Maine § 13-C §1406 Effect of dissolution

Maine Statutes

§ 13-C §1406 — Effect of dissolution

Maine § 13-C §1406

Title 13-CMAINE BUSINESS CORPORATION ACT

Ch. 14DISSOLUTION

This text of Maine § 13-C §1406 (Effect of dissolution) 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-C, § 13-C §1406 (2026).

Text

1.Extension of corporate existence. A dissolved corporation continues its corporate existence but may not carry on any business except that which is appropriate to wind up and liquidate its business and affairs, including:

2.Dissolution; exclusions. Dissolution of a corporation does not:

3.Abatement of action.

4.Transfer of property. Those shareholders of the corporation and their successors in interest who, collectively, represent a majority of the voting power of the corporation are empowered to act as liquidating trustees to take all actions necessary or appropriate to distribute or dispose of any undistributed property of the corporation if:

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1.
Extension of corporate existence.
A dissolved corporation continues its corporate existence but may not carry on any business except that which is appropriate to wind up and liquidate its business and affairs, including:
2.
Dissolution; exclusions.
Dissolution of a corporation does not:
3.
Abatement of action.
4.
Transfer of property.
Those shareholders of the corporation and their successors in interest who, collectively, represent a majority of the voting power of the corporation are empowered to act as liquidating trustees to take all actions necessary or appropriate to distribute or dispose of any undistributed property of the corporation if: