Maine Revised Statutes Title 13-B Sec. 109 – Reservation of power
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Terms Used In Maine Revised Statutes Title 13-B Sec. 109
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Acts of incorporation passed since March 17, 1831, including this Act, may be amended, altered or repealed by the Legislature as if express provision to amend, alter or repeal were made in them, unless they contain an express limitation. This section does not deprive the courts of any power that they have at common law over a corporation or its officer. [RR 1991, c. 2, §43 (COR).]
SECTION HISTORY
PL 1977, c. 525, §13 (NEW). RR 1991, c. 2, §43 (COR).