Maine Revised Statutes Title 13-B Sec. 701 – Board of directors
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Terms Used In Maine Revised Statutes Title 13-B Sec. 701
- 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.
The activities of a corporation must be managed by a board of directors. Directors need not be residents of this State or members of the corporation unless required by the articles of incorporation or the bylaws. The articles of incorporation or the bylaws may prescribe other qualifications for the directors. [PL 1991, c. 85 (AMD).]
Boards of directors shall ensure that no employee of the corporation may be terminated for contacting a director or directors. Directors may not preclude contact between employees of the corporation and members of the board of directors. [PL 1991, c. 85 (NEW).]
SECTION HISTORY
PL 1977, c. 525, §13 (NEW). PL 1991, c. 85 (AMD).