Maine Revised Statutes Title 13-C Sec. 1101 – Definitions
Current as of: 2023 | Check for updates
|
Other versions
As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
1. Eligible entity. “Eligible entity” means a domestic or foreign unincorporated entity or a domestic or foreign nonprofit corporation.
[PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
Terms Used In Maine Revised Statutes Title 13-C Sec. 1101
- 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.
- Eligible entity: means a domestic or foreign unincorporated entity or a domestic or foreign nonprofit corporation. See Maine Revised Statutes Title 13-C Sec. 1101
- Eligible interests: means interests and memberships. See Maine Revised Statutes Title 13-C Sec. 1101
- Merger: means a business combination pursuant to section 1102. See Maine Revised Statutes Title 13-C Sec. 1101
- party to a share exchange: means any domestic or foreign corporation or eligible entity that will:
A. See Maine Revised Statutes Title 13-C Sec. 1101Share exchange: means a business combination pursuant to section 1103. See Maine Revised Statutes Title 13-C Sec. 1101
2. Eligible interests. “Eligible interests” means interests and memberships.
[PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
3. Merger. “Merger” means a business combination pursuant to section 1102.
[PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
4. Party to a merger or party to a share exchange. “Party to a merger” or “party to a share exchange” means any domestic or foreign corporation or eligible entity that will:
A. Merge under a plan of merger; [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
B. Acquire shares or eligible interests of another corporation or an eligible entity in a share exchange; or [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
C. Have all of its shares or eligible interests or all of one or more classes or series of its shares or eligible interests acquired in a share exchange. [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
[PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
5. Share exchange. “Share exchange” means a business combination pursuant to section 1103.
[PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
6. Survivor. “Survivor” in a merger means the corporation or eligible entity into which one or more other corporations or eligible entities are merged. A survivor of a merger may preexist the merger or be created by the merger.
[PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
SECTION HISTORY
PL 2001, c. 640, §A2 (NEW). PL 2001, c. 640, §B7 (AFF).