Maine § 13210-A. - Operation, termination and dissolution of corporation
Full text of Maine Maine Revised Statutes § 13210-A. — Operation, termination and dissolution of corporation, with citation guidance and answers to common questions.
§ 13210-A.. Operation, termination and dissolution of corporation
1. Operation of corporation. Notwithstanding Title 13‑B, section 102, subsection 4, paragraph C, the corporation shall operate as a nonprofit corporation under Title 13‑B, section 202 consistent with its composition and broad public purposes.
2. Prerequisites for dissolution. The corporation may not be dissolved until:
A. It is terminated by the Legislature; and [PL 2025, c. 258, §5 (NEW).]
B. The bonds, premium, if any, and interest have been paid or a sufficient amount for the payment of the bonds and interest to maturity or a prior redemption date have been irrevocably set aside in trust for the benefit of the bondholders. [PL 2025, c. 258, §5 (NEW).]
3. Dedication of funds. The corporation's organizing document must contain a provision requiring that upon the dissolution of the corporation, all funds, assets and other property of the corporation must be distributed for one or more exempt purposes within the meaning of the United States Internal Revenue Code of 1986, Section 501(c)(3) or distributed to the State for a public purpose.
Source: official Maine text · Last verified 2026-08-27
Frequently Asked Questions About Maine § 13210-A.
What does Maine Revised Statutes § 13210-A. cover?
Section 13210-A. ("Operation, termination and dissolution of corporation") 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 § 13210-A.?
A common citation format is "Maine Revised Statutes § 13210-A." (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 § 13210-A. 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.