Search results
Results from the WOW.Com Content Network
Maine is one of the states which prohibits the legislature from chartering corporations. This is dealt with in Article IV part Third Sections 13 and 14. Section 13 Special legislation. The Legislature shall, from time to time, provide, as far as practicable, by general laws, for all matters usually appertaining to special or private legislation.
The secretary of state also oversees and applies the state's corporation law. Corporations seeking to be chartered in Maine do so through the secretary's office. The secretary has oversight over Maine's commercial law and application of the Uniform Commercial Code. The secretary's office appoints and regulates the state's notaries public. [8] [2]
The Model Business Corporation Act (MBCA) is a model act promulgated and periodically amended by the Corporate Laws Committee of the Business Law Section of the American Bar Association (Committee). The MBCA had been adopted by 36 states and other jurisdictions. [ 1 ]
The Uniform Limited Liability Company Act (ULLCA), which includes a 2006 revision called the Revised Uniform Limited Liability Company Act, is a uniform act (similar to a model statute), proposed by the National Conference of Commissioners on Uniform State Laws ("NCCUSL") for the governance of limited liability companies (often called LLCs) by U.S. states.
A constituency statute is a term in US corporate law for a rule that requires a board of directors to pay regard to the interests of all corporate stakeholders in their decision making. A constituency statute is intended to give directors of corporations the discretion to balance the interests of stakeholders, rather than have to solely focus ...
To be a member of the legislature, one must be at least 21 years of age, have to have been a citizen of the US for five years, have been a resident of Maine for one year, and for the 3 months next preceding the time of this person's election shall have been and during the period for which elected continue to be, a resident in the district represented.
A corporation sole is a legal entity consisting of a single ("sole") incorporated office, occupied by a single ("sole") natural person. [1] [2] This structure allows corporations (often religious corporations or Commonwealth governments) to pass without interruption from one officeholder to the next, giving positions legal continuity with subsequent officeholders having identical powers and ...
The articles of incorporation outline the governance of a corporation along with the corporate bylaws and the corporate statutes in the state where articles of incorporation are filed. To amend a corporate charter, the amendment must usually be approved by the company's board of directors and voted on by the company's shareholders.