United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 13-C, § 742: Voting agreements, 2001

Two or more shareholders may make a voting agreement on how they will vote their shares; the agreement is specifically enforceable.

enforceabilityshare transfer rescissionshareholder voting agreements

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01

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“Two or more shareholders may make a voting agreement on how they will vote their shares; the agreement is specifically enforceable.”

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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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Voting agreements

Two or more shareholders may make a voting agreement on how they will vote their shares; the agreement is specifically enforceable.

Section 742

04

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

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Commencement
§ 742Voting agreementsCommencement

Two or more shareholders may make a voting agreement on how they will vote their shares; the agreement is specifically enforceable.

1. Creation of voting agreement. Two or more shareholders may provide for the manner in which they will vote their shares by signing an agreement for that purpose. A voting agreement created under this section is not subject to the provisions of section 741. [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).] 2. Enforceable. A voting agreement created under this section is specifically enforceable. [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).] 3. Rescission. Any purchaser of shares for value that are subject to a voting agreement who, at the time of purchase, did not have knowledge of the existence of the agreement is entitled to rescission of the purchase against the transferor of the shares. An action to enforce the right of rescission authorized by this subsection must be commenced within the earlier of 180 days after discovery of the existence of the agreement or 2 years after the time of purchase of the shares. [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
Section 742Verify source

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  • 1 Oct 2025 · currentEnglish

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