2012 Maine Revised Statutes
TITLE 13: CORPORATIONS
Chapter 87: FISH MARKETING ASSOCIATIONS
13 §2283. Sales and resales; payments to members; deductions
Part 2: CORPORATIONS WITHOUT CAPITAL
Subchapter 7: MARKETING CONTRACTS
§2283. Sales and resales; payments to members; deductions
The contract may provide that the association may sell or resell the fishery products delivered by its members, with or without taking title thereto; and pay over to its members the resale price, after deducting all necessary selling, overhead and other costs and expenses, including interest on preferred stock, not exceeding 8% per annum, and reserves for retiring the stock, if any; and other proper reserves; and interest not exceeding 8% per annum upon common stock.
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.
