Maine § 13 §1760 Net income; apportionment

Maine Statutes

§ 13 §1760 — Net income; apportionment

Maine·Title 13 CORPORATIONS·Part 2 CORPORATIONS WITHOUT CAPITAL·Ch. 85 COOPERATIVES

1.Apportionment. Subject to subsection 2, the board of directors of a cooperative affordable housing corporation may apportion annually the remainder of its net income in one or more of the following ways:

2.Cost reduction. This section does not prevent a cooperative affordable housing corporation from disposing of its net income by reducing the cost of facilities or services or by applying the net income otherwise for the common benefit of its members.

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1.
Apportionment.
Subject to subsection 2, the board of directors of a cooperative affordable housing corporation may apportion annually the remainder of its net income in one or more of the following ways:
2.
Cost reduction.
This section does not prevent a cooperative affordable housing corporation from disposing of its net income by reducing the cost of facilities or services or by applying the net income otherwise for the common benefit of its members.

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