An Act To Replace the Maine Limited Liability Company Act

Sec. 1. Limited liability company laws revision. The Secretary of State shall prepare draft legislation revising the laws governing limited liability companies. The draft legislation must be submitted no later than January 15, 2011 to the joint standing committee of the Legislature having jurisdiction over judiciary matters. The committee may report out legislation based on the draft.

SUMMARY

This bill directs the Secretary of State to prepare draft legislation revising the laws governing limited liability companies. The draft must be submitted by January 15, 2011 to the joint standing committee of the Legislature having jurisdiction over judiciary matters, which may report out legislation based on the draft.