Maine § 5157. - Receipts and expenditures; trustees not liable; road surrendered
Full text of Maine Maine Revised Statutes § 5157. — Receipts and expenditures; trustees not liable; road surrendered, with citation guidance and answers to common questions.
§ 5157.. Receipts and expenditures; trustees not liable; road surrendered
The trustees shall keep an accurate account of the receipts and expenditures of the road and exhibit it, on request, to any officer of the corporation or other person interested. They shall, from the receipts, keep the road, buildings and equipment in repair, furnish such new rolling stock as is necessary and the balance, after paying running expenses, shall be applied to the payment of any damages arising from misfeasance in the management of the road and after that, according to the rights of parties under the mortgage. They are not personally liable except for malfeasance or fraud. When all overdue bonds and coupons secured by the mortgage are paid, they shall surrender the road and other property to the parties entitled to them. [PL 1987, c. 141, Pt. A, §4 (NEW).]
Source: official Maine text · Last verified 2026-08-27
Frequently Asked Questions About Maine § 5157.
What does Maine Revised Statutes § 5157. cover?
Section 5157. ("Receipts and expenditures; trustees not liable; road surrendered") 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 § 5157.?
A common citation format is "Maine Revised Statutes § 5157." (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 § 5157. 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.