Maine § 1524. - Limited liability company agreement; effect on 3rd parties and relationship to records effective on behalf of limited liability company
Full text of Maine Maine Revised Statutes § 1524. — Limited liability company agreement; effect on 3rd parties and relationship to records effective on behalf of limited liability company, with citation guidance and answers to common questions.
§ 1524.. Limited liability company agreement; effect on 3rd parties and relationship to records effective on behalf of limited liability company
1. Manner of amendment. If a limited liability company agreement provides for the manner in which it may be amended, including by requiring the approval of a person who is not a party to the limited liability company agreement or the satisfaction of conditions, it may be amended only in that manner or as otherwise permitted by law. The approval of the person may be waived by the person and any conditions may be waived by all persons for whose benefit those conditions were intended.
2. Rights provided. A limited liability company agreement may provide rights to any person, including a person who is not a party to the limited liability company agreement, to the extent set forth in the agreement.
3. Obligations to transferee or dissociated member. The obligations of a limited liability company and its members to a person in the person's capacity as a transferee or dissociated member are governed by the limited liability company agreement. An amendment to the limited liability company agreement made after a person becomes a transferee or dissociated member is effective with regard to any debt, obligation or other liability of the limited liability company or its members to the person in the person's capacity as a transferee or dissociated member.
Source: official Maine text · Last verified 2026-08-27
Frequently Asked Questions About Maine § 1524.
What does Maine Revised Statutes § 1524. cover?
Section 1524. ("Limited liability company agreement; effect on 3rd parties and relationship to records effective on behalf of limited liability company") 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 § 1524.?
A common citation format is "Maine Revised Statutes § 1524." (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 § 1524. 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.