Maine Statutes
§ 23 §5156 — Trustees taking possession have corporate powers
Maine § 23 §5156
This text of Maine § 23 §5156 (Trustees taking possession have corporate powers) 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. 23, § 23 §5156 (2026).
Text
If the bondholders so determine, the trustees shall take possession of the road and all other property covered by the mortgage and have all the rights and powers and be subject to all the obligations of the directors and corporation of the road and may prosecute and defend suits in their own name as trustees.
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Legislative History
PL 1987, c. 141, §A4 (NEW).
Nearby Sections
15
§ 23 §51
Appointment; tenure; reports§ 23 §5121
Fares and tolls established§ 23 §5122
Rights of ticket holders§ 23 §5124
Sale of limited tickets§ 23 §5141
Intersecting roads§ 23 §5143
Equal facilities to all expresses§ 23 §5144
Discontinuance of service§ 23 §5151
Shares§ 23 §5152
Rights of coupon holders§ 23 §5155
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Bluebook (online)
Maine § 23 §5156, Counsel Stack Legal Research, https://law.counselstack.com/statute/me/23%20%C2%A75156.