Maine § 13 §752 Voting of shares

Maine Statutes

§ 13 §752 — Voting of shares

Maine·Title 13 CORPORATIONS·Part 1 CORPORATIONS GENERALLY·Ch. 22-A MAINE PROFESSIONAL SERVICE CORPORATION ACT

1.Right to vote. Except as otherwise provided in this section, only a qualified person may vote the shares of a professional corporation.

2.Proxies. Only a qualified person may be appointed a proxy to vote shares of a professional corporation.

3.Voting trusts. A voting trust with respect to shares of a professional corporation is not valid unless all of its trustees and beneficiaries are qualified persons; except that, if a beneficiary who is a qualified person dies or becomes a disqualified person, a voting trust valid under this subsection continues to be valid for 10 months after the date of death or for 5 months after the disqualification occurred.

4.Limited voting right. Any shares transferred to a disqualified person by reason of the death of a qualified person or by operation of

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1.
Right to vote.
Except as otherwise provided in this section, only a qualified person may vote the shares of a professional corporation.
2.
Proxies.
Only a qualified person may be appointed a proxy to vote shares of a professional corporation.
3.
Voting trusts.
A voting trust with respect to shares of a professional corporation is not valid unless all of its trustees and beneficiaries are qualified persons; except that, if a beneficiary who is a qualified person dies or becomes a disqualified person, a voting trust valid under this subsection continues to be valid for 10 months after the date of death or for 5 months after the disqualification occurred.
4.
Limited voting right.
Any shares transferred to a disqualified person by reason of the death of a qualified person or by operation of law may be voted by such disqualified person only for the purposes of amending the articles of incorporation to convert to a regular business corporation or dissolving the professional corporation.

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