Effect of dissolution
31 M.R.S. §1596
in effect1596. 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;
B. Disposing of the dissolved limited liability company's properties that will not be distributed in kind to persons owning transferable interests;
C. Discharging or making provisions for discharging the dissolved limited liability company's liabilities;
D. Distributing the dissolved limited liability company's remaining property in accordance with section 1601; and
E. Doing every other act necessary to wind up and liquidate the dissolved limited liability company's business and affairs.
2. No change upon dissolution. The dissolution of a limited liability company does not:
A. Transfer title to the limited liability company's property;
B. Prevent the commencement of a proceeding by or against the limited liability company in its limited liability company name;
C. Abate or suspend a proceeding pending by or against the limited liability company on the effective date of dissolution; or
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).
Source: Maine Legislature, Office of the Revisor of Statutes (legislature.maine.gov)URL: https://legislature.maine.gov/statutes/31/title31sec1596.htmlFetched: 10/20/2026