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2012 Maine Revised Statutes
TITLE 13: CORPORATIONS
Chapter 85: COOPERATIVES
13 §1975. Formation of employee cooperative corporation; revocation


13 ME Rev Stat § 1975 (2012 through 125th Legis) What's This?

Part 2: CORPORATIONS WITHOUT CAPITAL

Subchapter 3: EMPLOYEE COOPERATIVE CORPORATIONS

§1975. Formation of employee cooperative corporation; revocation

1. Election. Any corporation organized under former Title 13-A or Title 13-C may elect to be governed as an employee cooperative under this subchapter, by so stating in its articles of incorporation or articles of amendment filed in accordance with Title 13-C.

[ RR 2001, c. 2, Pt. B, §31 (COR); RR 2001, c. 2, Pt. B, §58 (AFF) .]

2. Revocation. An employee cooperative may revoke its election under this subchapter by a vote of 2/3 of the members and through articles of amendment duly filed in accordance with Title 13-C.

[ RR 2001, c. 2, Pt. B, §31 (COR); RR 2001, c. 2, Pt. B, §58 (AFF) .]

SECTION HISTORY

1983, c. 136, (NEW). RR 2001, c. 2, §B31 (COR). RR 2001, c. 2, §B58 (AFF).

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