Maine § 5183. - Original corporation continues, to close business, and for actions
Full text of Maine Maine Revised Statutes § 5183. — Original corporation continues, to close business, and for actions, with citation guidance and answers to common questions.
§ 5183.. Original corporation continues, to close business, and for actions
The original corporation shall exist, after the foreclosure of the mortgage, for the sole purpose of closing its unsettled business and the right of action against it or its stockholders is not impaired. In actions founded on any of the bonds or coupons secured by the mortgage, the proportional actual value of the property taken under the mortgage shall be deducted. [PL 1987, c. 141, Pt. A, §4 (NEW).]
Source: official Maine text · Last verified 2026-08-27
Frequently Asked Questions About Maine § 5183.
What does Maine Revised Statutes § 5183. cover?
Section 5183. ("Original corporation continues, to close business, and for actions") 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 § 5183.?
A common citation format is "Maine Revised Statutes § 5183." (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 § 5183. 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.