Maine Statutes
§ 31 §1504 — Nature, purpose and duration of limited liability company
1.Distinct entity.
A limited liability company is an entity distinct from its members.
2.Any lawful purpose.
A limited liability company may have any lawful purpose, regardless of whether for profit.
3.Duration.
A limited liability company has perpetual duration.
Free access — add to your briefcase to read the full text and ask questions with AI
Maine § 31 §1504 (Nature, purpose and duration of limited liability company) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
PL 2009, c. 629, Pt. A, §2 (NEW). PL 2009, c. 629, Pt. A, §3 (AFF).
Nearby Sections
15
§ 31 §1501
Short title§ 31 §1502
Definitions§ 31 §1503
Knowledge; notice§ 31 §1505
Capacities and powers§ 31 §1506
Governing law§ 31 §1507
Rules of construction§ 31 §1508
Limited liability company name§ 31 §1509
Reservation of name§ 31 §151
Limited partnership defined§ 31 §152
Formation