procedure
1.  Written notice.
In the absence of an article provision, bylaw provision or private agreement described in section 743, subsection 2, if shares must be acquired under section 743, a professional corporation shall deliver a written notice to the executor or administrator of the estate of its deceased shareholder, or to the disqualified person or transferee, offering to purchase the shares at a price the corporation believes represents their fair value as of the date of death, disqualification or transfer. The offer notice must be accompanied by the corporation's balance sheet for a fiscal year ending not more than 16 months before the effective date of the offer notice, an income statement for that year, a statement of changes in shareholders' equity for that year and the latest available interim financial statements, if any.
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
2.  Option period.
A disqualified person has 30 days from the effective date of the notice provided pursuant to subsection 1 to accept the professional corporation's offer or demand that the corporation commence a proceeding under section 745 to determine the fair value of that disqualified person's shares. If the disqualified person accepts the offer, the corporation shall make payment for the shares within 60 days from the effective date of the offer notice, unless a later date is agreed on, upon the disqualified person's surrender of the shares to the corporation.
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
3.  Termination of interest.
After a professional corporation makes payment for shares in accordance with this section, a disqualified person has no further interest in those shares.
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
SECTION HISTORY
PL 2001, c. 640, §B2 (NEW). PL 2001, c. 640, §B7 (AFF).