Maine § 5 §13210-A Operation, termination and dissolution of corporation

Maine Statutes

§ 5 §13210-A — Operation, termination and dissolution of corporation

Maine § 5 §13210-A

Title 5ADMINISTRATIVE PROCEDURES AND SERVICES

Part 18-AECONOMIC AND COMMUNITY DEVELOPMENT

Ch. 393MAINE SPACE CORPORATION

This text of Maine § 5 §13210-A (Operation, termination and dissolution of corporation) 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. 5, § 5 §13210-A (2026).

Text

1.Operation of corporation. Notwithstanding Title 13‑B, section 102, subsection 4, paragraph C, the corporation shall operate as a nonprofit corporation under Title 13‑B, section 202 consistent with its composition and broad public purposes.

2.Prerequisites for dissolution. The corporation may not be dissolved until:

3.Dedication of funds. The corporation's organizing document must contain a provision requiring that upon the dissolution of the corporation, all funds, assets and other property of the corporation must be distributed for one or more exempt purposes within the meaning of the United States Internal Revenue Code of 1986, Section 501(c)(3) or distributed to the State for a public purpose.

Free access — add to your briefcase to read the full text and ask questions with AI

1.
Operation of corporation.
Notwithstanding Title 13‑B, section 102, subsection 4, paragraph C, the corporation shall operate as a nonprofit corporation under Title 13‑B, section 202 consistent with its composition and broad public purposes.
2.
Prerequisites for dissolution.
The corporation may not be dissolved until:
3.
Dedication of funds.
The corporation's organizing document must contain a provision requiring that upon the dissolution of the corporation, all funds, assets and other property of the corporation must be distributed for one or more exempt purposes within the meaning of the United States Internal Revenue Code of 1986, Section 501(c)(3) or distributed to the State for a public purpose.

Legislative History

PL 2025, c. 258, §5 (NEW).

Nearby Sections

2

§ 5 §13210

Termination of corporation

§ 5 §13210-A

Operation, termination and dissolution of corporation

View on official source ↗

Cite This Page — Counsel Stack

Bluebook (online)

Maine § 5 §13210-A, Counsel Stack Legal Research, https://law.counselstack.com/statute/me/5%20%C2%A713210-A.