Skip to main content
Find a Lawyer

Maine Revised Statutes Title 13-C. Maine Business Corporation Act § 1101. Definitions

Current as of January 01, 2025 | Updated by Findlaw Staff

As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings.

1. Eligible entity. “Eligible entity” means a domestic or foreign unincorporated entity or a domestic or foreign nonprofit corporation.

2. Eligible interests. “Eligible interests” means interests and memberships.

3. Merger. “Merger” means a business combination pursuant to section 1102.

4. Party to a merger or party to a share exchange. “Party to a merger” or “party to a share exchange” means any domestic or foreign corporation or eligible entity that will:

A. Merge under a plan of merger;

B. Acquire shares or eligible interests of another corporation or an eligible entity in a share exchange; or

C. Have all of its shares or eligible interests or all of one or more classes or series of its shares or eligible interests acquired in a share exchange.

5. Share exchange. “Share exchange” means a business combination pursuant to section 1103.

6. Survivor. “Survivor” in a merger means the corporation or eligible entity into which one or more other corporations or eligible entities are merged. A survivor of a merger may preexist the merger or be created by the merger.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Maine Revised Statutes Title 13-C. Maine Business Corporation Act § 1101. Definitions - last updated January 01, 2025 | https://codes.findlaw.com/me/title-13-c-maine-business-corporation-act/me-rev-st-tit-13-c-sect-1101/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard