Maine LLC Operating Agreement
The Maine LLC Operating Agreement is the core document that is referred to when issues
concerning a Maine limited liability company (“LLC”)
need to be resolved.
Operating Agreement is the most important document for your Maine LLC.
In the case of a single member LLC, without the formality
of an LLC Operating Agreement, the LLC can closely resemble
a sole proprietorship, which does not limit your personal
liability for business debts of the LLC.
With respect to a multi-member LLC, the LLC Operating Agreement reflects the agreement among the members with
respect to the affairs and management of the LLC and governs
the relationship amongst the members of the LLC. By having
an LLC Operating Agreement, the members will be provided
with a clear set of rules that all members have agreed upon
greatly reducing the likelihood of disagreement between
them in the future. A LLC Operating Agreement will also
greatly reduce financial and management misunderstandings,
and make sure your business is governed by your own rules
-- not default rules created by the state of Maine.
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LLC in a matter of minutes.
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or more members, will be managed by its members or by elected
managers, or will be granting one or more members an interest
in the LLC for the performance of services, myLLCagreement.com
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The LLC operating agreement does
not have to be filed with any state agency. All states,
including the state of Maine will enforce valid operating
agreements entered into among LLC members. The operating
agreement will only be enforced against the persons who
are parties to the agreement. Therefore, it is extremely
important that all members of an LLC sign the operating
Limited Liability Company
LLC Filing Office
Bureau of Corporations, Elections and Commissions
101 State House Station
Augusta, ME 04333-0101
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Entity or Franchise Level Tax
from certain financial institutions, Maine does not impose
an income tax on partnerships, LLCs taxable as partnerships,
or disregarded single-member LLCs.
State LLC Act
Maine LLC Act is contained in Title 31, Chapter 13 of the
The Maine LLC Act
Important Statutory Rules
LLC is managed by its members unless the Operating Agreement
states that the LLC is to be managed by one or more managers.
Admission of Members
statutory rule exists for the admission of new members. Unless otherwise stated in the Operating Agreement,
the admission of a transferee as a member must be approved
by unanimous written consent of the non-transferring members.
Amending the Operating Agreement
as provided in the Operating Agreement, amendments to the
Operating Agreement can be made only after approval by all
the LLC members.
otherwise provided in the Operating Agreement, the written
consent of all members is required to voluntarily dissolve
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