Maine Revised Statutes Title 13-B Sec. 1303 – False and misleading statements in documents required to be filed with Secretary of State
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1. Penalties. No person shall sign any document required or permitted to be delivered for filing with the Secretary of State by any corporation, domestic or foreign, when that person knows that the document contains any untrue statement of a material fact or omits to state a material fact necessary in order to make the statements contained in the document, when considered in the light of the circumstances under which they were made, not misleading. Any violation of this subsection shall be a civil violation for which a forfeiture of not more than $25 may be adjudged.
[PL 1977, c. 525, §13 (NEW).]
Terms Used In Maine Revised Statutes Title 13-B Sec. 1303
- 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.
2. Liable. Any person who violates subsection 1 shall be liable to any person who is damaged thereby.
[PL 1977, c. 525, §13 (NEW).]
SECTION HISTORY
PL 1977, c. 525, §13 (NEW).