Maine § 13 §1731 Procedure

Maine Statutes

§ 13 §1731 — Procedure

Maine § 13 §1731

Title 13CORPORATIONS

Part 2CORPORATIONS WITHOUT CAPITAL

Ch. 85COOPERATIVES

This text of Maine § 13 §1731 (Procedure) 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. 13, § 13 §1731 (2026).

Text

An association may, at any regular or special meeting legally called, be directed to dissolve by a vote of 2/3 of the entire membership. By a vote of a majority of the members voting, 3 of their number shall be designated as trustees, who shall, on behalf of the association and within a time fixed in their designation or within any extension thereof, liquidate its assets and shall distribute them in the manner set forth in this section. In case of any dissolution of an association, its assets shall be distributed in the following manner and order:

1.Paying debts and expenses. By paying its debts and expenses;

2.Amounts paid by members. By returning to the members the par value of their shares or of their membership certificates, returning to the subscribers the amounts paid on their subs

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An association may, at any regular or special meeting legally called, be directed to dissolve by a vote of 2/3 of the entire membership. By a vote of a majority of the members voting, 3 of their number shall be designated as trustees, who shall, on behalf of the association and within a time fixed in their designation or within any extension thereof, liquidate its assets and shall distribute them in the manner set forth in this section. In case of any dissolution of an association, its assets shall be distributed in the following manner and order:
1.
Paying debts and expenses.
By paying its debts and expenses;
2.
Amounts paid by members.
By returning to the members the par value of their shares or of their membership certificates, returning to the subscribers the amounts paid on their subscriptions and returning to the patrons the amount of savings returns credited to their accounts toward the purchase of shares or membership certificates; and
3.
Paying patrons or giving to nonprofit associations.
By distributing any surplus in either or both of the following ways as the articles may provide: