Maine § 13 §1760 Net income; apportionment

Maine Statutes

§ 13 §1760 — Net income; apportionment

Maine § 13 §1760

Title 13CORPORATIONS

Part 2CORPORATIONS WITHOUT CAPITAL

Ch. 85COOPERATIVES

This text of Maine § 13 §1760 (Net income; apportionment) 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 §1760 (2026).

Text

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.