Maine § 1597. - Right to wind up business and activities
Full text of Maine Maine Revised Statutes § 1597. — Right to wind up business and activities, with citation guidance and answers to common questions.
§ 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.
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:
(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).]
Source: official Maine text · Last verified 2026-08-27
Frequently Asked Questions About Maine § 1597.
What does Maine Revised Statutes § 1597. cover?
Section 1597. ("Right to wind up business and activities") 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 § 1597.?
A common citation format is "Maine Revised Statutes § 1597." (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 § 1597. 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.