LD 1517
pg. 8
Page 7 of 13 An Act To Make Necessary Technical Changes Relating to the Maine Business Corpo... Page 9 of 13
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LR 93
Item 1

 
experts employed by any party, unless the court otherwise
orders for good cause. If the fair value of the shares as
determined materially exceeds the amount that the company
offered to pay for them, or if no offer was made, the court in
its discretion may award to any shareholder who is a party to
the proceeding such sum as the court may determine to be
reasonable compensation to any expert or experts employed by
the shareholder in the proceeding and may, in its discretion,
award to any shareholder all or part of the attorney's fees
and expenses incurred by that shareholder.

 
I.__At all times during the pendency of any such proceeding,
the court may make any and all orders that may be necessary
to protect the company or the dissenting shareholders or
that are otherwise just and equitable.__Such orders may
include, without limitation, orders:

 
(1)__Requiring the company to pay into court, or post
security for, the amount of the judgment or its
estimated amount, either before final judgment or
pending appeal;

 
(2)__Requiring the deposit with the court of
certificates representing shares held by the dissenting
shareholders;

 
(3)__Imposing a lien on the property of the company to
secure the payment of the judgment, which lien may be
given priority over liens and encumbrances contracted
after the vote adopting the plan pursuant to subsection
2; and

 
(4)__Staying the action pending the determination of
any similar action pending in another court having
jurisdiction.

 
J.__In the case of a shareholder who is a minor or otherwise
legally incapacitated, the notice and demand required by
subsection 6 may be made either by the shareholder,
notwithstanding legal incapacity, or by the shareholder's
guardian or by any person acting for the shareholder as next
friend. Such shareholder is bound by the time limitations
set forth in this section, notwithstanding the shareholder's
legal incapacity.

 
K.__Appeals lie from judgments in actions brought under this
subsection as in other civil actions in which equitable
relief is sought.


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