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2012 Maine Revised Statutes
TITLE 13: CORPORATIONS
Chapter 87: FISH MARKETING ASSOCIATIONS
13 §2155. Expulsion; payment for interest


13 ME Rev Stat § 2155 (2012 through 125th Legis) What's This?

Part 2: CORPORATIONS WITHOUT CAPITAL

Subchapter 4: MEMBERS

§2155. Expulsion; payment for interest

In case of the expulsion of a member, and where the bylaws do not provide any procedure or penalty, the board of directors shall equitably and conclusively appraise his property interest in the association and shall fix the amount thereof in money, which shall be paid to him within one year after such expulsion.

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