There is a newer version of the Maine Revised Statutes
2012 Maine Revised Statutes
TITLE 13: CORPORATIONS
Chapter 87: FISH MARKETING ASSOCIATIONS
13 §2194. Purchase by association
13 ME Rev Stat § 2194 (2012 through 125th Legis) What's This?
Part 2: CORPORATIONS WITHOUT CAPITAL
Subchapter 5: STOCK
§2194. Purchase by association
An association may, at any time, as specified in the bylaws, except when the debts of the association exceed 50% of its assets, buy in or purchase its common stock at the book value thereof, as conclusively determined by the board of directors and pay for it in cash within one year thereafter.
Disclaimer: These codes may not be the most recent version. Maine may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
