United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 13-C, § 303: Emergency powers, 2001

Defines an emergency and lets a corporation’s board take special steps to keep operating, including changing succession lines, moving offices, easing meeting notice, and using officers to help make a quorum.

Source excerpt

board governancecorporate actionemergency powersmeeting noticequorum

Jurisdiction: United States — Maine
Structure: 1 provisions
Official identity: Year 2001
Dates: Enacted 2001 · Source version 1 Oct 2025

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Dates: Enacted 2001 · Source version 1 Oct 2025

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“Defines an emergency and lets a corporation’s board take special steps to keep operating, including changing succession lines, moving offices, easing meeting notice, and using officers to help make a quorum.”

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Enacted 2001 · Source version 1 Oct 2025. The date shown identifies this source expression and should not be treated as proof that no later change exists.
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Emergency powers

Section 303

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Source record from legislature.maine.gov · Enacted 2001 · Source version 1 Oct 2025

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§ 303Emergency powersProvision

Source excerpt

1. Emergency defined. For the purposes of this section, an emergency exists if a quorum of the corporation's directors can not readily be assembled because of some catastrophic event. [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).] 2. Authorized powers in event of emergency. In anticipation of or during an emergency, the board of directors of a corporation may: A. Modify lines of succession to accommodate the incapacity of any director, officer, employee or agent; and [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).] B. Relocate the principal office, designate alternative principal offices or regional offices, or authorize the officers to do so. [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).] [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).] 3. Notice of meeting; quorum. During an emergency, unless emergency bylaws pursuant to chapter 2 provide otherwise: A. Notice of a meeting of the board of directors need be given only to those directors whom it is practicable to reach and may be given in any practicable manner, including by publication and radio; and [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).] B. One or more officers of the corporation present at a meeting of the board of directors may be deemed to be directors for the meeting, in order of rank and within the same rank in order of seniority, as necessary to achieve a quorum. [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).] [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).] 4. Effect of corporate action taken during emergency. Corporate action taken in good faith during an emergency under this section to further the ordinary business affairs of the corporation: A. Binds the corporation; and [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).] B. May not be used to impose liability on a corporate director, officer, employee or agent. [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).] [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]

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1 Oct 2025 · currentEnglish

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