31 §611. Nature of business (WHOLE SECTION TEXT EFFECTIVE UNTIL 7/1/11)
Title 31: PARTNERSHIPS AND ASSOCIATIONS
Chapter 13: LIMITED LIABILITY COMPANIES
Subchapter 1: GENERAL PROVISIONS
§611. Nature of business
(CONTAINS TEXT WITH VARYING EFFECTIVE DATES)
(WHOLE SECTION TEXT EFFECTIVE UNTIL 7/1/11)
A limited liability company may be organized under this chapter for any lawful purpose. If the purpose for which a limited liability company is organized or its form makes it subject to a special provision of law, the limited liability company shall also comply with that provision. This section is specifically intended to permit the formation of a professional limited liability company by a person or persons who may form a professional corporation under the Maine Professional Service Corporation Act. The provisions of that Act are incorporated in this chapter by reference, except as follows. [2003, c. 344, Pt. D, §19 (AMD).]
1. Not applicable. Title 13, sections 721, 722, 733, 736, 762 and 763, section 771, subsection 2, paragraph A and section 772 do not apply.
[ 2005, c. 302, §10 (AMD) .]
2. Application. All references to:
A. Shareholders are deemed to be references to members; [1995, c. 633, Pt. C, §16 (NEW).]
B. Corporations, or corporations organized or incorporated under the Maine Professional Service Corporation Act, are deemed to be references to professional limited liability companies; [RR 2001, c. 2, Pt. C, §3 (COR); RR 2001, c. 2, Pt. C, §7 (AFF).]
C. Stock are deemed to be references to membership interests; and [1995, c. 633, Pt. C, §16 (NEW).]
D. Officers and directors are deemed to be references to managers. [2005, c. 302, §11 (AMD).]
[ 2005, c. 302, §11 (AMD) .]
3. Officer.
[ 1995, c. 633, Pt. C, §16 (RP) .]
SECTION HISTORY
1993, c. 718, §A1 (NEW). 1995, c. 633, §C16 (RPR). RR 2001, c. 2, §C3 (COR). RR 2001, c. 2, §C7 (AFF). 2003, c. 344, §D19 (AMD). 2005, c. 302, §§10,11 (AMD). 2009, c. 629, Pt. A, §1 (RP). 2009, c. 629, Pt. A, §3 (AFF).