§1596. Effect of dissolution
1. Existence; activities. Until the filing of a certificate of cancellation as provided in section 1533, a dissolved limited liability company continues its existence as a limited liability company but may not carry on any activities except as is appropriate to wind up and liquidate its activities and affairs, including:
A. Collecting the dissolved limited liability company's assets; [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
B. Disposing of the dissolved limited liability company's properties that will not be distributed in kind to persons owning transferable interests; [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
C. Discharging or making provisions for discharging the dissolved limited liability company's liabilities; [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
D. Distributing the dissolved limited liability company's remaining property in accordance with section 1601; and [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
E. Doing every other act necessary to wind up and liquidate the dissolved limited liability company's business and affairs. [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
[PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
2. No change upon dissolution. The dissolution of a limited liability company does not:
A. Transfer title to the limited liability company's property; [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
B. Prevent the commencement of a proceeding by or against the limited liability company in its limited liability company name; [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
C. Abate or suspend a proceeding pending by or against the limited liability company on the effective date of dissolution; or [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
D. Terminate the authority of the limited liability company's registered agent. [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
[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
TITLE 31: PARTNERSHIPS AND ASSOCIATIONS
Chapter 21: LIMITED LIABILITY COMPANIES
Subchapter 8: DISSOLUTION, WINDING UP, REINSTATEMENT AND REVIVAL
31 §1591. Grounds for administrative dissolution of limited liability company
31 §1592. Procedure for and effect of administrative dissolution of limited liability company
31 §1593. Reinstatement following administrative dissolution of limited liability company
31 §1594. Appeal from denial of reinstatement of limited liability company
31 §1595. Events causing dissolution
31 §1596. Effect of dissolution
31 §1597. Right to wind up business and activities
31 §1598. Power to bind limited liability company after dissolution
31 §1599. Known claims against dissolved limited liability company
31 §1600. Other claims against dissolved limited liability company
31 §1601. Application of assets in winding up limited liability company's activities
31 §1602. Revocation of dissolution
31 §1603. Effect of revocation of dissolution
31 §1604. Revival of limited liability company after dissolution