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Terms Used In Maine Revised Statutes Title 32 Sec. 220-C

  • 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.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
A license under this subchapter may be issued only to an individual, and licensure must be determined on individual and personal qualifications. A firm, corporation, company, partnership or limited liability company may not be licensed under this chapter. [PL 2013, c. 217, Pt. C, §3 (NEW).]
SECTION HISTORY

PL 2013, c. 217, Pt. C, §3 (NEW).