Maine § 13 §1749 Membership

Maine Statutes

§ 13 §1749 — Membership

Maine § 13 §1749

Title 13CORPORATIONS

Part 2CORPORATIONS WITHOUT CAPITAL

Ch. 85COOPERATIVES

This text of Maine § 13 §1749 (Membership) 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 §1749 (2026).

Text

1.Capital stock. A cooperative affordable housing corporation must be organized on a membership basis with capital stock.

2.Requirements. A cooperative affordable housing corporation must have one class of stock and one class of members. The designation, qualifications, requirements, method of acceptance and incidents of membership must be set forth in the articles of incorporation or the bylaws.

3.Transfers. A member may not transfer membership except as permitted in the articles of incorporation or the bylaws.

4.Termination. The articles of incorporation or the bylaws may provide for termination of membership and the conditions and terms of termination.

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1.
Capital stock.
A cooperative affordable housing corporation must be organized on a membership basis with capital stock.
2.
Requirements.
A cooperative affordable housing corporation must have one class of stock and one class of members. The designation, qualifications, requirements, method of acceptance and incidents of membership must be set forth in the articles of incorporation or the bylaws.
3.
Transfers.
A member may not transfer membership except as permitted in the articles of incorporation or the bylaws.
4.
Termination.
The articles of incorporation or the bylaws may provide for termination of membership and the conditions and terms of termination.