Home/Maine/Statutes/Title 31: PARTNERSHIPS AND ASSOCIATIONS/Ch. 21: LIMITED LIABILITY COMPANIES/§ 31 §1504
Maine Statutes

§ 31 §1504 — Nature, purpose and duration of limited liability company

Maine § 31 §1504
JurisdictionMaine
Title 31PARTNERSHIPS AND ASSOCIATIONS
Ch. 21LIMITED LIABILITY COMPANIES

This text of Maine § 31 §1504 (Nature, purpose and duration of limited liability company) 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. 31, § 31 §1504 (2026).

Text

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.

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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 §1504
Nature, purpose and duration of limited liability company
§ 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 §1510
Assumed or fictitious name of limited liability company
§ 31 §1511
Registered name of foreign limited liability company
§ 31 §152
Formation
§ 31 §1521
Limited liability company agreement; scope, function and limitations
§ 31 §1522
Provisions of the chapter that may not be modified by the limited liability company agreement
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Bluebook (online)
Maine § 31 §1504, Counsel Stack Legal Research, https://law.counselstack.com/statute/me/31%20%C2%A71504.