When any employee cooperative revokes its election in accordance with section 1975, the articles of amendment must provide for conversion of membership shares and internal capital accounts or their conversions to securities or other property in a manner consistent with Title 13-C.
Me. Rev. Stat. tit. 13, § 1983
Revocation of election as employee cooperative corporation
Known as the Employee Cooperative Corporations Act
The act spans §§ 1971 to 1984 (14 sections).
PL 1983, c. 136 (NEW)
Official source: Maine Legislature. Reproduced from public-domain Maine statutes; confirm against the official source for the current text. Not legal advice.