13 §172. Evidence of interest in trust has no legal recognition - Maine Statutes

Title 13: CORPORATIONS

Part 1: CORPORATIONS GENERALLY

Chapter 5: POWERS AND AMENDMENTS

Subchapter 2: LIMITATIONS

§172. Evidence of interest in trust has no legal recognition

No certificate of stock or other evidence of interest in any trust, combination or association, as named in section 171, shall have legal recognition in any court in this State, and any deed of real estate given by any person, firm or corporation for the purpose of becoming interested in such trust, combination or association, or any mortgage given by the latter to the seller, as well as all certificates growing out of such transaction, shall be void.