A cooperative affordable housing corporation may not consolidate or merge with another corporation other than a cooperative affordable housing corporation. Two or more cooperative affordable housing corporations may consolidate or merge in accordance with Title 13‑C, chapter 11. Cooperative affordable housing corporations may not engage in mergers or consolidation if such an action is undertaken for the purpose of circumventing section 1754, 1757, 1758 or 1761.
Me. Rev. Stat. tit. 13, § 1753
Merger; consolidation
Known as the Maine Cooperative Affordable Housing Ownership Act
The act spans §§ 1741 to 1764 (24 sections).
PL 1993, c. 300, §1 (NEW)
Official source: Maine Legislature. Reproduced from public-domain Maine statutes; confirm against the official source for the current text. Not legal advice.