{"data":{"id":"us-me/31-m.r.s.-1504","jurisdiction":"us-me","citation":"31 M.R.S. §1504","heading":"Nature, purpose and duration of limited liability company","body":"1.  Distinct entity.  A limited liability company is an entity distinct from its members.\n2.  Any lawful purpose.  A limited liability company may have any lawful purpose, regardless of whether for profit.\n3.  Duration.  A limited liability company has perpetual duration.","path":["TITLE 31: PARTNERSHIPS AND ASSOCIATIONS","CHAPTER 21: LIMITED LIABILITY COMPANIES","SUBCHAPTER 1: GENERAL PROVISIONS"],"source_url":"https://legislature.maine.gov/statutes/31/title31sec1504.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:37Z","sha256":"5d0bd2662bf98aa7db0d667d381db58badd1971fbc887d473e4c028403dd6200","source_id":"us-me","stale":false,"prev":"us-me/31-m.r.s.-1503","next":"us-me/31-m.r.s.-1505"},"notice":"GroundRules: Original legal text. Not legal advice."}