Maine Statutes
§ 13 §2194 — Purchase by association
Maine § 13 §2194
JurisdictionMaine
Title 13CORPORATIONS
Part 2CORPORATIONS WITHOUT CAPITAL
Ch. 87FISH MARKETING ASSOCIATIONS
This text of Maine § 13 §2194 (Purchase by association) 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 §2194 (2026).
Text
An association may, at any time, as specified in the bylaws, except when the debts of the association exceed 50% of its assets, buy in or purchase its common stock at the book value thereof, as conclusively determined by the board of directors and pay for it in cash within one year thereafter.
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Nearby Sections
15
§ 13 §2101
Board of directors§ 13 §2102
-- meetings§ 13 §2103
-- vacancies§ 13 §2105
Compensation§ 13 §2106
Charges; petition§ 13 §2107
Notice; hearing§ 13 §2108
Vote; time; majority required§ 13 §2151
Qualifications§ 13 §2152
Certificate§ 13 §2153
Liability for debts§ 13 §2154
Meetings; place§ 13 §2155
Expulsion; payment for interest§ 13 §2191
Payment; common; ownership limitationsCite This Page — Counsel Stack
Bluebook (online)
Maine § 13 §2194, Counsel Stack Legal Research, https://law.counselstack.com/statute/me/13%20%C2%A72194.