In case of the expulsion of a member, and when the bylaws do not provide a procedure or penalty, the board of directors shall equitably and conclusively appraise the member's property interest in the association and shall fix the amount of the member's property interest in money, which must be paid to the member within one year after the expulsion.
Me. Rev. Stat. tit. 13, § 2155
Expulsion; payment for interest
Known as the Fish Marketing Act
The act spans §§ 2001 to 2287 (66 sections).
RR 2025, c. 1, Pt
Official source: Maine Legislature. Reproduced from public-domain Maine statutes; confirm against the official source for the current text. Not legal advice.