| 1327 is deemed to refer to the failure of the corporation to | make required payments under this section. |
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| | Sec. D-15. 24-A MRSA §3486, sub-§11, as enacted by PL 1977, c. 377, is | repealed. |
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| | Sec. D-16. 24-A MRSA §3486, sub-§§12 and 14, as enacted by PL 1977, c. | 377, are amended to read: |
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| | 12. If the court determines pursuant to Title 13-A, section | 909, subsection 9, paragraph E 13-C, chapter 113, subchapter 3 | that a shareholder is not entitled to receive payment of the fair | value of his the shareholder's shares because of his the | shareholder's failure to satisfy the requirements of Title 13-A, | section 909 13-C, chapter 113, subchapter 3 and of this section, | then the shareholder shall receive the consideration which that | was specified as payment in exchange for his the shareholder's | shares pursuant to the plan. Such payment shall may not include | the allowance for interest specified in Title 13-A 13-C, section | 909 1331, subsection 9, paragraph G 5. |
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| | 14. The provisions of Title 13-A, section 525, regarding | unclaimed dividends and other distributions to shareholders shall | 33, chapter 41 apply to any unclaimed payment to which a | shareholder may be entitled under this section. |
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| | Sec. D-17. 31 MRSA §282, sub-§5-A, as enacted by PL 1995, c. 633, Pt. | A, §1, is amended to read: |
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| | 5-A. Professional limited liability partnership. | "Professional limited liability partnership" means a registered | limited liability partnership that, by virtue of the business | conducted by it, would be subject to the required to incorporate | under the Maine Professional Service Corporation Act if that | partnership were a corporation. |
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| | Sec. D-18. 31 MRSA §418, as enacted by PL 1999, c. 638, §13, is | amended to read: |
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| §418. Conversion of limited partnership |
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| | 1. Definitions. For purposes of this section, "business | entity" means any association or legal entity organized to | conduct business, including a domestic or foreign corporation, | limited liability company, limited partnership, general | partnership, limited liability partnership, joint venture, joint | stock company and business trust. |
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| | 2. Authority. A business entity limited partnership may | convert to another type of business entity by complying with the |
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