Maine § 1596. - Effect of dissolution
Full text of Maine Maine Revised Statutes § 1596. — Effect of dissolution, with citation guidance and answers to common questions.
§ 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).]
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).]
Frequently Asked Questions About Maine § 1596.
What does Maine Revised Statutes § 1596. cover?
Section 1596. ("Effect of dissolution") 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 § 1596.?
A common citation format is "Maine Revised Statutes § 1596." (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 § 1596. 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.