Maine Revised Statutes Title 31 Sec. 876 – Application to existing foreign limited liability partnerships; definition
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Terms Used In Maine Revised Statutes Title 31 Sec. 876
- Foreign limited liability partnership: means a limited liability partnership formed pursuant to an agreement governed by the laws of another jurisdiction and registered under the laws of that jurisdiction. See Maine Revised Statutes Title 31 Sec. 802-A
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
All foreign limited liability partnerships qualified as foreign corporations or limited partnerships or limited liability companies before September 1, 1996 are governed by this Act on and after September 1, 1996. By December 1, 1996 a partner of each foreign limited liability partnership shall file with the Secretary of State an application for authority to do business in this State under this Act and shall cancel the partnership’s authority to do business in this State under chapter 19, former chapter 13 or former Title 13-A. If the foreign limited liability partnership fails to file the new application for authority to do business in this State by December 1, 1996, it must be treated as a general partnership without the status of a limited liability partnership with respect to any business conducted in this State between December 1, 1996 and the date on which it files that application. [PL 2009, c. 629, Pt. A, §3 (AFF); PL 2009, c. 629, Pt. B, §8 (AMD).]
SECTION HISTORY
PL 1995, c. 633, §B1 (NEW). RR 2001, c. 2, §B53 (COR). RR 2001, c. 2, §B58 (AFF). PL 2005, c. 543, §D17 (AMD). PL 2005, c. 543, §D18 (AFF). PL 2009, c. 629, Pt. A, §3 (AFF). PL 2009, c. 629, Pt. B, §8 (AMD).