LD 1517
pg. 10
Page 9 of 13 An Act To Make Necessary Technical Changes Relating to the Maine Business Corpo... Page 11 of 13
Download Bill Text
LR 93
Item 1

 
§418. Conversion of limited partnership

 
1. Definitions. For purposes of this section, "business
entity" means any association or legal entity organized to
conduct business, including a domestic or foreign corporation,
limited liability company, limited partnership, general
partnership, limited liability partnership, joint venture, joint
stock company and business trust.

 
2. Authority. A business entity limited partnership may
convert to another type of business entity by complying with the
requirements of section 419 and Title 13-A, section 912 13-C,
chapter 9, subchapter 4.

 
Sec. 21. 31 MRSA §611, first ¶, as repealed and replaced by PL 1995, c.
633, Pt. C, §16, is amended to read:

 
A limited liability company may be organized under this
chapter for any lawful purpose. If the purpose for which a
limited liability company is organized or its form makes it
subject to a special provision of law, the limited liability
company shall also comply with that provision. This section is
specifically intended to permit the formation of a professional
limited liability company by a person or persons who may form a
professional corporation under the Maine Professional Service
Corporation Act. The provisions of that Act are incorporated in
this chapter by reference, except as follows.

 
Sec. 22. 31 MRSA §746, as enacted by PL 1999, c. 638, §34, is
amended to read:

 
§746. Conversion of limited liability company

 
1. Definitions. For purposes of this section, "business
entity" means any association or legal entity organized to
conduct business, including a domestic or foreign corporation,
limited liability company, limited partnership, general
partnership, limited liability partnership, joint venture, joint
stock company and business trust.

 
2. Authority. A business entity limited liability company
may convert to another type of business entity by complying with
the requirements of section 747 and Title 13-A, section 912 13-C,
chapter 9, subchapter 4.

 
Sec. 23. 32 MRSA §1081, sub-§4, as amended by PL 1993, c. 600, Pt. A,
§63, is further amended to read:

 
4. Corporations; names. A corporation may not practice, offer
or undertake to practice or hold itself out as practicing


Page 9 of 13 Top of Page Page 11 of 13