Maine § 13-C §742 Voting agreements

Maine Statutes

§ 13-C §742 — Voting agreements

Maine § 13-C §742

Title 13-CMAINE BUSINESS CORPORATION ACT

Ch. 7SHAREHOLDERS

This text of Maine § 13-C §742 (Voting agreements) 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 §742 (2026).

Text

1.Creation of voting agreement. Two or more shareholders may provide for the manner in which they will vote their shares by signing an agreement for that purpose. A voting agreement created under this section is not subject to the provisions of section 741.

2.Enforceable. A voting agreement created under this section is specifically enforceable.

3.Rescission. Any purchaser of shares for value that are subject to a voting agreement who, at the time of purchase, did not have knowledge of the existence of the agreement is entitled to rescission of the purchase against the transferor of the shares. An action to enforce the right of rescission authorized by this subsection must be commenced within the earlier of 180 days after discovery of the existence of the agreement or 2 years after the

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1.
Creation of voting agreement.
Two or more shareholders may provide for the manner in which they will vote their shares by signing an agreement for that purpose. A voting agreement created under this section is not subject to the provisions of section 741.
2.
Enforceable.
A voting agreement created under this section is specifically enforceable.
3.
Rescission.
Any purchaser of shares for value that are subject to a voting agreement who, at the time of purchase, did not have knowledge of the existence of the agreement is entitled to rescission of the purchase against the transferor of the shares. An action to enforce the right of rescission authorized by this subsection must be commenced within the earlier of 180 days after discovery of the existence of the agreement or 2 years after the time of purchase of the shares.