Maine § 13-C §1001 Authority to amend

Maine Statutes

§ 13-C §1001 — Authority to amend

Maine·Title 13-C MAINE BUSINESS CORPORATION ACT·Ch. 10 AMENDMENT OF ARTICLES OF INCORPORATION AND BYLAWS

1.Generally. A corporation may amend its articles of incorporation at any time to add or change a provision that, as of the effective date of the amendment, is required or permitted in the articles of incorporation or to delete a provision that is not required to be contained in the articles of incorporation.

2.No vested property right. A shareholder of a corporation does not have a vested property right resulting from any provision in the articles of incorporation, including provisions relating to management, control, capital structure, dividend entitlement or purpose or duration of the corporation.

3.Organized under special Act. If a corporation was organized under a special Act of the Legislature, the corporation may amend its articles of incorporation only if:

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1.
Generally.
A corporation may amend its articles of incorporation at any time to add or change a provision that, as of the effective date of the amendment, is required or permitted in the articles of incorporation or to delete a provision that is not required to be contained in the articles of incorporation.
2.
No vested property right.
A shareholder of a corporation does not have a vested property right resulting from any provision in the articles of incorporation, including provisions relating to management, control, capital structure, dividend entitlement or purpose or duration of the corporation.
3.
Organized under special Act.
If a corporation was organized under a special Act of the Legislature, the corporation may amend its articles of incorporation only if:

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