Maine Revised Statutes

Me. Rev. Stat. tit. 13-A, § 909 (2026)

Right of dissenting shareholders to payment for shares

✓ current as of May 2026
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(REPEALED)
SECTION HISTORY
PL 1971, c. 439, §§1,27 (NEW). PL 2001, c. 640, §A1 (RP). PL 2001, c. 640, §B7 (AFF).
Notes of Decisions
Cited in 5 cases, 1979–2003 · leading case: In Re Valuation of Common Stock of McLoon Oil Co., 565 A.2d 997 (Me. 1989).
In Re Valuation of Common Stock of McLoon Oil Co., 565 A.2d 997 (Me. 1989). · cites it 7× “Two dissenting shareholders of the Maine companies sued for appraisal rights under 13-A M.R.S.A. § 909 (1981). Adopting the report of the court-appointed referee, the Superior Court (Androscoggin County, Alexander, J.”
In Re Valuation of Common Stock of Libby, McNeill & Libby, 406 A.2d 54 (Me. 1979). · cites it 9× “For the first time since the enactment of the Maine Business Corporation Act, effective on January 1, 1972, the courts are in this case called upon to construe and apply the dissenting shareholder appraisal provisions of the Act, 13-A M.R.S.A. § 909 (1974). In this proceeding,…”
Fries v. Carpenter, 567 A.2d 437 (Me. 1989). · cites it 6× “On August 19, 1986, the plaintiff Fries had filed a class action complaint against the defendants in the Superior Court, Cumberland County, seeking relief pursuant to 13-A M.R.S.A. § 909 (1981). [1] The defendants first received notice of that action when they were served with a…”
Philippe v. Shape, Inc., 688 F. Supp. 783 (D. Me. 1988). “13-A M.R.S.A. § 909 entitles a shareholder who dissents from corporate action to be paid fair value for his shares.”
Penobscot Shoe Co. v. McCulloch (Me. Super. Ct 2003). · cites it 5× “13-A M.R.S.A. § 909(1). Thus, the increased price of PSC shares during this time does not bear on the fair value of those shares.”
— Me. Rev. Stat. tit. 13-A, § 909(1) — 2 cases
In Re Valuation of Common Stock of Libby, McNeill & Libby, 406 A.2d 54 (Me. 1979). “For the first time since the enactment of the Maine Business Corporation Act, effective on January 1, 1972, the courts are in this case called upon to construe and apply the dissenting shareholder appraisal provisions of the Act, 13-A M.R.S.A. § 909 (1974). In this proceeding,…”
Penobscot Shoe Co. v. McCulloch (Me. Super. Ct 2003). “13-A M.R.S.A. § 909(1). Thus, the increased price of PSC shares during this time does not bear on the fair value of those shares.”
— Me. Rev. Stat. tit. 13-A, § 909(3) — 1 case
In Re Valuation of Common Stock of McLoon Oil Co., 565 A.2d 997 (Me. 1989). “Two dissenting shareholders of the Maine companies sued for appraisal rights under 13-A M.R.S.A. § 909 (1981). Adopting the report of the court-appointed referee, the Superior Court (Androscoggin County, Alexander, J.”
— Me. Rev. Stat. tit. 13-A, § 909(7) — 1 case
In Re Valuation of Common Stock of Libby, McNeill & Libby, 406 A.2d 54 (Me. 1979). “For the first time since the enactment of the Maine Business Corporation Act, effective on January 1, 1972, the courts are in this case called upon to construe and apply the dissenting shareholder appraisal provisions of the Act, 13-A M.R.S.A. § 909 (1974). In this proceeding,…”
— Me. Rev. Stat. tit. 13-A, § 909(8) — 1 case
In Re Valuation of Common Stock of Libby, McNeill & Libby, 406 A.2d 54 (Me. 1979). “For the first time since the enactment of the Maine Business Corporation Act, effective on January 1, 1972, the courts are in this case called upon to construe and apply the dissenting shareholder appraisal provisions of the Act, 13-A M.R.S.A. § 909 (1974). In this proceeding,…”
— Me. Rev. Stat. tit. 13-A, § 909(9) — 1 case
Penobscot Shoe Co. v. McCulloch (Me. Super. Ct 2003). “13-A M.R.S.A. § 909(1). Thus, the increased price of PSC shares during this time does not bear on the fair value of those shares.”
— Me. Rev. Stat. tit. 13-A, § 909(9)(B) — 1 case
In Re Valuation of Common Stock of McLoon Oil Co., 565 A.2d 997 (Me. 1989). “Two dissenting shareholders of the Maine companies sued for appraisal rights under 13-A M.R.S.A. § 909 (1981). Adopting the report of the court-appointed referee, the Superior Court (Androscoggin County, Alexander, J.”
— Me. Rev. Stat. tit. 13-A, § 909(9)(E) — 3 cases
In Re Valuation of Common Stock of Libby, McNeill & Libby, 406 A.2d 54 (Me. 1979). “For the first time since the enactment of the Maine Business Corporation Act, effective on January 1, 1972, the courts are in this case called upon to construe and apply the dissenting shareholder appraisal provisions of the Act, 13-A M.R.S.A. § 909 (1974). In this proceeding,…”
In Re Valuation of Common Stock of McLoon Oil Co., 565 A.2d 997 (Me. 1989). “Two dissenting shareholders of the Maine companies sued for appraisal rights under 13-A M.R.S.A. § 909 (1981). Adopting the report of the court-appointed referee, the Superior Court (Androscoggin County, Alexander, J.”
Penobscot Shoe Co. v. McCulloch (Me. Super. Ct 2003). “13-A M.R.S.A. § 909(1). Thus, the increased price of PSC shares during this time does not bear on the fair value of those shares.”
— Me. Rev. Stat. tit. 13-A, § 909(9)(F) — 1 case
In Re Valuation of Common Stock of McLoon Oil Co., 565 A.2d 997 (Me. 1989). “Two dissenting shareholders of the Maine companies sued for appraisal rights under 13-A M.R.S.A. § 909 (1981). Adopting the report of the court-appointed referee, the Superior Court (Androscoggin County, Alexander, J.”
— Me. Rev. Stat. tit. 13-A, § 909(9)(G) — 1 case
In Re Valuation of Common Stock of McLoon Oil Co., 565 A.2d 997 (Me. 1989). “Two dissenting shareholders of the Maine companies sued for appraisal rights under 13-A M.R.S.A. § 909 (1981). Adopting the report of the court-appointed referee, the Superior Court (Androscoggin County, Alexander, J.”
— Me. Rev. Stat. tit. 13-A, § 909(9)(H) — 2 cases
In Re Valuation of Common Stock of Libby, McNeill & Libby, 406 A.2d 54 (Me. 1979). “For the first time since the enactment of the Maine Business Corporation Act, effective on January 1, 1972, the courts are in this case called upon to construe and apply the dissenting shareholder appraisal provisions of the Act, 13-A M.R.S.A. § 909 (1974). In this proceeding,…”
Penobscot Shoe Co. v. McCulloch (Me. Super. Ct 2003). “13-A M.R.S.A. § 909(1). Thus, the increased price of PSC shares during this time does not bear on the fair value of those shares.”
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