Maine § 13-C §957 Effect of entity conversion

Maine Statutes

§ 13-C §957 — Effect of entity conversion

Maine § 13-C §957

Title 13-CMAINE BUSINESS CORPORATION ACT

Ch. 9DOMESTICATION AND CONVERSION

This text of Maine § 13-C §957 (Effect of entity conversion) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 13-C, § 13-C §957 (2026).

Text

1.Conversion to domestic business corporation or domestic other entity. When a conversion under this subchapter in which the surviving entity is a domestic business corporation or domestic unincorporated entity becomes effective:

2.Conversion to a foreign other entity. When a conversion of a domestic business corporation to a foreign unincorporated entity becomes effective, the surviving entity is deemed to:

3.Owner liability; shareholder. A shareholder who becomes subject to owner liability for some or all of the debts, obligations or liabilities of the surviving entity is personally liable only for those debts, obligations or liabilities of the surviving entity that arise after the effective time of the articles of entity conversion.

4.Interest holder; owner liability. The owner liab

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1.
Conversion to domestic business corporation or domestic other entity.
When a conversion under this subchapter in which the surviving entity is a domestic business corporation or domestic unincorporated entity becomes effective:
2.
Conversion to a foreign other entity.
When a conversion of a domestic business corporation to a foreign unincorporated entity becomes effective, the surviving entity is deemed to:
3.
Owner liability; shareholder.
A shareholder who becomes subject to owner liability for some or all of the debts, obligations or liabilities of the surviving entity is personally liable only for those debts, obligations or liabilities of the surviving entity that arise after the effective time of the articles of entity conversion.
4.
Interest holder; owner liability.
The owner liability of an interest holder in an unincorporated entity that converts to a domestic business corporation is as provided in this subsection.