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Terms Used In Maine Revised Statutes Title 4 Sec. 811

  • 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.
“Person” means any individual, corporation, partnership or association. [PL 1965, c. 92, §2 (NEW).]
SECTION HISTORY

PL 1965, c. 92, §2 (NEW).