LD 1539
pg. 98
Page 97 of 104 PUBLIC Law Chapter 344 Page 99 of 104
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LR 1942
Item 1

 
K. To enter into contracts of guaranty or suretyship,
unless in doing so the corporation would be engaging in an
activity prohibited to business corporations organized under
Title 13-A, section 401 13-C;

 
L. To lend money, invest its funds from time to time, and
take and hold any property, including, but not limited to,
real property, as security for payment of funds so loaned or
invested, unless in doing so the corporation would be
engaging in a business prohibited to business corporations
organized under Title 13-A, section 401 13-C;

 
Sec. D-12. 13-C MRSA §603, sub-§2, as enacted by PL 2001, c. 640, Pt.
A, §2 and affected by Pt. B, §7, is amended to read:

 
2. Limitations on reacquisition, redemption or conversion.
The reacquisition, redemption or conversion of outstanding shares
is subject to the limitations of subsection 3 and to section 6.40
651.

 
Sec. D-13. 24-A MRSA §3486, sub-§6, as enacted by PL 1977, c. 377, is
amended to read:

 
6. A dissenting shareholder shall file, within 20 days after
the delivery to him that shareholder of either a copy of the plan
or a summary thereof of the plan pursuant to subsection 4, a
written notice of his the shareholder's election to dissent from
the plan and a demand for payment of the fair value of his the
shareholder's shares. Such The notice and demand shall must be
filed with the company which that adopted the plan by personally
delivering it, or by mailing it via certified or registered mail,
to such the company at its registered office within this State or
to its principal place of business or to the address given to the
Secretary of State pursuant to Title 13-A, section 906,
subsection 4, paragraph B as shown on its most recent annual
report or, in the case of a foreign corporation that has not yet
delivered an annual report, in its application for a certificate
of authority pursuant to Title 13-C, section 130.

 
Sec. D-14. 24-A MRSA §3486, sub-§10, as enacted by PL 1977, c. 377, is
amended to read:

 
10. If, within the additional 20-day period prescribed by
subsection 9, one or more dissenting shareholders and the company
have failed to agree as to the fair value of the shares, then
Title 13-A, section 909, subsections 9, 11, 12 and 13, shall be
applicable 13-C, chapter 13, subchapter 3 applies, except that:


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