Maine § 10 §1495-I Insolvency and liquidation

Maine Statutes

§ 10 §1495-I — Insolvency and liquidation

Maine § 10 §1495-I

Title 10COMMERCE AND TRADE

Part 3REGULATION OF TRADE

Ch. 222PAYROLL PROCESSORS

This text of Maine § 10 §1495-I (Insolvency and liquidation) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 10, § 10 §1495-I (2026).

Text

1.Voluntary liquidation. A payroll processor who voluntarily ceases to do business in the State is subject to the following provisions.

2.Involuntary liquidation. A payroll processor who is no longer eligible to do business in this State is subject to the following provisions.

3.Judicial review. A payroll processor closed by action of the administrator pursuant to this chapter may bring an action challenging the administrator's appointment of receiver in Superior Court of Kennebec County or of the county in which the processor transacts business within 10 days after the administrator appoints a receiver. The court shall uphold the administrator's finding that a payroll processor is insolvent or that its condition is such as to render its further proceedings hazardous to the public or to

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1.
Voluntary liquidation.
A payroll processor who voluntarily ceases to do business in the State is subject to the following provisions.
2.
Involuntary liquidation.
A payroll processor who is no longer eligible to do business in this State is subject to the following provisions.
3.
Judicial review.
A payroll processor closed by action of the administrator pursuant to this chapter may bring an action challenging the administrator's appointment of receiver in Superior Court of Kennebec County or of the county in which the processor transacts business within 10 days after the administrator appoints a receiver. The court shall uphold the administrator's finding that a payroll processor is insolvent or that its condition is such as to render its further proceedings hazardous to the public or to those having funds in its custody and shall uphold the appointment of a receiver unless the court finds that the administrator's action was arbitrary and capricious.