{"data":{"id":"us-me/13-c-m.r.s.-1825","jurisdiction":"us-me","citation":"13-C M.R.S. §1825","heading":"Right of action","body":"1.  General rule.  Except in a benefit enforcement proceeding, a person may not bring an action or assert a claim against a benefit corporation or its directors or officers with respect to:\nA.  Failure to pursue or create general public benefit or a specific public benefit set forth in the articles of incorporation; or\nB.  Violation of an obligation, duty or standard of conduct under this chapter.\n2.  Limitation on liability of corporation.  A benefit corporation is not liable for monetary damages under this chapter for any failure of the benefit corporation to pursue or create general public benefit or a specific public benefit.\n3.  Standing.  A benefit enforcement proceeding may be commenced or maintained only:\nA.  Directly by the benefit corporation; or\nB.  Derivatively in accordance with chapter 7, subchapter 4 by:\n(1)  A person or group of persons that owned beneficially or of record at least 2% of the total number of shares of a class or series outstanding at the time of the act or omission complained of;\n(2)  A director;\n(3)  A person or group of persons that owned beneficially or of record 5% or more of the outstanding equity interests in an entity of which the benefit corporation is a subsidiary at the time of the act or omission complained of; or\n(4)  Other persons as specified in the articles of incorporation or bylaws of the benefit corporation.\n4.  Beneficial ownership.  For purposes of this section, a person is the beneficial owner of shares or equity interests if the shares or equity interests are held in a voting trust or by a nominee on behalf of the beneficial owner.","path":["TITLE 13-C: MAINE BUSINESS CORPORATION ACT","CHAPTER 18: BENEFIT CORPORATIONS","SUBCHAPTER 3: ACCOUNTABILITY"],"source_url":"https://legislature.maine.gov/statutes/13-C/title13-Csec1825.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:27Z","sha256":"e82dfcf0e0660950685d8ddf2eb5f8dd38e221e6514feb36aa4bdfe41a8df717","source_id":"us-me","stale":false,"prev":"us-me/13-c-m.r.s.-1824","next":"us-me/13-c-m.r.s.-1831"},"notice":"GroundRules: Original legal text. Not legal advice."}