Maine Revised Statutes Title 13 Sec. 1750 – Bylaws; minimum requirements
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Terms Used In Maine Revised Statutes Title 13 Sec. 1750
- Cooperative affordable housing corporation: means a domestic corporation that is organized under or elects to be governed by the provisions of this subchapter. See Maine Revised Statutes Title 13 Sec. 1742
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Member: means a person who owns a cooperative interest. See Maine Revised Statutes Title 13 Sec. 1742
The bylaws of a cooperative affordable housing corporation must contain procedures under which the cooperative affordable housing corporation‘s possessory remedy will be pursued in the event of a member‘s default and the rights of a defaulting member, in accordance with section 1755, subsection 2. [PL 1993, c. 300, §1 (NEW).]
SECTION HISTORY
PL 1993, c. 300, §1 (NEW).