Maine Revised Statutes Title 13 Sec. 771 – Authority to transact business
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1. Prohibition. Except as provided in subsection 3, a foreign professional corporation may not transact business in this State until it obtains authority from the Secretary of State.
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
Terms Used In Maine Revised Statutes Title 13 Sec. 771
- 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 professional corporation: means a corporation or association for profit incorporated for the purpose of rendering professional services under law other than the law of this State. See Maine Revised Statutes Title 13 Sec. 723
- Majority: when used in reference to age shall mean the age of 18 and over. See Maine Revised Statutes Title 1 Sec. 72
- Professional corporation: means a corporation for profit, other than a foreign professional corporation, subject to the provisions of this chapter. See Maine Revised Statutes Title 13 Sec. 723
- Professional service: means the professional services provided by the following persons to the extent they are required to be licensed under state law:
2. Preconditions. A foreign professional corporation may not obtain authority to transact business in this State unless:
A. Its corporate name satisfies the requirements of section 736; [PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
B. It is incorporated for one or more of the purposes described in section 732; and [PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
C. All of its shareholders, not less than a majority of its directors and all of its officers other than its clerk, secretary and treasurer, if any, are licensed in one or more states to render a professional service described in its articles of incorporation. [PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
3. Office required. A foreign professional corporation is not required to obtain authority to transact business in this State unless it maintains or intends to maintain an office in this State for conduct of business or professional practice.
[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
SECTION HISTORY
PL 2001, c. 640, §B2 (NEW). PL 2001, c. 640, §B7 (AFF).