Maine Revised Statutes Title 14 Sec. 2619 – Executor or administrator liable as trustee; stockholders
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Terms Used In Maine Revised Statutes Title 14 Sec. 2619
- 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.
- Executor: A male person named in a will to carry out the decedent
- Legacy: A gift of property made by will.
- Trustee: A person or institution holding and administering property in trust.
Any debt or legacy due from an executor or administrator and any goods, effects and credits in his hands, as such, may be attached by trustee process. The amount which a stockholder of a corporation is liable to pay to a judgment creditor thereof may be attached by a creditor of such judgment creditor by trustee process served on such stockholder at any time after the commencement of the judgment creditor’s action against him, and before the rendition of judgment therein.