13 §1745. Property classification of cooperative interest - Maine Statutes

Title 13: CORPORATIONS

Part 2: CORPORATIONS WITHOUT CAPITAL

Chapter 85: COOPERATIVES

Subchapter 1-A: COOPERATIVE AFFORDABLE HOUSING OWNERSHIP HEADING: PL 1993, C. 300, §1 (NEW)

§1745. Property classification of cooperative interest

1. Personal property. A cooperative interest is personal property.

[ 1993, c. 300, §1 (NEW) .]

2. Nonseverable interest. The possessory interest evidenced by a proprietary lease is a part of and may not be severed from a cooperative interest.

[ 1993, c. 300, §1 (NEW) .]

SECTION HISTORY

1993, c. 300, §1 (NEW).