Maine § 13-C §781 Shareholder action to appoint custodian or receiver

Maine Statutes

§ 13-C §781 — Shareholder action to appoint custodian or receiver

Maine·Title 13-C MAINE BUSINESS CORPORATION ACT·Ch. 7 SHAREHOLDERS

1.Court may appoint. The Superior Court may appoint one or more persons to be custodians or, if the corporation is insolvent, to be receivers of and for a corporation in a proceeding by a shareholder when it is established that:

2.Remedies; procedures. The Superior Court:

3.Appointments; bonds. The Superior Court may appoint an individual, a domestic corporation or a foreign corporation authorized to transact business in this State as a custodian or receiver and may require the custodian or receiver to post bond, with or without sureties, in an amount the court directs.

4.Powers and duties. The Superior Court shall describe the powers and duties of the custodian or receiver in its appointing order, which may be amended from time to time. The powers include but are not limited to the fo

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1.
Court may appoint.
The Superior Court may appoint one or more persons to be custodians or, if the corporation is insolvent, to be receivers of and for a corporation in a proceeding by a shareholder when it is established that:
2.
Remedies; procedures.
The Superior Court:
3.
Appointments; bonds.
The Superior Court may appoint an individual, a domestic corporation or a foreign corporation authorized to transact business in this State as a custodian or receiver and may require the custodian or receiver to post bond, with or without sureties, in an amount the court directs.
4.
Powers and duties.
The Superior Court shall describe the powers and duties of the custodian or receiver in its appointing order, which may be amended from time to time. The powers include but are not limited to the following.
5.
Redesignations.
The Superior Court during a custodianship may redesignate the custodian as a receiver and during a receivership may redesignate the receiver as a custodian, if doing so is in the best interests of the corporation.
6.
Compensation and expenses.
The Superior Court from time to time during the custodianship or receivership may order compensation paid and expense disbursements or reimbursements made to the custodian or receiver from the assets of the corporation or proceeds from the sale of its assets.

Maine § 13-C §781 (Shareholder action to appoint custodian or receiver) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.