Maine Revised Statutes
Subchapter 8: DISSOLUTION, WINDING UP, REINSTATEMENT AND REVIVAL
31 §1597. Right to wind up business and activities

§1597. Right to wind up business and activities
1.  Wind up activities.  After dissolution, the remaining members, if any, and if none, a person appointed by all holders of the transferable interest last transferred by the last person to have been a member, may wind up the limited liability company's activities.  
[PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
2.  Judicial supervision.  The Superior Court may order judicial supervision of the winding up of a dissolved limited liability company, including the appointment of a person to wind up the limited liability company's activities:  
A. On application of a member, if the applicant establishes good cause;   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
B. On the application of a transferee, if:  
(1) The limited liability company does not have any members; and  
(2) Within a reasonable time following the dissolution, a person has not been appointed pursuant to subsection 1; or   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
C. In connection with a proceeding under section 1595, subsection 1, paragraph E or F.   [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).

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