Maine Revised Statutes Title 13-C Sec. 1801 – Application and effect of chapter
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1. Application of chapter. This chapter applies to all benefit corporations.
[PL 2019, c. 328, §1 (NEW).]
Terms Used In Maine Revised Statutes Title 13-C Sec. 1801
- Benefit corporation: means a corporation:
A. See Maine Revised Statutes Title 13-C Sec. 1802Corporation: 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. Statute: A law passed by a legislature.
2. Application of corporation law generally. This chapter does not create an implication that a contrary or different rule of law applies to a corporation that is not a benefit corporation. This chapter does not affect a statute or rule of law that applies to a corporation that is not a benefit corporation.
[PL 2019, c. 328, §1 (NEW).]
3. Laws applicable. Except as otherwise provided in this chapter, this Title is generally applicable to all benefit corporations. A benefit corporation may be subject simultaneously to this chapter and Title 13, chapter 22?A. This chapter supersedes other provisions of this Title and Title 13, chapter 22?A with regard to benefit corporations.
[PL 2019, c. 328, §1 (NEW).]
4. Limit on articles and bylaws. A provision of the articles of incorporation or bylaws of a benefit corporation may not limit, be inconsistent with or supersede a provision of this chapter.
[PL 2019, c. 328, §1 (NEW).]
SECTION HISTORY
PL 2019, c. 328, §1 (NEW).