Maine Revised Statutes Title 5 Sec. 13205 – Property of corporation
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The corporation may hold and acquire property as set out in this section. [PL 2021, c. 631, §1 (NEW).]
1. Lease or sale. Properties may be leased, purchased or sold to develop and operate the Maine Space Complex as determined appropriate by the corporation. Resources acquired as a result of the lease or sale of these properties become operating revenues or assets of the corporation.
[PL 2021, c. 631, §1 (NEW).]
Terms Used In Maine Revised Statutes Title 5 Sec. 13205
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- complex: means the Maine Space Complex established pursuant to section 13203, subsection 1. See Maine Revised Statutes Title 5 Sec. 13202
- 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.
- Corporation: means the Maine Space Corporation established in section 13201. See Maine Revised Statutes Title 5 Sec. 13202
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Operating revenues: means funds available to the corporation from fees, fares and rental or sale of property and miscellaneous revenue and interest not otherwise pledged or dedicated. See Maine Revised Statutes Title 5 Sec. 13202
- Personal property: All property that is not real property.
2. Authority for transfers of interest in land to corporation. Upon the corporation’s request, on reasonable and fair terms and conditions and without the necessity for advertisement, order of court or action or formality other than the regular and formal action of the authorities concerned, counties, municipalities, public agencies or instrumentalities of the State, public service corporations and special districts may lease, lend, grant or convey to the corporation real or personal property or rights in that property that may be necessary or convenient for the effectuation of the authorized purposes of the corporation, including real and personal property or rights in that property already devoted to public use. As used in this subsection, “public service corporation” includes a public utility as defined in Title 35?A, section 102, subsection 13 and a corporation under Title 13?C.
[PL 2021, c. 631, §1 (NEW).]
SECTION HISTORY
PL 2021, c. 631, §1 (NEW).