Maine Revised Statutes
Subchapter 1: GENERAL PROVISIONS
31 §1504. Nature, purpose and duration of limited liability company

§1504. Nature, purpose and duration of limited liability company
1.  Distinct entity.  A limited liability company is an entity distinct from its members.  
[PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
2.  Any lawful purpose.  A limited liability company may have any lawful purpose, regardless of whether for profit.  
[PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
3.  Duration.  A limited liability company has perpetual duration.  
[PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
SECTION HISTORY
PL 2009, c. 629, Pt. A, §2 (NEW). PL 2009, c. 629, Pt. A, §3 (AFF).

Structure Maine Revised Statutes