Maine § 1523. - Limited liability company agreement; effect on limited liability company and persons admitted as members; preformation agreement
Full text of Maine Maine Revised Statutes § 1523. — Limited liability company agreement; effect on limited liability company and persons admitted as members; preformation agreement, with citation guidance and answers to common questions.
§ 1523.. Limited liability company agreement; effect on limited liability company and persons admitted as members; preformation agreement
1. Agreement binding and enforceable. A limited liability company is bound by and may enforce the limited liability company agreement, whether or not the limited liability company has itself manifested assent to the limited liability company agreement.
2. Member a party. A person that is admitted as a member of a limited liability company becomes a party to and assents to the limited liability company agreement except as provided in section 1553, subsection 1.
3. Initial members agreement. Two or more persons intending to be the initial members of a limited liability company may make an agreement providing that upon the formation of the limited liability company the agreement becomes the limited liability company agreement. One person intending to be the initial member of a limited liability company may assent to terms providing that upon the formation of the limited liability company the terms will become the limited liability company agreement.
Source: official Maine text · Last verified 2026-08-27
Frequently Asked Questions About Maine § 1523.
What does Maine Revised Statutes § 1523. cover?
Section 1523. ("Limited liability company agreement; effect on limited liability company and persons admitted as members; preformation agreement") is part of the Maine Revised Statutes, the codified statutory law of Maine. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maine § 1523.?
A common citation format is "Maine Revised Statutes § 1523." (Maine). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maine law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maine official source linked on this page or consult a licensed Maine attorney.
How does Maine § 1523. apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maine can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maine.