Maine Statutes
§ 23 §5167 — Application of funds
Maine § 23 §5167
This text of Maine § 23 §5167 (Application of funds) 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 §5167 (2026).
Text
The directors shall apply the money realized from the assessments solely to the redemption of the prior mortgage until it is fully paid and then all the property, rights and interests secured by the mortgage vest in the new corporation.
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Legislative History
PL 1987, c. 141, §A4 (NEW).
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Bluebook (online)
Maine § 23 §5167, Counsel Stack Legal Research, https://law.counselstack.com/statute/me/23%20%C2%A75167.