Maine Revised Statutes
Subchapter 3: SHARES, COUPONS AND MORTGAGES
23 §5156. Trustees taking possession have corporate powers

§5156. Trustees taking possession have corporate powers
If the bondholders so determine, the trustees shall take possession of the road and all other property covered by the mortgage and have all the rights and powers and be subject to all the obligations of the directors and corporation of the road and may prosecute and defend suits in their own name as trustees.   [PL 1987, c. 141, Pt. A, §4 (NEW).]
SECTION HISTORY
PL 1987, c. 141, §A4 (NEW).

Structure Maine Revised Statutes