Maine Statutes
§ 31 §1522 — Provisions of the chapter that may not be modified by the limited liability company agreement
1.Prohibited contents.
A limited liability company agreement may not:
2.Good faith and fair dealing.
Notwithstanding any contrary provision of law, there exists an implied contractual covenant of good faith and fair dealing in every limited liability company agreement.
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Maine § 31 §1522 (Provisions of the chapter that may not be modified by the limited liability company agreement) — 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). PL 2011, c. 113, Pt. A, §§6, 7 (AMD).
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