Maine Revised Statutes Title 13 Sec. 1777 – Foreign associations
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Terms Used In Maine Revised Statutes Title 13 Sec. 1777
- 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.
- This subchapter: means the "Uniform Agricultural Cooperative Association Act. See Maine Revised Statutes Title 13 Sec. 1774
A foreign corporation that can qualify as an association, as defined in section 1774, may be authorized to do business in this State under this subchapter by complying with the laws relating to foreign corporations doing business in the State. It shall pay the same fees and charges as domestic associations. Upon such compliance it shall have all the rights and privileges of like domestic associations.