Maine Revised Statutes
Subchapter 5: RIGHTS OF PURCHASERS UNDER SALE
23 §5183. Original corporation continues, to close business, and for actions

§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).]
SECTION HISTORY
PL 1987, c. 141, §A4 (NEW).

Structure Maine Revised Statutes