Terms Used In Maine Revised Statutes Title 13 Sec. 337

  • 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.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
When a suit or prosecution is pending for a violation, either of sections 334 to 336 or to enforce the liabilities created by Title 13?C, section 833, the clerk or person having custody of the books of the corporation shall, upon reasonable written notice, produce them on trial; and for neglect or refusal to do so, the person is liable to the same fine or imprisonment as the party on trial would be. [PL 2003, c. 344, Pt. D, §6 (AMD).]
SECTION HISTORY

PL 1971, c. 565, §1 (AMD). PL 2003, c. 344, §D6 (AMD).