Maine § 2307. - Examination
Full text of Maine Maine Revised Statutes § 2307. — Examination, with citation guidance and answers to common questions.
§ 2307.. Examination
1. Examination by superintendent. The superintendent or the superintendent's designee has the power of visitation and examination into the affairs of any corporation described in section 2301 and has free access to the books, papers and documents that relate to the business of the corporation and may summon and qualify witnesses under oath and examine its officers, agents or employees or other persons in relation to the affairs, transactions and condition of the corporation.
2. Costs of examination. The reasonable costs of such an examination must be borne by the corporation examined.
3. Accountant's work papers. The superintendent may require a corporation subject to this section to make available the accountant's work papers created during an audit.
A. The superintendent may review the accountant's work papers upon timely notice to the corporation. The superintendent may photocopy or otherwise record the contents of work papers during the review. [PL 1993, c. 702, Pt. A, §4 (NEW).]
B. Work papers or copies of work papers under the superintendent's custody or control are confidential and are not subject to public inspection. [PL 1993, c. 702, Pt. A, §4 (NEW).]
C. The work papers of the corporation's subsidiaries, parent or other corporate affiliates are considered to be the corporation's work papers to the extent that the work papers reference transactions between the corporation and the subsidiary, parent or corporate affiliate and affect the corporation's final equity determination. [PL 1993, c. 702, Pt. A, §4 (NEW).]
D. The corporation shall, as a condition of an accountant's engagement, require the accountant:
(2) To provide the work papers, or a copy, to the corporation at the corporation's request. [PL 1993, c. 702, Pt. A, §4 (NEW).]
For purposes of this subsection, the term "work papers" includes, but is not limited to, schedules, analyses, reconciliations, abstracts, memoranda, narratives, flow charts, copies of company records or other documents prepared or obtained by the accountant and the accountant's employees in conducting the audit of the corporation.
Frequently Asked Questions About Maine § 2307.
What does Maine Revised Statutes § 2307. cover?
Section 2307. ("Examination") is part of the Maine Revised Statutes, the codified statutory law of Maine. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maine § 2307.?
A common citation format is "Maine Revised Statutes § 2307." (Maine). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maine law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maine official source linked on this page or consult a licensed Maine attorney.
How does Maine § 2307. apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maine can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maine.