Maine Revised Statutes Title 8 Sec. 272 – Bonds
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Terms Used In Maine Revised Statutes Title 8 Sec. 272
- 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.
Every person, association or corporation licensed under this chapter shall, before said license is issued, give bond or irrevocable letter of credit to the State in such reasonable sum, not exceeding $100,000, as may be fixed by the commission, with a surety or sureties to be approved by the commission, conditioned to faithfully make the payments prescribed by this chapter and to keep its books and records and make reports as provided, and to conduct its racing in conformity with this chapter and the rules and regulations prescribed by the commission. [PL 2003, c. 401, §7 (AMD).]
SECTION HISTORY
PL 1969, c. 526, §2 (AMD). PL 2003, c. 401, §7 (AMD).