Maine Revised Statutes Title 13-C Sec. 754 – Stay of proceedings
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Terms Used In Maine Revised Statutes Title 13-C Sec. 754
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- 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.
- Derivative proceeding: means a civil suit in the right of a domestic corporation or, to the extent provided in section 758, in the right of a foreign corporation. See Maine Revised Statutes Title 13-C Sec. 751
If the corporation commences an inquiry into the allegations made in the complaint or demand under section 753, the court may stay any derivative proceeding for such period as the court considers appropriate. [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).