Maine Revised Statutes Title 13 Sec. 1776 – Use of word “cooperative”
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Terms Used In Maine Revised Statutes Title 13 Sec. 1776
- Association: means a corporation organized under this subchapter, or a similar domestic corporation, or a foreign association or corporation if authorized to do business in this State, organized under any general or special Act as a cooperative association for the mutual benefit of its members, as agricultural producers, and which confines its operations to purposes authorized by this subchapter and restricts the return on the stock or membership capital and the amount of its business with nonmembers to the limits placed thereon by this subchapter for associations organized hereunder. See Maine Revised Statutes Title 13 Sec. 1774
- 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.
- Foreign association: means an association or corporation not formed under the laws of this State. See Maine Revised Statutes Title 13 Sec. 1774
- Person: includes an individual, a partnership, a corporation and an association. See Maine Revised Statutes Title 13 Sec. 1774
- Statute: A law passed by a legislature.
- This subchapter: means the "Uniform Agricultural Cooperative Association Act. See Maine Revised Statutes Title 13 Sec. 1774
No person, firm, corporation or association, domestic or foreign, hereafter commencing business in this State shall use the word “cooperative” as a part of its corporate or business name unless it has complied with this subchapter or some other statute of this State relating to cooperative associations. A foreign association organized under and complying with the cooperative law of the state of such association’s creation shall be entitled to use the term “cooperative” in this State if it has obtained the privilege of doing business in this State.