reglab/housing_qa huggingface dataset:
31 ME Rev Stat § 1554 (2021)
2021 Maine Revised Statutes|TITLE 31: PARTNERSHIPS AND ASSOCIATIONS|Chapter 21: LIMITED LIABILITY COMPANIES|Subchapter 5: RELATIONS OF MEMBERS TO EACH OTHER AND TO LIMITED LIABILITY COMPANY|31 §1554. Sharing of and right to distributions

 §1554. Sharing of and right to distributions 1.  Agreed value.  Distributions by a limited liability company before its dissolution and winding up must be made on the basis of the agreed value, as stated in any written records of the limited liability company, of the contributions made by each person or the person's predecessor in interest to the extent contributions have been received by the limited liability company and not returned.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 2.  Interim distribution.  A person has a right to a distribution before the dissolution and winding up of a limited liability company only if the limited liability company decides to make an interim distribution. A member's dissociation does not entitle the dissociated member to a distribution.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 3.  Form of distribution.  A person does not have a right to demand and receive a distribution from a limited liability company in any form other than money. Except as otherwise provided in section 1601, subsection 3, a limited liability company may distribute an asset in kind if each person receives a percentage of the asset equal in value to the member's share of distributions.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 4.  Status of creditor.  If a member or transferee becomes entitled to receive a distribution, the member or transferee has the status of, and is entitled to all remedies available to, a creditor of the limited liability company with respect to the distribution.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] SECTION HISTORY PL 2009, c. 629, Pt. A, §2 (NEW). PL 2009, c. 629, Pt. A, §3 (AFF).
31 ME Rev Stat § 1555 (2021)
2021 Maine Revised Statutes|TITLE 31: PARTNERSHIPS AND ASSOCIATIONS|Chapter 21: LIMITED LIABILITY COMPANIES|Subchapter 5: RELATIONS OF MEMBERS TO EACH OTHER AND TO LIMITED LIABILITY COMPANY|31 §1555. Limitations on distribution and liability for improper distributions

 §1555. Limitations on distribution and liability for improper distributions 1.  Improper distribution.  A limited liability company may not make a distribution to the extent that at the time of the distribution, after giving effect to the distribution, all liabilities of the limited liability company, other than liabilities to members on account of their limited liability company interests and liabilities for which the recourse of creditors is limited to specific property of the limited liability company, exceed the fair value of the assets of the limited liability company, except that the fair value of the property that is subject to a liability for which recourse of creditors is limited must be included in the assets of the limited liability company only to the extent that the fair value of the property exceeds that liability.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 2.  Liability for improper distribution.  A person who receives a distribution in violation of subsection 1, and who knew at the time of the distribution that the distribution violated subsection 1, is liable to the limited liability company for the amount of the distribution. A person who receives a distribution in violation of subsection 1, and who did not know at the time of the distribution that the distribution violated subsection 1, is not liable for the amount of the distribution. Subject to subsection 4, this subsection does not affect any obligation or liability of a person under an agreement or other applicable law for the amount of a distribution.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 3.  Action barred after 2 years.  An action under this section is barred if not commenced within 2 years after the distribution.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 4.  Distribution exclusions.  For purposes of this section, "distribution" does not include amounts constituting reasonable compensation for present or past services or reasonable payments made in the ordinary course of business under a bona fide retirement plan or other benefits program.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 5.  Distribution made in accordance with section 1601.  This section does not apply to distributions made in accordance with section 1601.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] SECTION HISTORY PL 2009, c. 629, Pt. A, §2 (NEW). PL 2009, c. 629, Pt. A, §3 (AFF).
31 ME Rev Stat § 1556 (2021)
2021 Maine Revised Statutes|TITLE 31: PARTNERSHIPS AND ASSOCIATIONS|Chapter 21: LIMITED LIABILITY COMPANIES|Subchapter 5: RELATIONS OF MEMBERS TO EACH OTHER AND TO LIMITED LIABILITY COMPANY|31 §1556. Activities and affairs of limited liability company

 §1556. Activities and affairs of limited liability company 1.  Direction; oversight of members.  The activities and affairs of a limited liability company are under the direction, and subject to the oversight, of its members.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 2.  Majority of members.  A matter in the ordinary course of activities of a limited liability company may be decided by a majority of the members.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 3.  All members.  The consent of all members of a limited liability company is required to:   A. Approve a merger or conversion under subchapter 12;   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]B. Amend the limited liability company agreement;   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]C. Undertake any other act outside the ordinary course of the limited liability company's activities; or   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]D. Undertake, authorize or approve any other act or matter for which this chapter requires the consent of all members.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).][PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 4.  Without meeting; agent.  Any matter requiring the consent of the members of a limited liability company may be decided without a meeting, and a member may appoint a proxy or other agent to consent or otherwise act for the member by signing an appointing record, personally or by the member's agent.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 5.  After dissolution, majority of members.  After dissolution, a matter in the ordinary course of winding up the activities of a limited liability company may be decided by a majority of the members.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 6.  No entitlement to remuneration.  This chapter does not entitle a member to remuneration for services performed for a limited liability company.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] SECTION HISTORY PL 2009, c. 629, Pt. A, §2 (NEW). PL 2009, c. 629, Pt. A, §3 (AFF).
31 ME Rev Stat § 1557 (2021)
2021 Maine Revised Statutes|TITLE 31: PARTNERSHIPS AND ASSOCIATIONS|Chapter 21: LIMITED LIABILITY COMPANIES|Subchapter 5: RELATIONS OF MEMBERS TO EACH OTHER AND TO LIMITED LIABILITY COMPANY|31 §1557. Indemnification, advancement, reimbursement and insurance

 §1557. Indemnification, advancement, reimbursement and insurance A limited liability company may indemnify and hold harmless a member or other person, pay in advance or reimburse expenses incurred by a member or other person and purchase and maintain insurance on behalf of a member or other person.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]SECTION HISTORY PL 2009, c. 629, Pt. A, §2 (NEW). PL 2009, c. 629, Pt. A, §3 (AFF).
31 ME Rev Stat § 1560 (2021)
2021 Maine Revised Statutes|TITLE 31: PARTNERSHIPS AND ASSOCIATIONS|Chapter 21: LIMITED LIABILITY COMPANIES|Subchapter 5: RELATIONS OF MEMBERS TO EACH OTHER AND TO LIMITED LIABILITY COMPANY|31 §1560. Nature of professional limited liability company business

 §1560. Nature of professional limited liability company business A professional limited liability company, as defined in Title 13, section 723, subsection 5, is subject to the Maine Professional Service Corporation Act except as follows.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]1.  No application.   Title 13, sections 722, 733, 736, 751, 762 and 763, Title 13, section 771, subsection 2, paragraph A and Title 13, section 772 do not apply.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 2.  Application.  All references to:   A. Shareholders are deemed to be references to members and transferees;   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]B. Corporations or corporations organized or incorporated under the Maine Professional Service Corporation Act are deemed to be references to professional limited liability companies;   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]C. Stock are deemed to be references to transferable interests; and   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]D. Officers and directors are deemed to be references to the officers and directors of the limited liability company, if any, and otherwise to any individuals having comparable management authority in respect of the limited liability company. References to clerk, treasurer and secretary are deemed to be references to such persons having comparable authority in respect of the limited liability company.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).][PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] SECTION HISTORY PL 2009, c. 629, Pt. A, §2 (NEW). PL 2009, c. 629, Pt. A, §3 (AFF).
31 ME Rev Stat § 1571 (2021)
2021 Maine Revised Statutes|TITLE 31: PARTNERSHIPS AND ASSOCIATIONS|Chapter 21: LIMITED LIABILITY COMPANIES|Subchapter 6: TRANSFERABLE INTERESTS AND RIGHTS OF TRANSFEREES AND CREDITORS|31 §1571. Member's transferable interest

 §1571. Member's transferable interest The only interest of a member that is transferable is the member's transferable interest. A transferable interest in a limited liability company is personal property.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]SECTION HISTORY PL 2009, c. 629, Pt. A, §2 (NEW). PL 2009, c. 629, Pt. A, §3 (AFF).
31 ME Rev Stat § 1574 (2021)
2021 Maine Revised Statutes|TITLE 31: PARTNERSHIPS AND ASSOCIATIONS|Chapter 21: LIMITED LIABILITY COMPANIES|Subchapter 6: TRANSFERABLE INTERESTS AND RIGHTS OF TRANSFEREES AND CREDITORS|31 §1574. Power of personal representative of deceased member

 §1574. Power of personal representative of deceased member If a member dies, the deceased member's personal representative or other legal representative may, for purposes of settling the estate, exercise the rights of a current member under section 1558.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]SECTION HISTORY PL 2009, c. 629, Pt. A, §2 (NEW). PL 2009, c. 629, Pt. A, §3 (AFF).
31 ME Rev Stat § 1581 (2021)
2021 Maine Revised Statutes|TITLE 31: PARTNERSHIPS AND ASSOCIATIONS|Chapter 21: LIMITED LIABILITY COMPANIES|Subchapter 7: MEMBER'S DISSOCIATION|31 §1581. Member's power to dissociate; wrongful dissociation

 §1581. Member's power to dissociate; wrongful dissociation 1.  Power to dissociate.  A person has the power to dissociate as a member.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 2.  Wrongful dissociation.  A person's dissociation from a limited liability company is wrongful only if:   A. It is in breach of an express provision of the limited liability company agreement; or   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]B. It occurs before the termination of the limited liability company and:   (1) The person dissociates as a member by express will;   (2) The person is expelled as a member by judicial determination under section 1582, subsection 5;   (3) The person is dissociated by becoming a debtor in bankruptcy or making a general assignment for the benefit of creditors; or   (4) In the case of a person that is not an individual, a trust other than a business trust or an estate, the person is expelled or otherwise dissociated as a member because the person willfully dissolved or terminated.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).][PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 3.  Liability.  A person that wrongfully dissociates as a member is liable to the limited liability company and, subject to section 1631, to the other members for damages caused by the dissociation. The liability is in addition to any other debt, obligation or liability of the member to the limited liability company or the other members.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] SECTION HISTORY PL 2009, c. 629, Pt. A, §2 (NEW). PL 2009, c. 629, Pt. A, §3 (AFF).
31 ME Rev Stat § 1583 (2021)
2021 Maine Revised Statutes|TITLE 31: PARTNERSHIPS AND ASSOCIATIONS|Chapter 21: LIMITED LIABILITY COMPANIES|Subchapter 7: MEMBER'S DISSOCIATION|31 §1583. Effect of person's dissociation as a member

 §1583. Effect of person's dissociation as a member 1.  No right to participate.  A person who has dissociated as a member has no right to participate in the activities and affairs of the limited liability company and is entitled only to receive the distributions to which that member would have been entitled if the member had not dissociated.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 2.  No discharge from dissociation.  A person's dissociation as a member does not of itself discharge the person from any debt, obligation or liability to a limited liability company or the other members that the person incurred while a member.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 3.  No right to payment.  If a person is dissociated as a member under section 1582 and the limited liability company is not dissolved due to that dissociation, that person has no right on account of that dissociation to any payment from the limited liability company for that person's interest in the limited liability company.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] SECTION HISTORY PL 2009, c. 629, Pt. A, §2 (NEW). PL 2009, c. 629, Pt. A, §3 (AFF).
31 ME Rev Stat § 1591 (2021)
2021 Maine Revised Statutes|TITLE 31: PARTNERSHIPS AND ASSOCIATIONS|Chapter 21: LIMITED LIABILITY COMPANIES|Subchapter 8: DISSOLUTION, WINDING UP, REINSTATEMENT AND REVIVAL|31 §1591. Grounds for administrative dissolution of limited liability company

 §1591. Grounds for administrative dissolution of limited liability company Notwithstanding Title 4, chapter 5 and Title 5, chapter 375, the Secretary of State may commence a proceeding under section 1592 to administratively dissolve a limited liability company if:   [PL 2011, c. 113, Pt. A, §11 (AMD).]1.  Nonpayment of fees or penalties.  The limited liability company does not pay when due any fees or penalties imposed by this chapter or other law;   [PL 2011, c. 113, Pt. A, §11 (AMD).] 2.  Failure to file annual report.  The limited liability company does not deliver its annual report to the Secretary of State as required by section 1665;   [PL 2011, c. 113, Pt. A, §11 (AMD).] 3.  Failure to pay late filing penalty.  The limited liability company does not pay the annual report late filing penalty as required by section 1667;   [PL 2011, c. 113, Pt. A, §11 (AMD).] 4.  Failure to maintain registered agent.  The limited liability company is without a registered agent in this State as required by section 1661 and Title 5, section 105, subsection 1;   [PL 2011, c. 113, Pt. A, §11 (AMD).] 5.  Failure to notify of change of registered agent or address.  The limited liability company does not notify the Secretary of State that its registered agent has changed as required by Title 5, section 108, subsection 1 or the address of its registered agent has been changed as required by Title 5, section 109 or 110 or that its registered agent has resigned as required by Title 5, section 111; or   [PL 2011, c. 113, Pt. A, §11 (AMD).] 6.  Filing of false information.  A member, manager or agent of the limited liability company signed a document with the knowledge that the document was false in a material respect and with the intent that the document be delivered to the office of the Secretary of State for filing.   [PL 2011, c. 113, Pt. A, §11 (AMD).] SECTION HISTORY PL 2009, c. 629, Pt. A, §2 (NEW). PL 2009, c. 629, Pt. A, §3 (AFF). PL 2011, c. 113, Pt. A, §11 (AMD).
31 ME Rev Stat § 1593 (2021)
2021 Maine Revised Statutes|TITLE 31: PARTNERSHIPS AND ASSOCIATIONS|Chapter 21: LIMITED LIABILITY COMPANIES|Subchapter 8: DISSOLUTION, WINDING UP, REINSTATEMENT AND REVIVAL|31 §1593. Reinstatement following administrative dissolution of limited liability company

 §1593. Reinstatement following administrative dissolution of limited liability company 1.  Application for reinstatement.  A limited liability company administratively dissolved under section 1592 may apply to the Secretary of State for reinstatement within 6 years after the effective date of administrative dissolution. The application must:   A. State the name of the limited liability company and the effective date of its administrative dissolution;   [PL 2011, c. 113, Pt. A, §13 (AMD).]B. State that the ground or grounds for dissolution of the limited liability company either did not exist or have been eliminated; and   [PL 2011, c. 113, Pt. A, §13 (AMD).]C. State that the limited liability company's name satisfies the requirements of section 1508.   [PL 2011, c. 113, Pt. A, §13 (AMD).][PL 2011, c. 113, Pt. A, §13 (AMD).] 2.  Reinstatement after administrative dissolution.  If the Secretary of State determines that the application contains the information required under subsection 1 and is accompanied by the reinstatement fee set forth in section 1680, subsection 17 and that the information is correct, the Secretary of State shall cancel the administrative dissolution and prepare a notice of reinstatement that recites that determination and the effective date of reinstatement. The Secretary of State shall use the procedures set forth in section 1592, subsection 8 to deliver the notice to the limited liability company.   [PL 2011, c. 113, Pt. A, §13 (AMD).] 3.  Effect of reinstatement.  When the reinstatement is effective under subsection 2, the reinstatement relates back to and takes effect as of the effective date of the administrative dissolution, and the limited liability company resumes business as if the administrative dissolution had not occurred.   [PL 2011, c. 113, Pt. A, §13 (AMD).] 4.  Cancellation of certificate of formation.  In the event a limited liability company that is administratively dissolved under section 1592 fails to be reinstated in accordance with the terms of this section within 6 years after the effective date of administrative dissolution, the Secretary of State shall cancel the certificate of formation of the limited liability company, effective on the 6th anniversary of the effective date of administrative dissolution.   [PL 2011, c. 113, Pt. A, §13 (AMD).] SECTION HISTORY PL 2009, c. 629, Pt. A, §2 (NEW). PL 2009, c. 629, Pt. A, §3 (AFF). PL 2011, c. 113, Pt. A, §13 (AMD).
31 ME Rev Stat § 1594 (2021)
2021 Maine Revised Statutes|TITLE 31: PARTNERSHIPS AND ASSOCIATIONS|Chapter 21: LIMITED LIABILITY COMPANIES|Subchapter 8: DISSOLUTION, WINDING UP, REINSTATEMENT AND REVIVAL|31 §1594. Appeal from denial of reinstatement of limited liability company

 §1594. Appeal from denial of reinstatement of limited liability company 1.  Denial of reinstatement.  If the Secretary of State denies a limited liability company's application for reinstatement following administrative dissolution, the Secretary of State shall serve the limited liability company under section 1592, subsection 8 with a written notice that explains the reason or reasons for denial.   [PL 2011, c. 113, Pt. A, §14 (AMD).] 2.  Appeal.  A limited liability company may appeal a denial of reinstatement under subsection 1 to the Superior Court of the county where the limited liability company's principal office is located or, if there is no principal office in this State, in Kennebec County within 30 days after the date of the notice of denial. The limited liability company appeals by petitioning the court to set aside the dissolution and attaching to the petition copies of the Secretary of State's notice of administrative dissolution, the limited liability company's application for reinstatement and the Secretary of State's notice of denial.   [PL 2011, c. 113, Pt. A, §14 (AMD).] 3.  Court action.  The court may summarily order the Secretary of State to reinstate an administratively dissolved limited liability company or may take other action the court considers appropriate.   [PL 2011, c. 113, Pt. A, §14 (AMD).] 4.  Final decision.  The court's final decision in an appeal under this section may be appealed as in other civil proceedings.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] SECTION HISTORY PL 2009, c. 629, Pt. A, §2 (NEW). PL 2009, c. 629, Pt. A, §3 (AFF). PL 2011, c. 113, Pt. A, §14 (AMD).
31 ME Rev Stat § 1595 (2021)
2021 Maine Revised Statutes|TITLE 31: PARTNERSHIPS AND ASSOCIATIONS|Chapter 21: LIMITED LIABILITY COMPANIES|Subchapter 8: DISSOLUTION, WINDING UP, REINSTATEMENT AND REVIVAL|31 §1595. Events causing dissolution

 §1595. Events causing dissolution 1.  Events causing dissolution.  A limited liability company is dissolved, and its activities must be wound up, upon the occurrence of any of the following:   A. An event or circumstance that the limited liability company agreement states causes dissolution;   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]B. The consent of all the members;   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]C. The passage of 90 consecutive days during which the limited liability company has no members;   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]D. On application by a member, the entry by the Superior Court of an order dissolving the limited liability company on the grounds that it is not reasonably practicable to carry on the limited liability company's activities in conformity with the limited liability company agreement;   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]E. On application by a member, the entry by the Superior Court of an order dissolving the limited liability company on the grounds that the members in control of the limited liability company have acted, are acting or will act in a manner that is illegal or fraudulent; or   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]F. On application by a holder of a transferable interest, the entry by the Superior Court of an order dissolving the limited liability company on the grounds that the limited liability company has no members.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).][PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 2.  Other remedy.  In a proceeding brought under subsection 1, paragraph E, the court may order a remedy other than dissolution.   [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] SECTION HISTORY PL 2009, c. 629, Pt. A, §2 (NEW). PL 2009, c. 629, Pt. A, §3 (AFF).