Maine § 13-C §641 Shareholders' preemptive rights

Maine Statutes

§ 13-C §641 — Shareholders' preemptive rights

Maine·Title 13-C MAINE BUSINESS CORPORATION ACT·Ch. 6 SHARES AND DISTRIBUTIONS

1.Share includes. For purposes of this section, "share" includes a security convertible into or carrying a right to subscribe for or acquire shares.

2.No preemptive right absent statement in articles of incorporation. The shareholders of a corporation do not have a preemptive right to acquire the corporation's unissued shares except to the extent the articles of incorporation provide.

3.Statement. A statement included in the articles of incorporation that "the corporation elects to have preemptive rights," or containing words of similar import, means that the principles set out in paragraphs A to F apply except to the extent the articles of incorporation expressly provide otherwise.

4.Preemptive rights. Nothing in this section detracts from or takes away the preemptive rights that pert

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1.
Share includes.
For purposes of this section, "share" includes a security convertible into or carrying a right to subscribe for or acquire shares.
2.
No preemptive right absent statement in articles of incorporation.
The shareholders of a corporation do not have a preemptive right to acquire the corporation's unissued shares except to the extent the articles of incorporation provide.
3.
Statement.
A statement included in the articles of incorporation that "the corporation elects to have preemptive rights," or containing words of similar import, means that the principles set out in paragraphs A to F apply except to the extent the articles of incorporation expressly provide otherwise.
4.
Preemptive rights.
Nothing in this section detracts from or takes away the preemptive rights that pertained to any shares of a corporation that were issued and outstanding on June 30, 2003. The rights may be altered by an amendment adopted pursuant to chapter 10.

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