{"data":{"id":"us-me/31-m.r.s.-1596","jurisdiction":"us-me","citation":"31 M.R.S. §1596","heading":"Effect of dissolution","body":"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:\nA.  Collecting the dissolved limited liability company's assets;\nB.  Disposing of the dissolved limited liability company's properties that will not be distributed in kind to persons owning transferable interests;\nC.  Discharging or making provisions for discharging the dissolved limited liability company's liabilities;\nD.  Distributing the dissolved limited liability company's remaining property in accordance with section 1601; and\nE.  Doing every other act necessary to wind up and liquidate the dissolved limited liability company's business and affairs.\n2.  No change upon dissolution.  The dissolution of a limited liability company does not:\nA.  Transfer title to the limited liability company's property;\nB.  Prevent the commencement of a proceeding by or against the limited liability company in its limited liability company name;\nC.  Abate or suspend a proceeding pending by or against the limited liability company on the effective date of dissolution; or\nD.  Terminate the authority of the limited liability company's registered agent.","path":["TITLE 31: PARTNERSHIPS AND ASSOCIATIONS","CHAPTER 21: LIMITED LIABILITY COMPANIES","SUBCHAPTER 8: DISSOLUTION, WINDING UP, REINSTATEMENT AND REVIVAL"],"source_url":"https://legislature.maine.gov/statutes/31/title31sec1596.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:37Z","sha256":"0836c8e08f9bc83c372ecd57d8a922b9cd1605eac7e2339c6001875af8f34ee5","source_id":"us-me","stale":false,"prev":"us-me/31-m.r.s.-1595","next":"us-me/31-m.r.s.-1597"},"notice":"GroundRules: Original legal text. Not legal advice."}